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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Salem Chapel Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Salem Chapel Township, NC

How much do homes in Salem Chapel Township, NC cost?

Median Sold Price

$269,200

$174/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$800(-0.3%)

Key Takeaway

The sold price of homes in Salem Chapel Township has remained the same since last year.

Summary: The median home sold price in Salem Chapel Township was $269,200 in May 2024, down 0.3% from last year, and the median price per square foot was $174.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $217.2K$150.2K
-30.8%
3 $280K$299K
+6.8%
4 $360K$265K
-26.4%
5+ --
N/A

Summary: Salem Chapel Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 30.8%, 3 bedroom homes increased by 6.8%, 4 bedroom homes decreased by 26.4%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Belews Creek Township
+7.7%
Kernersville Township
+4.5%
Salem Chapel Township
-0.3%
Walkertown
-1.1%

Housing Supply in Salem Chapel Township, NC

How many homes are available in Salem Chapel Township, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2832+14.3%

Summary: The Salem Chapel Township real estate market had 32 homes for sale in May 2024, a 14.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 34
+33.3%
3 2224
+9.1%
4 34
+33.3%
5+ 00
0.0%

Summary: The Salem Chapel Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
611+83.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Salem Chapel Township, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Salem Chapel Township in May 2024, up by 83.3% month-over-month. Of the 11 sold homes, 45% were sold under asking, 36% were sold at asking, and 18% were sold over asking.

Days on Market for Salem Chapel Township, NC

How long does it take to sell a home in Salem Chapel Township, NC?

Average Sale Time

May 2023May 2024CHANGE
67 Days39 Days-41.8%

Summary: Homes in Salem Chapel Township had an average of 39 days on market in May 2024, down by 41.8% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Salem Chapel Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 11 homes were sold in Salem Chapel Township; 64% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.

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

Report Updated 19 Days Ago

Newest Listings in Salem Chapel Township, NC

Nearby Markets to Salem Chapel Township, NC

What housing markets are near Salem Chapel Township, NC?