Is Essex County, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Essex County has remained a Seller's Market.
Key Takeaway
Essex County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Essex County, MA
How much do homes in Essex County, MA cost?
Median Sold Price
$625,441
$354/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Essex County have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Essex County was $625,441 in March 2024, up 4.3% from last year, and the median price per square foot was $354.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $285.5K | $321.3K | +12.6% |
| 2 Bedrooms | $441.1K | $463.5K | +5.1% |
| 3 Bedrooms | $584.3K | $620K | +6.1% |
| 4 Bedrooms | $760.4K | $804.2K | +5.8% |
| 5+ Bedrooms | $764.9K | $826.8K | +8.1% |
Summary: Essex County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.6%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 8.1%.
Median Sold Price Compared To Nearby Counties
| Middlesex County | $715.2K | $765.6K | +7.0% |
| Essex County | $599.6K | $625.4K | +4.3% |
| Suffolk County | $749.9K | $774.9K | +3.3% |
Housing Supply in Essex County, MA
How many homes are available in Essex County, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,195 | 1,364 | +14.1% |
Summary: The Essex County real estate market had 1,364 homes for sale in March 2024, a 14.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 75 | 79 | +5.3% |
| 2 Bedrooms | 285 | 325 | +14.0% |
| 3 Bedrooms | 377 | 453 | +20.2% |
| 4 Bedrooms | 258 | 296 | +14.7% |
| 5+ Bedrooms | 200 | 211 | +5.5% |
Summary: The Essex County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.3%, 2 bedroom homes increased by 14%, 3 bedroom homes increased by 20.2%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes increased by 5.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 291 | 360 | +23.7% |
Asking Price vs. Sold Price
113 Homes Were Sold
Under Asking
41 Homes Were Sold
At Asking
206 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Essex County, you could pay more than the asking price. 57.2% of homes here sold above asking price last month.
Summary: A total of 360 homes were sold or pending in Essex County in March 2024, up by 23.7% month-over-month. Of the 360 sold homes, 31% were sold under asking, 11% were sold at asking, and 57% were sold over asking.
Days on Market for Essex County, MA
How long does it take to sell a home in Essex County, MA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 40 Days | 38 Days | -4.1% |
Summary: Homes in Essex County had an average of 38 days on market in Mar 2024, down by 4.1% compared to last year.
Breakdown of Home Sale Times
255 Homes Were Sold
Under 30 Days
64 Homes Were Sold
In 30 - 90 Days
40 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Essex County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 360 homes were sold in Essex County; 71% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
© Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.