Is Essex County, VA 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 County was a Seller's Market.
Housing Prices in Essex County, VA
How much do homes in Essex County, VA cost?
Median Sold Price
$282,500
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Essex County was $282,500 in March 2024, up 10.8% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $291K | $132.9K | -54.3% |
2 Bedrooms | $170.1K | $158.8K | -6.6% |
3 Bedrooms | $253.9K | $273K | +7.5% |
4 Bedrooms | $350K | $360K | +2.9% |
5+ Bedrooms | $800K | $384.5K | -51.9% |
Summary: Essex County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 54.3%, 2 bedroom homes decreased by 6.6%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 51.9%.
Median Sold Price Compared To Nearby Counties
Essex County | $254.9K | $282.5K | +10.8% |
King and Queen County | $255K | $275.8K | +8.2% |
Westmoreland County | $290K | $305K | +5.2% |
King George County | $419.9K | $439.9K | +4.8% |
Caroline County | $335K | $330K | -1.5% |
Housing Supply in Essex County, VA
How many homes are available in Essex County, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
69 | 78 | +13.0% |
Summary: The Essex County real estate market had 78 homes for sale in March 2024, a 13.0% increase 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 | 7 | 9 | +28.6% |
3 Bedrooms | 38 | 45 | +18.4% |
4 Bedrooms | 18 | 18 | 0.0% |
5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Essex County 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 increased by 28.6%, 3 bedroom homes increased by 18.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 9 | +125.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Essex County in March 2024, up by 125.0% month-over-month. Of the 9 sold homes, 11% were sold under asking, 56% were sold at asking, and 33% were sold over asking.
Days on Market for Essex County, VA
How long does it take to sell a home in Essex County, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
51 Days | 60 Days | +19.0% |
Summary: Homes in Essex County had an average of 60 days on market in Mar 2024, up by 19% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 9 homes were sold in Essex County; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.