Home Values

Essex County 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

$343,400

  • 4.8% 1-year change
  • 0.6% 1-year forecast

The median home value in Essex County is $343,400. Essex County home values have gone up 4.8% over the past year and Zillow predicts they will rise 0.6% within the next year. The median list price per square foot in Essex County is $218, which is lower than the Boston Metro average of $224. The median price of homes currently listed in Essex County is $379,000 while the median price of homes that sold is $345,100. The median rent price in Essex County is $1,650, which is lower than the Boston Metro median of $2,300.

Foreclosures will be a factor impacting home values in the next several years. In Essex County 0.9 homes are foreclosed (per 10,000). This is lower than the national value of 4.3

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 County is 7.8%, which is higher than the national value of 6.9%. 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 County homeowners underwater on their mortgage is 11.1%, which is higher than Boston Metro at 10.6%.

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Relative ZHVI
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Essex County Market Overview

Data through Aug 31, 2014
  • $343,400 ZHVI
  • 0.6% 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
    (Aug 31, 2015)
  • $379,000 Median listing price
  • $345,100 Median sale price
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Essex County Market Health

Data through Aug 31, 2014
  • 6.2/10 Healthy
    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 recent data Average days on Zillow
  • 11.1% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 7.8% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

0.9 homes Essex County
4.3 homes United States
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Cities in Essex County

Name Median ZHVI
Town of Boxford $568,600
Wenham $521,100
Town of Topsfield $516,700
Name Median ZHVI
Hamilton $474,600
Middleton $449,000
Town of Rowley $410,500
Name Median ZHVI
Georgetown $408,200
Danvers $360,400
Groveland $347,200

Listings & Sales

Data through Aug 31, 2014
  • $218 Median list price / sq ft
  • $211 Median sale price / sq ft
  • 43.7% Listings with price cut
19.8%
Sold below listing
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Essex County Rentals

Data through Aug 31, 2014
  • Zillow Rent Index

  • $1,959 Essex County
    $2,116 Boston Metro
    $1,328 United States

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

  • 2.9 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,650 Rent list price
  • $1.50 Rent list price / sq ft
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