Is Salem, SC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Salem was a Buyer's Market.
Housing Prices in Salem, SC
How much do homes in Salem, SC cost?
Median Sold Price
$565,000
-
Based on all homes sold in March 2024.
Difference Since Last Month
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $242.5K | $582.5K | +140.2% |
3 Bedrooms | $379K | $497.5K | +31.3% |
4 Bedrooms | $417.5K | $665K | +59.3% |
5+ Bedrooms | - | $1.9M | N/A |
Summary: Salem housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 140.2%, 3 bedroom homes increased by 31.3%, 4 bedroom homes increased by 59.3%, and 5+ bedroom homes did not change.
Housing Supply in Salem, SC
How many homes are available in Salem, SC?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
64 | 78 | +21.9% |
Summary: The Salem real estate market had 78 homes for sale in March 2024, a 21.9% 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 | 10 | 8 | -20.0% |
3 Bedrooms | 26 | 35 | +34.6% |
4 Bedrooms | 21 | 26 | +23.8% |
5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The 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 decreased by 20%, 3 bedroom homes increased by 34.6%, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 19 | +137.5% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Salem in March 2024, up by 137.5% month-over-month. Of the 19 sold homes, 68% were sold under asking, 26% were sold at asking, and 5% were sold over asking.
Days on Market for Salem, SC
How long does it take to sell a home in Salem, SC?
Average Sale Time
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
46 Days | 88 Days | +91.7% |
Summary: Homes in Salem had an average of 88 days on market in Mar 2024, up by 91.7% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During March 2024, 19 homes were sold in Salem; 11% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 42% of homes were sold over 90 days.