Is Salem Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Salem Township was a Seller's Market.
Key Takeaway
Salem Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Salem Township, MI
How much do homes in Salem Township, MI cost?
Median Sold Price
$411,006
$291/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Salem Township have sold for 33.7% more than they did a month ago.
Summary: The median home sold price in Salem Township was $411,006 in March 2024, up 33.7% from last month, and the median price per square foot was $291.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $322.4K | - | N/A |
| 3 Bedrooms | $307.5K | - | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | $411K | N/A |
Summary: Salem Township housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Salem Township, MI
How many homes are available in Salem Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Summary: The Salem Township real estate market had 6 homes for sale in March 2024, a 14.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 0 | -100.0% |
| 3 Bedrooms | 2 | 1 | -50.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Salem Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes decreased by 50%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Salem Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Salem Township in March 2024, down by 75.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Salem Township, MI
How long does it take to sell a home in Salem Township, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 Days | 5 Days | -68.3% |
Summary: Homes in Salem Township had an average of 5 days on market in Mar 2024, down by 68.3% compared to last month.
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
Key Takeaway
Many homes in Salem Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 1 homes were sold in Salem Township; 100% 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.
