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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Salem Township is a seller's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Salem Township was a Neutral Market.

Key Takeaway

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

Housing Prices in Salem Township, PA

How much do homes in Salem Township, PA cost?

Median Sold Price

$200,000

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$85,500(-29.9%)

Key Takeaway

Homes in Salem Township have sold for 29.9% less than they did a year ago.

Summary: The median home sold price in Salem Township was $200,000 in February 2024, down 29.9% from last year, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $193.4K-
N/A
2 $180K$199.9K
+11.1%
3 $255.5K$265K
+3.7%
4 $401.6K$108.5K
-73.0%
5+ $350K$370K
+5.7%

Summary: Salem Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 3.7%, 4 bedroom homes decreased by 73%, and 5+ bedroom homes increased by 5.7%.

Median Sold Price Compared To Nearby Cities

Delmont
-5.1%
Salem Township
-29.9%

Housing Supply in Salem Township, PA

How many homes are available in Salem Township, PA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
16160.0%

Summary: The Salem Township real estate market had 16 homes for sale in February 2024, the same as January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 43
-25.0%
3 67
+16.7%
4 54
-20.0%
5+ 12
+100.0%

Summary: The Salem Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
43-25.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Salem Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Salem Township in February 2024, down by 25.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.

Days on Market for Salem Township, PA

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

Average Sale Time

Feb 2023Feb 2024CHANGE
33 Days64 Days+92.0%

Summary: Homes in Salem Township had an average of 64 days on market in Feb 2024, up by 92% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 3 homes were sold in Salem Township; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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 18 Days Ago

Newest Listings in Salem Township, PA

Nearby Markets to Salem Township, PA

What housing markets are near Salem Township, PA?