$6,768 Closing Credit*
$569,900
2,458 SqFt
3 Beds
•2 Full Baths, 1 Partial
Tracy Molloy, Listing Office: Coldwell Banker Realty
Is Salem, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Salem has remained a Seller's Market.
Key Takeaway
Salem is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Salem, CT
How much do homes in Salem, CT cost?
Median Sold Price
$425,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$24,000(+6.0%)
Key Takeaway
Homes in Salem have sold for 6% more than they did a year ago.
Summary: The median home sold price in Salem was $425,000 in November 2024, up 6% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $113.5K | $117.5K | +3.5% |
| 2 Bedrooms | $276K | $207.5K | -24.8% |
| 3 Bedrooms | $374K | $417.5K | +11.6% |
| 4 Bedrooms | $477.5K | $547.5K | +14.7% |
| 5+ Bedrooms | $560K | $554K | -1.1% |
Summary: Salem housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.5%, 2 bedroom homes decreased by 24.8%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes decreased by 1.1%.
Median Sold Price Compared To Nearby Cities
| Bozrah | $300K | $412K | +37.3% |
| Oakdale | $298K | $360K | +20.8% |
| Montville | $280K | $330K | +17.9% |
| Salem | $401K | $425K | +6.0% |
| Colchester | $386.2K | $400K | +3.6% |
Housing Supply in Salem, CT
How many homes are available in Salem, CT?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 20 | 19 | -5.0% |
Summary: The Salem real estate market had 19 homes for sale in November 2024, a 5.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 10 | 6 | -40.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Salem housing inventory by bedroom type for November 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 40%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Salem, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Salem in November 2024, the same as the previous month. Of the 7 sold homes, 14% were sold under asking, 14% were sold at asking, and 71% were sold over asking.
Days on Market for Salem, CT
We’re sorry, we don't have information for this market at the moment
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