$570,000
38.00 Acres
Land
Veronica A Merriel
Is Salem County, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Salem County was a Seller's Market.
Key Takeaway
Salem County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Salem County, NJ
How much do homes in Salem County, NJ cost?
Median Sold Price
$258,186
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,186(+6.2%)
Key Takeaway
Homes in Salem County have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Salem County was $258,186 in October 2024, up 6.2% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $126K | $178.8K | +42.0% |
| 2 Bedrooms | $160K | $191.5K | +19.7% |
| 3 Bedrooms | $241K | $259.9K | +7.8% |
| 4 Bedrooms | $299K | $330K | +10.4% |
| 5+ Bedrooms | $289.9K | $275K | -5.1% |
Summary: Salem County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42%, 2 bedroom homes increased by 19.7%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes decreased by 5.1%.
Median Sold Price Compared To Nearby Counties
| Gloucester County | $305K | $338.6K | +11.0% |
| Cumberland County | $230.2K | $251.1K | +9.1% |
| New Castle County | $335.3K | $357.6K | +6.6% |
| Salem County | $243K | $258.1K | +6.2% |
Housing Supply in Salem County, NJ
How many homes are available in Salem County, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 274 | 282 | +2.9% |
Summary: The Salem County real estate market had 282 homes for sale in October 2024, a 2.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 41 | 38 | -7.3% |
| 3 Bedrooms | 126 | 121 | -4.0% |
| 4 Bedrooms | 79 | 93 | +17.7% |
| 5+ Bedrooms | 28 | 29 | +3.6% |
Summary: The Salem County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 7.3%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 17.7%, and 5+ bedroom homes increased by 3.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 63 | 29 | -54.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Salem County, expect to pay close to the asking price. 41.4% of homes here sold near the asking price last month.
Summary: A total of 29 homes were sold or pending in Salem County in October 2024, down by 54.0% month-over-month. Of the 29 sold homes, 31% were sold under asking, 41% were sold at asking, and 28% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 39 Days | +33.1% |
Summary: Homes in Salem County had an average of 39 days on market in Oct 2024, up by 33.1% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
2 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 October 2024, 29 homes were sold in Salem County; 55% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 7% 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. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.