Is West Salem, OH 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, West Salem has remained a Seller's Market.
Key Takeaway
West Salem is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Salem, OH
How much do homes in West Salem, OH cost?
Median Sold Price
$245,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in West Salem have sold for 32.4% more than they did a year ago.
Summary: The median home sold price in West Salem was $245,000 in March 2024, up 32.4% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $68.5K | - | N/A |
| 2 Bedrooms | $166K | $167K | +0.6% |
| 3 Bedrooms | $185K | $276K | +49.2% |
| 4 Bedrooms | $225K | $274.5K | +22.0% |
| 5+ Bedrooms | $450K | $125K | -72.2% |
Summary: West Salem housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 49.2%, 4 bedroom homes increased by 22%, and 5+ bedroom homes decreased by 72.2%.
Median Sold Price Compared To Nearby Cities
| Congress Township | $190.5K | $297.5K | +56.2% |
| West Salem | $185K | $245K | +32.4% |
Housing Supply in West Salem, OH
How many homes are available in West Salem, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 18 | +100.0% |
Summary: The West Salem real estate market had 18 homes for sale in March 2024, a 100.0% increase 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 | 3 | +50.0% |
| 3 Bedrooms | 6 | 12 | +100.0% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The West Salem 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 increased by 50%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in West Salem, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in West Salem in March 2024, up by 400.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for West Salem, OH
How long does it take to sell a home in West Salem, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 82 Days | 115 Days | +39.6% |
Summary: Homes in West Salem had an average of 115 days on market in Mar 2024, up by 39.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in West Salem are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 5 homes were sold in West Salem; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.
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