Is Salem, NH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Salem has remained a Seller's Market.
Key Takeaway
Salem is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Salem, NH
How much do homes in Salem, NH cost?
Median Sold Price
$582,360
$314/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Salem have sold for 16.5% more than they did a year ago.
Summary: The median home sold price in Salem was $582,360 in March 2024, up 16.5% from last year, and the median price per square foot was $314.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $517.5K | +245.0% |
| 2 Bedrooms | $355K | $475K | +33.8% |
| 3 Bedrooms | $492.5K | $550K | +11.7% |
| 4 Bedrooms | $650K | $760K | +16.9% |
| 5+ Bedrooms | $575K | $665K | +15.7% |
Summary: Salem housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 245%, 2 bedroom homes increased by 33.8%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 16.9%, and 5+ bedroom homes increased by 15.7%.
Median Sold Price Compared To Nearby Cities
| Salem | $500K | $582.3K | +16.5% |
| Methuen | $510.2K | $540.5K | +5.9% |
| Methuen Town | $510.9K | $540.5K | +5.8% |
Housing Supply in Salem, NH
How many homes are available in Salem, NH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 56 | 49 | -12.5% |
Summary: The Salem real estate market had 49 homes for sale in March 2024, a 12.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 18 | 16 | -11.1% |
| 3 Bedrooms | 17 | 20 | +17.6% |
| 4 Bedrooms | 12 | 7 | -41.7% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Salem housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 17.6%, 4 bedroom homes decreased by 41.7%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 18 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Salem, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Salem in March 2024, the same as the previous month. Of the 18 sold homes, 33% were sold under asking, 22% were sold at asking, and 44% were sold over asking.
Days on Market for Salem, NH
We’re sorry, we don't have information for this market at the moment
© Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.