$8,905 Closing Credit*
$749,900
4,400 SqFt
3 Beds
•3 Full Baths, 1 Partial
Kristi R Roberts, Laura Pinozzi, Listing Office: KNE Realty 360, Inc
Is Salem Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Salem Township was a Seller's Market.
Key Takeaway
Salem Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Salem Township, MI
How much do homes in Salem Township, MI cost?
Median Sold Price
$660,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$1,250(+0.2%)
Key Takeaway
The sold price of homes in Salem Township has remained the same since last year.
Summary: The median home sold price in Salem Township was $660,000 in November 2024, up 0.2% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $710.2K | $440K | -38.1% |
| 3 Bedrooms | $454.5K | $525K | +15.5% |
| 4 Bedrooms | $735K | $655K | -10.9% |
| 5+ Bedrooms | $719.9K | $1.2M | +72.2% |
Summary: Salem Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 38.1%, 3 bedroom homes increased by 15.5%, 4 bedroom homes decreased by 10.9%, and 5+ bedroom homes increased by 72.2%.
Median Sold Price Compared To Nearby Cities
| Lyon Charter Township | $550K | $600K | +9.1% |
| Northville Township | $525K | $566.2K | +7.9% |
| South Lyon | $456.5K | $479.8K | +5.1% |
| Plymouth Charter Township | $440.5K | $449.3K | +2.0% |
| Salem Township | $658.7K | $660K | 0.2% |
Housing Supply in Salem Township, MI
How many homes are available in Salem Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 18 | +12.5% |
Summary: The Salem Township real estate market had 18 homes for sale in November 2024, a 12.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 9 | +80.0% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
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 increased by 80%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 1 | -83.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Salem Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Salem Township in November 2024, down by 83.3% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Salem Township, MI
How long does it take to sell a home in Salem Township, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 42 Days | 4 Days | -90.5% |
Summary: Homes in Salem Township had an average of 4 days on market in Nov 2024, down by 90.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 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 November 2024, 1 homes were sold in Salem Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
