Is Salem Township, MI a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Salem Township is a seller's market


Difference Since May 2022

Since last year, Salem Township has remained a Seller's Market.

Key Takeaway

Salem Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Salem Township, MI cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since May 2022


Key Takeaway

Homes in Salem Township have sold for 18.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2022May 2023%
1 --
2 $251K$390K
3 $394K$414K
4 $575K$750K
5+ $975K$614.5K

Median Sold Price Compared To Nearby Cities

South Lyon
Salem Township
Lyon Charter Township
Northville Township
Plymouth Charter Township

How many homes are available in Salem Township, MI?

Number of Homes For Sale

Apr 2023May 2023%

Homes For Sale By Bedroom Count

# BEDSApr 2023May 2023%
1 00
2 11
3 87
4 79
5+ 55

Number of Homes Sold

Apr 2023May 2023%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Salem Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

What housing markets are near Salem Township, MI?

About Salem Township, MI

There are 22 homes are for sale in Salem Township, MI real estate market. Between April 2023 and May 2023, Salem Township, MI real estate market has seen increase in the number of listings by 4.8%. This housing market listing prices have changed between April 2023 and May 2023: prices of 1 bedroom properties increased by 0%, the cost of 2 bedrooms properties went up by 55.4%, 3 bedrooms properties became 5.1% more expensive, prices of 4 bedrooms properties increased by 30.4%, the cost of 5 bedrooms properties went down by 37%. This housing market inventory have changed: the quantity of 1 bedroom homes have not changed, the quantity of 2 bedrooms homes have not changed, 3 bedrooms homes became 12.5% less available, volume of 4 bedrooms homes went up by 28.6%, volume of 5 bedrooms homes stayed the same. While more than 2 listings in Salem Township, MI in May 2023 were sold above asking price, there were more than 1 listings sold at asking price, and more than 1 were sold below.