Is Salem Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Salem Township has remained a Seller's Market.
Housing Prices in Salem Township, PA
How much do homes in Salem Township, PA cost?
Median Sold Price
$230,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Salem Township was $230,000 in May 2024, up 17.5% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $137.2K | $216K | +57.4% |
3 Bedrooms | $200K | $225.7K | +12.9% |
4 Bedrooms | $299K | $266K | -11.0% |
5+ Bedrooms | $215K | $128.5K | -40.2% |
Summary: Salem Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 57.4%, 3 bedroom homes increased by 12.9%, 4 bedroom homes decreased by 11%, and 5+ bedroom homes decreased by 40.2%.
Housing Supply in Salem Township, PA
How many homes are available in Salem Township, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 8 | -38.5% |
Summary: The Salem Township real estate market had 8 homes for sale in May 2024, a 38.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 0 | -100.0% |
3 Bedrooms | 8 | 5 | -37.5% |
4 Bedrooms | 3 | 2 | -33.3% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Salem Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes decreased by 37.5%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 5 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Salem Township in May 2024, the same as the previous month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Salem Township, PA
How long does it take to sell a home in Salem Township, PA?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Salem Township; 20% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.