Is Essex, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Essex is a seller's market

Buyer's
Market

Difference Since November 2021

Since last year, Essex has remained a Seller's Market.

Key Takeaway

Essex is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Essex, MD cost?

Median Sold Price

$261,625

$174/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$26,625(+11.3%)

Key Takeaway

Homes in Essex have sold for 11.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 -$125K
N/A
2 $171K$197.7K
+15.6%
3 $224.6K$235K
+4.6%
4 $300K$322K
+7.3%
5+ $430K$379K
-11.9%

Median Sold Price Compared To Nearby Cities

Essex
+11.3%
Middle River
+6.7%
Sparrows Point
+4.9%

How many homes are available in Essex, MD?

Number of Homes For Sale

Oct 2022Nov 2022%
172165-4.1%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 22
0.0%
2 3227
-15.6%
3 8282
0.0%
4 4946
-6.1%
5+ 78
+14.3%

Number of Homes Sold

Oct 2022Nov 2022%
3831-18.4%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Essex, you may be able to get a good deal. 38.7% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
18 Days21 Days+14.3%

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Essex, MD

Essex, MD has 165 homes on the market. Between October 2022 and November 2022, Essex, MD real estate market has seen decrease in the number of listings by 4.1%. While the average time on the market in November 2022 was 21 days, the median list price was $261,625. Listing prices have changed in this real estate market between October 2022 and November 2022: the cost of 1 bedroom properties went up by 0%, 2 bedrooms properties prices increased by 15.6%, 3 bedrooms properties became 4.6% more expensive, prices of 4 bedrooms properties went up by 7.3%, prices of 5 bedrooms properties went down by 11.9%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes did not move, 2 bedrooms homes became 15.6% less available, 3 bedrooms homes inventory did not change, 4 bedrooms homes inventory decreased by 6.1%, the quantity of 5 bedrooms homes went up by 14.3%. Essex, MD housing market in November 2022 saw over 8 listings sold above listed price, more than 11 sold at listed price and over 12 sold below.

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