$3,266 Closing Credit*
$275,000
1,080 SqFt
2 Beds
•2 Full Baths
Makayla Stoffer, Listing Office: Keller Williams Legacy Group Realty
Is Salem, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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, OH
How much do homes in Salem, OH cost?
Median Sold Price
$171,000
$125/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,500(+10.0%)
Key Takeaway
Homes in Salem have sold for 10% more than they did a year ago.
Summary: The median home sold price in Salem was $171,000 in October 2024, up 10% from last year, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $67.9K | $102.5K | +51.0% |
| 2 Bedrooms | $119K | $129.9K | +9.2% |
| 3 Bedrooms | $160K | $176.5K | +10.3% |
| 4 Bedrooms | $222.8K | $238K | +6.8% |
| 5+ Bedrooms | $240K | $268K | +11.7% |
Summary: Salem housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 51%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 11.7%.
Median Sold Price Compared To Nearby Cities
| Perry Township | $250K | $309K | +23.6% |
| Perry Township | $160.3K | $188.4K | +17.5% |
| Salem Township | $150.2K | $170K | +13.2% |
| Green Township | $242.5K | $270K | +11.3% |
| Salem | $155.5K | $171K | +10.0% |
Housing Supply in Salem, OH
How many homes are available in Salem, OH?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 95 | 90 | -5.3% |
Summary: The Salem real estate market had 90 homes for sale in October 2024, a 5.3% decrease 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 | 16 | 20 | +25.0% |
| 3 Bedrooms | 45 | 43 | -4.4% |
| 4 Bedrooms | 25 | 21 | -16.0% |
| 5+ Bedrooms | 9 | 6 | -33.3% |
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 increased by 25%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes decreased by 16%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 28 | 25 | -10.7% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Salem, you may be able to get a good deal. 70.8% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in Salem in October 2024, down by 10.7% month-over-month. Of the 24 sold homes, 71% were sold under asking, 13% were sold at asking, and 17% were sold over asking.
Days on Market for Salem, OH
How long does it take to sell a home in Salem, OH?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 43 Days | 47 Days | +8.7% |
Summary: Homes in Salem had an average of 47 days on market in Oct 2024, up by 8.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Salem has remained consistent over time.
Summary: During October 2024, 25 homes were sold in Salem; 28% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
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