Is Salem Township, MO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Salem Township is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, Salem Township was a Neutral 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, MO

How much do homes in Salem Township, MO cost?

Median Sold Price

$182,000

-

Based on all homes sold in August 2024.

Difference Since Last Month

+$85,000(+87.6%)

Key Takeaway

Homes in Salem Township have sold for 87.6% more than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 --
N/A
2 $97K-
N/A
3 --
N/A
4 -$182K
N/A
5+ --
N/A

Summary: Salem Township housing prices by bedroom type for August 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Salem Township, MO

How many homes are available in Salem Township, MO?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
7982+3.8%

Summary: The Salem Township real estate market had 82 homes for sale in August 2024, a 3.8% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 11
0.0%
2 2219
-13.6%
3 3443
+26.5%
4 1613
-18.8%
5+ 66
0.0%

Summary: The Salem Township housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 13.6%, 3 bedroom homes increased by 26.5%, 4 bedroom homes decreased by 18.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
136-53.8%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

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 6 homes were sold or pending in Salem Township in August 2024, down by 53.8% 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, MO

How long does it take to sell a home in Salem Township, MO?

Average Sale Time

Jul 2024Aug 2024CHANGE
62 Days24 Days-60.8%

Summary: Homes in Salem Township had an average of 24 days on market in Aug 2024, down by 60.8% compared to last month.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Salem Township are selling fast, if you're buying plan to act quickly.

Summary: During August 2024, 6 homes were sold in Salem Township; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Salem Township, MO

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