Is South Salem, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, South Salem was a Buyer's Market.
Housing Prices in South Salem, NY
How much do homes in South Salem, NY cost?
Median Sold Price
$821,000
$346/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in South Salem was $821,000 in April 2024, up 18.1% from last year, and the median price per square foot was $346.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $265K | $360K | +35.8% |
2 Bedrooms | $410.8K | $695K | +69.2% |
3 Bedrooms | $650K | $748.7K | +15.2% |
4 Bedrooms | $822.5K | $1.0M | +27.6% |
5+ Bedrooms | $795K | $1.3M | +75.5% |
Summary: South Salem housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.8%, 2 bedroom homes increased by 69.2%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 27.6%, and 5+ bedroom homes increased by 75.5%.
Median Sold Price Compared To Nearby Cities
South Salem | $695K | $821K | +18.1% |
Lewisboro | $750K | $847K | +12.9% |
Ridgefield | $857.8K | $925K | +7.8% |
Housing Supply in South Salem, NY
How many homes are available in South Salem, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
23 | 34 | +47.8% |
Summary: The South Salem real estate market had 34 homes for sale in April 2024, a 47.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 8 | 12 | +50.0% |
4 Bedrooms | 8 | 13 | +62.5% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The South Salem housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 62.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1 | 6 | +500.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in South Salem in April 2024, up by 500.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for South Salem, NY
How long does it take to sell a home in South Salem, NY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
16 Days | 53 Days | +217.4% |
Summary: Homes in South Salem had an average of 53 days on market in Apr 2024, up by 217.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 6 homes were sold in South Salem; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.