$3,147 Closing Credit*
$265,000
1,642 SqFt
3 Beds
•2 Full Baths
Tess Goodge, Susan Kassal, Listing Office: Hunt ERA
Is Salem, NY 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 was a Seller's Market.
Key Takeaway
Salem is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Salem, NY
How much do homes in Salem, NY cost?
Median Sold Price
$216,000
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$28,300(+15.1%)
Key Takeaway
Homes in Salem have sold for 15.1% more than they did a year ago.
Summary: The median home sold price in Salem was $216,000 in October 2024, up 15.1% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $162K | $153.2K | -5.4% |
| 2 Bedrooms | $175.2K | $255.5K | +45.8% |
| 3 Bedrooms | $200K | $190K | -5.0% |
| 4 Bedrooms | $190K | $225K | +18.4% |
| 5+ Bedrooms | $275K | $279K | +1.5% |
Summary: Salem housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.4%, 2 bedroom homes increased by 45.8%, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 18.4%, and 5+ bedroom homes increased by 1.5%.
Housing Supply in Salem, NY
How many homes are available in Salem, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 21 | +10.5% |
Summary: The Salem real estate market had 21 homes for sale in October 2024, a 10.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Salem housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Salem, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Salem in October 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Salem, NY
How long does it take to sell a home in Salem, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 330 Days | +1750.5% |
Summary: Homes in Salem had an average of 330 days on market in Oct 2024, up by 1750.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Salem are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 1 homes were sold in Salem; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
The data relating to real estate on this website comes in part from the Internet Data Exchange program of the Global MLS (GMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. 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 they may be interested in purchasing.