Is North Salem, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, North Salem was a Seller's Market.
Key Takeaway
North Salem is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in North Salem, NY
How much do homes in North Salem, NY cost?
Median Sold Price
$839,500
$325/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in North Salem have sold for 30.8% more than they did a year ago.
Summary: The median home sold price in North Salem was $839,500 in May 2024, up 30.8% from last year, and the median price per square foot was $325.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | - | N/A |
| 2 Bedrooms | $245K | $634.9K | +159.2% |
| 3 Bedrooms | $665K | $702K | +5.6% |
| 4 Bedrooms | $659K | $997K | +51.3% |
| 5+ Bedrooms | $1.5M | $5.9M | +289.4% |
Summary: North Salem 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 159.2%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 51.3%, and 5+ bedroom homes increased by 289.4%.
Housing Supply in North Salem, NY
How many homes are available in North Salem, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 24 | +20.0% |
Summary: The North Salem real estate market had 24 homes for sale in May 2024, a 20.0% increase 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 | 5 | 6 | +20.0% |
| 3 Bedrooms | 6 | 8 | +33.3% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The North Salem 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 increased by 20%, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 0 | 4 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Salem, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in North Salem in May 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for North Salem, NY
How long does it take to sell a home in North Salem, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 69 Days | 158 Days | +128.4% |
Summary: Homes in North Salem had an average of 158 days on market in May 2024, up by 128.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in North Salem are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 4 homes were sold in North Salem; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.