$1,674 Closing Credit*
$141,000
1,096 SqFt
2 Beds
•1 Full Bath
RHONDA MULVANY, Listing Office: SOMER REAL ESTATE
Is Salem Township, IL 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 Buyer's Market.
Key Takeaway
Salem Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Salem Township, IL
How much do homes in Salem Township, IL cost?
Median Sold Price
$179,450
$116/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$127,450(+245.1%)
Key Takeaway
Homes in Salem Township have sold for 245.1% more than they did a month ago.
Summary: The median home sold price in Salem Township was $179,450 in October 2024, up 245.1% from last month, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $46K | $76.2K | +65.8% |
| 3 Bedrooms | $102.5K | $169K | +64.9% |
| 4 Bedrooms | $210.3K | $300K | +42.7% |
| 5+ Bedrooms | - | - | N/A |
Summary: Salem Township housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 65.8%, 3 bedroom homes increased by 64.9%, 4 bedroom homes increased by 42.7%, and 5+ bedroom homes did not change.
Housing Supply in Salem Township, IL
How many homes are available in Salem Township, IL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 41 | 47 | +14.6% |
Summary: The Salem Township real estate market had 47 homes for sale in October 2024, a 14.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 11 | 11 | 0.0% |
| 3 Bedrooms | 21 | 23 | +9.5% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 0 | 3 | +100.0% |
Summary: The Salem Township housing inventory by bedroom type for October 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 9.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 12 | +140.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Salem Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Salem Township in October 2024, up by 140.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for Salem Township, IL
How long does it take to sell a home in Salem Township, IL?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 27 Days | +26.6% |
Summary: Homes in Salem Township had an average of 27 days on market in Oct 2024, up by 26.6% compared to last month.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Salem Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in Salem Township; 58% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.