Home Values

Essex Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$349,300

  • 5.1% 1-year change
  • 1.4% 1-year forecast

The median home value in Essex is $349,300. Essex home values have gone up 5.1% over the past year and Zillow predicts they will rise 1.4% within the next year. The median list price per square foot in Essex is $237, which is higher than the Hartford Metro average of $145. The median price of homes currently listed in Essex is $499,900 while the median price of homes that sold is $259,000.

Foreclosures will be a factor impacting home values in the next several years. In Essex 4.2 homes are foreclosed (per 10,000). This is greater than the Hartford Metro value of 0.5 and also greater than the national value of 3.9

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Essex is 6.5%, which is higher than the national value of 6.3%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Essex homeowners underwater on their mortgage is 9.4%, which is lower than Hartford Metro at 19.4%.

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Relative ZHVI
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Essex Market Overview

Data through Feb 28, 2015
  • $349,300 ZHVI
  • 1.4% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Feb 29, 2016)
  • $499,900 Median listing price
  • No recent data Median sale price
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Essex Market Health

Data through Feb 28, 2015
  • 4.6/10 Stable
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 9.4% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 6.5% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

4.2 homes(Nov 30, 2014) Essex
0.5 homes Hartford Metro
3.9 homes United States
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Nearby Cities

Name Median ZHVI
Lyme $436,000
Old Saybrook $356,400
Old Lyme $336,800
Name Median ZHVI
Westbrook $317,000
Chester $291,200
Haddam $271,800
Name Median ZHVI
Town of Clinton $249,500
East Haddam $241,600
Deep River $236,900

Listings & Sales

Data through Feb 28, 2015
  • $237 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 6.4% Listings with price cut
26.3%
Sold below listing
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Essex Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $1,814 Essex
    $1,652 Hartford Metro
    $1,355 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 6.0 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • $1.16 Rent list price / sq ft
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