$10,000 Closing Credit*
$1,275,000
5,188 SqFt
4 Beds
•3 Full Baths, 1 Partial
Noah Bange, Listing Office: Lamacchia Realty, Inc.
Is Salem, NH 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, NH
How much do homes in Salem, NH cost?
Median Sold Price
$625,000
$309/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$135,000(+27.6%)
Key Takeaway
Homes in Salem have sold for 27.6% more than they did a year ago.
Summary: The median home sold price in Salem was $625,000 in November 2024, up 27.6% from last year, and the median price per square foot was $309.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $615K | +310.0% |
| 2 Bedrooms | $555K | $495K | -10.8% |
| 3 Bedrooms | $477.5K | $587.4K | +23.0% |
| 4 Bedrooms | $732.5K | $700K | -4.4% |
| 5+ Bedrooms | $769K | $675K | -12.2% |
Summary: Salem housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 310%, 2 bedroom homes decreased by 10.8%, 3 bedroom homes increased by 23%, 4 bedroom homes decreased by 4.4%, and 5+ bedroom homes decreased by 12.2%.
Median Sold Price Compared To Nearby Cities
| Salem | $490K | $625K | +27.6% |
| Methuen | $525K | $575K | +9.5% |
| Methuen Town | $525K | $575K | +9.5% |
Housing Supply in Salem, NH
How many homes are available in Salem, NH?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 83 | 77 | -7.2% |
Summary: The Salem real estate market had 77 homes for sale in November 2024, a 7.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 13 | 18 | +38.5% |
| 3 Bedrooms | 40 | 38 | -5.0% |
| 4 Bedrooms | 19 | 13 | -31.6% |
| 5+ Bedrooms | 8 | 5 | -37.5% |
Summary: The Salem 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 increased by 38.5%, 3 bedroom homes decreased by 5%, 4 bedroom homes decreased by 31.6%, and 5+ bedroom homes decreased by 37.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 31 | +82.4% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Salem, you could pay more than the asking price. 54.8% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in Salem in November 2024, up by 82.4% month-over-month. Of the 31 sold homes, 35% were sold under asking, 10% were sold at asking, and 55% were sold over asking.
Days on Market for Salem, NH
How long does it take to sell a home in Salem, NH?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 27 Days | 43 Days | +58.2% |
Summary: Homes in Salem had an average of 43 days on market in Nov 2024, up by 58.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Salem are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 31 homes were sold in Salem; 3% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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