Home Values

Town of 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

$499,400

  • 3.6% 1-year change
  • 0.6% 1-year forecast

The median home value in Town of Essex is $499,400. Town of Essex home values have gone up 3.6% over the past year and Zillow predicts they will rise 0.6% within the next year. The median price of homes currently listed in Town of Essex is $575,000. The median rent price in Town of Essex is $1,050, which is lower than the Boston Metro median of $2,200.

Foreclosures will be a factor impacting home values in the next several years. In Town of Essex 7.0 homes are foreclosed (per 10,000). This is greater than the national value of 4.2

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 Town of Essex is 8.0%, which is higher than the national value of 6.4%. 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 Town of Essex homeowners underwater on their mortgage is 5.2%, which is lower than Boston Metro at 9.6%.

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Relative ZHVI
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Town of Essex Market Overview

Data through Nov 30, 2014
  • $499,400 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
    (Nov 30, 2015)
  • $575,000 Median listing price
  • No data Median sale price
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Town of Essex Market Health

Data through Nov 30, 2014
  • 2.1/10 Less 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 data Average days on Zillow
  • 5.2% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 8.0% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)
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Nearby Cities

Name Median ZHVI
Manchester $728,600
Wenham $525,900
Hamilton $470,500
Name Median ZHVI
Newbury $464,000
Rockport $448,100
Town of Ipswich $435,300
Name Median ZHVI
Town of Rowley $413,500
Gloucester $369,500
Beverly $369,400

Listings & Sales

Data through Nov 30, 2014
  • $244 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • No data Listings with price cut
63.6%
Sold below listing
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Town of Essex Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $2,145 Town of Essex
    $2,137 Boston Metro
    $1,342 United States

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

  • 3.4 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 recent data Rent list price
  • No data Rent list price / sq ft
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