Is Salem Township, MI 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 Township was a Neutral Market.
Housing Prices in Salem Township, MI
How much do homes in Salem Township, MI cost?
Median Sold Price
$332,450
$278/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Summary: The median home sold price in Salem Township was $332,450 in April 2024, down 19.1% from last month, and the median price per square foot was $278.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | $289.9K | N/A |
3 Bedrooms | - | $330K | N/A |
4 Bedrooms | - | $334.9K | N/A |
5+ Bedrooms | $411K | $694K | +68.9% |
Summary: Salem Township housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes increased by 68.9%.
Median Sold Price Compared To Nearby Cities
Monterey Township | $185K | $475K | +156.8% |
Salem Township | $411K | $332.4K | -19.1% |
Housing Supply in Salem Township, MI
How many homes are available in Salem Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 | 9 | +50.0% |
Summary: The Salem Township real estate market had 9 homes for sale in April 2024, a 50.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 1 | +100.0% |
3 Bedrooms | 1 | 2 | +100.0% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Salem Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1 | 6 | +500.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Salem Township in April 2024, up by 500.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Salem Township, MI
How long does it take to sell a home in Salem Township, MI?
Average Sale Time
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 Days | 4 Days | -10.0% |
Summary: Homes in Salem Township had an average of 4 days on market in Apr 2024, down by 10% compared to last month.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 6 homes were sold in Salem Township; 100% 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.