Is Salem, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Salem has remained a Seller's Market.
Housing Prices in Salem, WI
How much do homes in Salem, WI cost?
Median Sold Price
$330,000
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Salem was $330,000 in April 2024, down 1.5% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $160K | $162K | +1.3% |
2 Bedrooms | $185.7K | $185K | -0.4% |
3 Bedrooms | $305K | $327.4K | +7.4% |
4 Bedrooms | $433.5K | $368.5K | -15.0% |
5+ Bedrooms | $495.9K | $576.5K | +16.2% |
Summary: Salem housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.3%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 7.4%, 4 bedroom homes decreased by 15%, and 5+ bedroom homes increased by 16.2%.
Median Sold Price Compared To Nearby Cities
Paddock Lake | $289.7K | $330K | +13.9% |
Salem | $335K | $330K | -1.5% |
Trevor | $336K | $322K | -4.2% |
Bristol | $456.2K | $372K | -18.5% |
Housing Supply in Salem, WI
How many homes are available in Salem, WI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
49 | 69 | +40.8% |
Summary: The Salem real estate market had 69 homes for sale in April 2024, a 40.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 8 | 8 | 0.0% |
3 Bedrooms | 26 | 39 | +50.0% |
4 Bedrooms | 12 | 16 | +33.3% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Salem housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 18 | +80.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Salem in April 2024, up by 80.0% month-over-month. Of the 18 sold homes, 22% were sold under asking, 22% were sold at asking, and 56% were sold over asking.
Days on Market for Salem, WI
How long does it take to sell a home in Salem, WI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
7 Days | 3 Days | -57.1% |
Summary: Homes in Salem had an average of 3 days on market in Apr 2024, down by 57.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 18 homes were sold in Salem; 6% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.