Is Essex County, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Essex County is a seller's market

Buyer's
Market

Difference Since September 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

$649,994

$364/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$45,448(+7.5%)

Key Takeaway

Homes in Essex County have sold for 7.5% more than they did a year ago.

Summary: The median home sold price in Essex County was $649,994 in September 2024, up 7.5% from last year, and the median price per square foot was $364.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $304.5K$332.8K
+9.3%
2 $451.5K$473.3K
+4.8%
3 $601.2K$639.8K
+6.4%
4 $769.9K$849.1K
+10.3%
5+ $780.6K$865K
+10.8%

Summary: Essex County housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.3%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 10.8%.

Median Sold Price Compared To Nearby Counties

Essex County
+7.5%
Middlesex County
+5.8%
Suffolk County
+4.4%

Housing Supply in Essex County, MA

How many homes are available in Essex County, MA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
2,0702,082+0.6%

Summary: The Essex County real estate market had 2,082 homes for sale in September 2024, a 0.6% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 9183
-8.8%
2 390425
+9.0%
3 769757
-1.6%
4 516520
+0.8%
5+ 304297
-2.3%

Summary: The Essex County housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.8%, 2 bedroom homes increased by 9%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes decreased by 2.3%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
713529-25.8%

Asking Price vs. Sold Price

164 Homes Were Sold
Under Asking

71 Homes Were Sold
At Asking

294 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Essex County, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.

Summary: A total of 529 homes were sold or pending in Essex County in September 2024, down by 25.8% month-over-month. Of the 529 sold homes, 31% were sold under asking, 13% were sold at asking, and 56% 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

Sep 2023Sep 2024CHANGE
23 Days28 Days+20.9%

Summary: Homes in Essex County had an average of 28 days on market in Sep 2024, up by 20.9% compared to last year.

Breakdown of Home Sale Times

377 Homes Were Sold
Under 30 Days

138 Homes Were Sold
In 30 - 90 Days

13 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Essex County are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 529 homes were sold in Essex County; 71% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

Newest Listings in Essex County, MA

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