$4,501 Closing Credit*
$379,000
1,673 SqFt
3 Beds
•2 Full Baths
Christy Myers, Listing Office: American Dream Realty of South Jersey
Is Salem County, NJ 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 County has remained a Seller's Market.
Key Takeaway
Salem County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Salem County, NJ
How much do homes in Salem County, NJ cost?
Median Sold Price
$260,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$10,943(+4.4%)
Key Takeaway
Homes in Salem County have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in Salem County was $260,000 in November 2024, up 4.4% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $126K | $178.8K | +42.0% |
| 2 Bedrooms | $164.5K | $185K | +12.5% |
| 3 Bedrooms | $246.2K | $260K | +5.6% |
| 4 Bedrooms | $298K | $339.9K | +14.1% |
| 5+ Bedrooms | $292.4K | $277.5K | -5.1% |
Summary: Salem County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 14.1%, and 5+ bedroom homes decreased by 5.1%.
Median Sold Price Compared To Nearby Counties
| Cumberland County | $233K | $256.4K | +10.1% |
| Gloucester County | $310K | $341K | +10.0% |
| New Castle County | $336.1K | $359.6K | +7.0% |
| Salem County | $249K | $260K | +4.4% |
Housing Supply in Salem County, NJ
How many homes are available in Salem County, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 272 | 291 | +7.0% |
Summary: The Salem County real estate market had 291 homes for sale in November 2024, a 7.0% increase 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 | 33 | 32 | -3.0% |
| 3 Bedrooms | 125 | 141 | +12.8% |
| 4 Bedrooms | 87 | 94 | +8.0% |
| 5+ Bedrooms | 26 | 23 | -11.5% |
Summary: The Salem County 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 decreased by 3%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 8%, and 5+ bedroom homes decreased by 11.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 31 | 59 | +90.3% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Salem County, you may be able to get a good deal. 42.4% of homes here sold below asking price last month.
Summary: A total of 59 homes were sold or pending in Salem County in November 2024, up by 90.3% month-over-month. Of the 59 sold homes, 42% were sold under asking, 32% were sold at asking, and 25% were sold over asking.
Days on Market for Salem County, NJ
How long does it take to sell a home in Salem County, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 35 Days | 36 Days | +4.8% |
Summary: Homes in Salem County had an average of 36 days on market in Nov 2024, up by 4.8% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Salem County are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 59 homes were sold in Salem County; 59% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved.