$2,244 Closing Credit*
$189,000
1,647 SqFt
3 Beds
•2 Full Baths
Robert Harvey, Listing Office: Hunt Real Estate ERA
Is Salem, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
At the same time last year, Salem was a Seller's Market.
Key Takeaway
Salem 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, NY
How much do homes in Salem, NY cost?
Median Sold Price
$206,000
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$20,800(+11.2%)
Key Takeaway
Homes in Salem have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in Salem was $206,000 in August 2024, up 11.2% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $104.5K | $159.1K | +52.3% |
| 2 Bedrooms | $175.2K | $235K | +34.1% |
| 3 Bedrooms | $200K | $169.9K | -15.0% |
| 4 Bedrooms | $155K | $250K | +61.3% |
| 5+ Bedrooms | $248.9K | $277K | +11.3% |
Summary: Salem housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 52.3%, 2 bedroom homes increased by 34.1%, 3 bedroom homes decreased by 15%, 4 bedroom homes increased by 61.3%, and 5+ bedroom homes increased by 11.3%.
Housing Supply in Salem, NY
How many homes are available in Salem, NY?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 21 | 26 | +23.8% |
Summary: The Salem real estate market had 26 homes for sale in August 2024, a 23.8% increase compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 11 | 12 | +9.1% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Salem housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 40%, 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
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were 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, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Salem in August 2024, up by 100.0% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Salem, NY
How long does it take to sell a home in Salem, NY?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 8 Days | 60 Days | +653.1% |
Summary: Homes in Salem had an average of 60 days on market in Aug 2024, up by 653.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Salem are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 4 homes were sold in Salem; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
The data relating to real estate on this website comes in part from the Internet Data Exchange program of the Global MLS (GMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.