Is Essex County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Essex County has remained a Seller's Market.
Housing Prices in Essex County, VA
How much do homes in Essex County, VA cost?
Median Sold Price
$290,000
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Essex County was $290,000 in April 2024, up 13.7% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $220.5K | $115.8K | -47.5% |
2 Bedrooms | $175K | $158.8K | -9.3% |
3 Bedrooms | $254.9K | $272K | +6.7% |
4 Bedrooms | $292K | $355K | +21.6% |
5+ Bedrooms | $800K | $609.9K | -23.8% |
Summary: Essex County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 47.5%, 2 bedroom homes decreased by 9.3%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 21.6%, and 5+ bedroom homes decreased by 23.8%.
Median Sold Price Compared To Nearby Counties
Essex County | $254.9K | $290K | +13.7% |
King and Queen County | $255K | $282.4K | +10.7% |
Westmoreland County | $290K | $310K | +6.9% |
King George County | $418.9K | $439.9K | +5.0% |
Caroline County | $332.2K | $335K | +0.8% |
Housing Supply in Essex County, VA
How many homes are available in Essex County, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
53 | 54 | +1.9% |
Summary: The Essex County real estate market had 54 homes for sale in April 2024, a 1.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 8 | 5 | -37.5% |
3 Bedrooms | 31 | 32 | +3.2% |
4 Bedrooms | 9 | 12 | +33.3% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Essex County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 37.5%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 11 | +10.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Essex County in April 2024, up by 10.0% month-over-month. Of the 11 sold homes, 73% were sold under asking, 9% were sold at asking, and 18% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
16 Days | 62 Days | +282.4% |
Summary: Homes in Essex County had an average of 62 days on market in Apr 2024, up by 282.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 11 homes were sold in Essex County; 18% of homes were sold within 30 days, 64% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.