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Essa Housing Market Report

By Patrick Ross · Reviewed By Jacob Norris · Last Updated December 4, 2024
Essa housing market report

Essa housing market overview

  • The average home price in Essa was $696,927 — a -14.12% year-over-year decrease.
  • The median home price in Essa was $685,000 — a -3.26% year-over-year decrease.
  • The average detached home price decreased -18.9% year-over-year to $709,583
  • The semi-detached home price increased 0% year-over-year to $675,000
  • The condo townhouse home price decreased -3.24% year-over-year to $631,950
  • The average condo apartment home price increased 0% year-over-year to $0

Table of contents

Average home price trends

The average home price across all property types in Essa was $696,927. Home prices have decreased -14.12% year-over-year compared to the average home price of $811,539 the prior year. The average home price across all property types saw a -8.9% month-over-month decreased from the average home price of $764,973 the prior month. Here is how the average home price has changed across property types.

Read More: Toronto (GTA) Home Prices

Property Type Average M/M Y/Y
Detached $709,583 -11.18% -18.9%
Semi-Detached $675,000 +59.2% +0%
Condo Townhouse $631,950 -4.97% -3.24%
Condo Apartment $0 +0% +0%

Important Market Metrics

Sales

Total sales in Essa were 15 which is a 7.14% increase from 14 sales the prior year. Here is how the sales are broken down by property type:

  • Detached: 12 — a 20% Y/Y increase
  • Semi-Detached: 1 — a 0% Y/Y increase
  • Condo Townhouse: 2 — a -50% Y/Y decrease
  • Condo Apartment: 0 — a 0% Y/Y increase

Inventory

The housing inventory this month is 3.8 months which is up from 3.7 months of inventory the prior month and 2.4 months the prior year. Housing inventory this month is much higher than the historical 5-year average which is 0 months of inventory.

Listings

Essa had total new listings of 33 which is a -19.51% Y/Y decrease and -36.54% M/M decrease.

Sales-to-new-Listings Ratio

The sales-to-new listing ratio is an important metric as it helps us to understand the balance of supply and demand in the housing market which helps determine who has the majority of negotiating power in the housing market. The sales-to-new-listings ratio (SNLR) in Essa was 38% in August 2024. The SNLR indicates a buyers market market with a SNLR ratio that falling below 40%.

All property types

The highest historical average home price in Essa was $0. The highest historical median home price was $0.

Stat August 2024 Y/Y Change
Average Price $696,927 -14.12%
Median Price $685,000 -3.26%
Sales 15 +7.14%
New Listings 33 -19.51%
Active Listings 92 +48.39%

Single-family detached home prices in Essa

Stat August 2024 Y/Y Change
Average Price $709,583 -18.9%
Median Price $692,500 -5.3%
Sales 12 +20%
New Listings 26 -16.13%
Active Listings 77 +50.98%

Semi-detached home prices in Essa

Stat August 2024 Y/Y Change
Average Price $675,000 +0%
Median Price $675,000 +0%
Sales 1 +0%
New Listings 0 -100%
Active Listings 1 -50%

Condo townhouse prices in Essa

Stat August 2024 Y/Y Change
Average Price $631,950 -3.24%
Median Price $631,950 +0.91%
Sales 2 -50%
New Listings 7 -12.5%
Active Listings 11 +37.5%

Condo apartment prices in Essa

Stat August 2024 Y/Y Change
Average Price $0 +0%
Median Price $0 +0%
Sales 0 +0%
New Listings 0 +0%
Active Listings 0 +0%

Other housing market reports across the greater Toronto area:

Toronto

Halton Region

Peel Region

York Region

Durham Region

Dufferin County

Simcoe County

source: TREB