$3,557 Closing Credit*
$299,500
1,697 SqFt
3 Beds
•2 Full Baths
Listing Office: Century 21 Prestige - Hsv
Is Salem, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Salem was a Seller's Market.
Key Takeaway
Salem is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Salem, AL
How much do homes in Salem, AL cost?
Median Sold Price
$325,000
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$30,260(+10.3%)
Key Takeaway
Homes in Salem have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in Salem was $325,000 in October 2024, up 10.3% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $153K | - | N/A |
| 2 Bedrooms | $230K | $155K | -32.6% |
| 3 Bedrooms | $289.9K | $312.5K | +7.8% |
| 4 Bedrooms | $342.1K | $530K | +54.9% |
| 5+ Bedrooms | $483.7K | $375.9K | -22.3% |
Summary: Salem housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 32.6%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 54.9%, and 5+ bedroom homes decreased by 22.3%.
Median Sold Price Compared To Nearby Cities
| Salem | $294.7K | $325K | +10.3% |
| Prospect | $277.4K | $207.9K | -25.1% |
Housing Supply in Salem, AL
How many homes are available in Salem, AL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 21 | +16.7% |
Summary: The Salem real estate market had 21 homes for sale in October 2024, a 16.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 10 | 12 | +20.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Salem housing inventory by bedroom type for October 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 20%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Salem, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Salem in October 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Salem, AL
How long does it take to sell a home in Salem, AL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 33 Days | 34 Days | +3.0% |
Summary: Homes in Salem had an average of 34 days on market in Oct 2024, up by 3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Salem has remained consistent over time.
Summary: During October 2024, 2 homes were sold in Salem; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from the Georgia MLS © 2024. 
The data relating to real estate for sale on this site comes in part from the Broker Reciprocity/IDX program of the Greater Alabama Multiple Listing Service, Inc. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX 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, and that the content is not guaranteed accurate by the MLS. There is no express or implied warranty by MLS of the accuracy of information which should be independently verified. The Greater Alabama Multiple Listing Service does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Copyright© 2024 Greater Alabama Multiple Listing Service, Inc. All Rights Reserved.