Is Essex, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Essex was a Seller's Market.
Key Takeaway
Essex is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Essex, CT
How much do homes in Essex, CT cost?
Median Sold Price
$530,000
$310/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Essex have sold for 1.3% less than they did a year ago.
Summary: The median home sold price in Essex was $530,000 in March 2024, down 1.3% from last year, and the median price per square foot was $310.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $295K | $338K | +14.6% |
| 2 Bedrooms | $395K | $352K | -10.9% |
| 3 Bedrooms | $587K | $575K | -2.0% |
| 4 Bedrooms | $657.5K | $775K | +17.9% |
| 5+ Bedrooms | $718.2K | $1.4M | +96.7% |
Summary: Essex housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.6%, 2 bedroom homes decreased by 10.9%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 96.7%.
Median Sold Price Compared To Nearby Cities
| Deep River | $307.5K | $357.5K | +16.3% |
| Old Saybrook | $542K | $617K | +13.8% |
| Ivoryton | $392K | $420K | +7.1% |
| Essex | $537K | $530K | -1.3% |
Housing Supply in Essex, CT
How many homes are available in Essex, CT?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 34 | 30 | -11.8% |
Summary: The Essex real estate market had 30 homes for sale in March 2024, a 11.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 16 | 13 | -18.8% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Essex housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 18.8%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Essex, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Essex in March 2024, down by 37.5% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for Essex, CT
We’re sorry, we don't have information for this market at the moment
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