$7,422 Closing Credit*
$625,000
3,584 SqFt
5 Beds
•3 Full Baths
Stacey Russell, 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 November 2023
Since last year, Salem Township has remained a Seller'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
$139,500
$98/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$4,500(+3.3%)
Key Takeaway
Homes in Salem Township have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in Salem Township was $139,500 in November 2024, up 3.3% from last year, and the median price per square foot was $98.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $87.5K | $60K | -31.4% |
| 2 Bedrooms | $76.5K | $65K | -15.0% |
| 3 Bedrooms | $135K | $164.7K | +22.0% |
| 4 Bedrooms | $191K | $200K | +4.7% |
| 5+ Bedrooms | $177.5K | $178.2K | 0.4% |
Summary: Salem Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.4%, 2 bedroom homes decreased by 15%, 3 bedroom homes increased by 22%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 0.4%.
Median Sold Price Compared To Nearby Cities
| Salem Township | $135K | $139.5K | +3.3% |
| Mount Carroll Township | $137.7K | $128.5K | -6.7% |
Housing Supply in Salem Township, IL
How many homes are available in Salem Township, IL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 50 | 48 | -4.0% |
Summary: The Salem Township real estate market had 48 homes for sale in November 2024, a 4.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 12 | 12 | 0.0% |
| 3 Bedrooms | 23 | 22 | -4.3% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Salem Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 11 | -8.3% |
Asking Price vs. Sold Price
5 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. 45.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Salem Township in November 2024, down by 8.3% month-over-month. Of the 11 sold homes, 45% were sold under asking, 18% were sold at asking, and 36% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 20 Days | 27 Days | +39.5% |
Summary: Homes in Salem Township had an average of 27 days on market in Nov 2024, up by 39.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Salem Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 11 homes were sold in Salem Township; 55% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.