$7,113 Closing Credit*
$599,000
1,568 SqFt
2 Beds
•2 Full Baths, 1 Partial
Listing Office: Houlihan Lawrence Inc.
Is South Salem, NY 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, South Salem has remained a Seller's Market.
Key Takeaway
South Salem is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Salem, NY
How much do homes in South Salem, NY cost?
Median Sold Price
$835,000
$365/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$52,500(+6.7%)
Key Takeaway
Homes in South Salem have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in South Salem was $835,000 in November 2024, up 6.7% from last year, and the median price per square foot was $365.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265K | $373K | +40.8% |
| 2 Bedrooms | $599K | $550K | -8.2% |
| 3 Bedrooms | $760K | $796.7K | +4.8% |
| 4 Bedrooms | $1.0M | $1.1M | +12.0% |
| 5+ Bedrooms | $1.2M | $1.4M | +22.9% |
Summary: South Salem housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40.8%, 2 bedroom homes decreased by 8.2%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 12%, and 5+ bedroom homes increased by 22.9%.
Median Sold Price Compared To Nearby Cities
| Lewisboro | $782.5K | $899K | +14.9% |
| South Salem | $782.5K | $835K | +6.7% |
| Ridgefield | $900K | $940K | +4.4% |
Housing Supply in South Salem, NY
How many homes are available in South Salem, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 36 | 33 | -8.3% |
Summary: The South Salem real estate market had 33 homes for sale in November 2024, a 8.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 3 | -40.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 11 | 9 | -18.2% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The South Salem housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Salem, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in South Salem in November 2024, up by 14.3% month-over-month. Of the 8 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for South Salem, NY
How long does it take to sell a home in South Salem, NY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 62 Days | +114.5% |
Summary: Homes in South Salem had an average of 62 days on market in Nov 2024, up by 114.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in South Salem has remained consistent over time.
Summary: During November 2024, 8 homes were sold in South Salem; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.