Town of Essex Home Prices & Values

$493,900 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 3.2% 1-year change
  • 0.9% 1-year forecast

The median home value in Town of Essex is $493,900. Town of Essex home values have gone up 3.2% over the past year and Zillow predicts they will rise 0.9% within the next year. The median price of homes currently listed in Town of Essex is $529,000. The median rent price in Town of Essex is $1,050, 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 Town of Essex 7.0 homes are foreclosed (per 10,000). This is greater 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 Town of Essex is 10.7%, 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 Town of Essex homeowners underwater on their mortgage is 5.7%, which is lower than Boston Metro at 10.6%.

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Relative ZHVI
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Town of Essex Market Overview

Data through Aug 31, 2014
  • $493,900 ZHVI
  • 0.9% 1-yr forecast What's This?  
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    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)
  • $529,000 Median listing price
  • No data Median sale price
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Town of Essex Market Health

Data through Aug 31, 2014
  • 2.7/10 Less healthy What's This?  
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    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
  • 5.7% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 10.7% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Manchester $708,800 Wenham $521,100 Hamilton $474,600
Newbury $447,700 Rockport $445,500 Town of Ipswich $428,000
Town of Rowley $410,500 Beverly $367,000 Gloucester $364,800

Listings & Sales

Data through Aug 31, 2014
  • $266 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 50.0% Listings with price cut
63.6%
Sold below listing
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Town of Essex Rentals

Data through Aug 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$2,132 Town of Essex
$2,116 Boston Metro
$1,328 United States
  • 3.4 Breakeven horizon What's This?  
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    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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