$1,247 Closing Credit*
$105,000
1,904 SqFt
3 Beds
•1 Full Bath, 1 Partial
Marcia A Greening, Listing Office: Century 21 Lakeside Realty
Is Salem, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Salem was a Seller's Market.
Key Takeaway
Salem is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Salem, OH
How much do homes in Salem, OH cost?
Median Sold Price
$167,450
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$5,575(+3.4%)
Key Takeaway
Homes in Salem have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Salem was $167,450 in November 2024, up 3.4% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $67.9K | $102.5K | +51.0% |
| 2 Bedrooms | $122.1K | $127.7K | +4.6% |
| 3 Bedrooms | $171.2K | $173.7K | +1.5% |
| 4 Bedrooms | $220K | $231K | +5.0% |
| 5+ Bedrooms | $230K | $346.5K | +50.7% |
Summary: Salem housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 51%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 50.7%.
Median Sold Price Compared To Nearby Cities
| Perry Township | $249.9K | $312.7K | +25.2% |
| Perry Township | $172.5K | $189.9K | +10.1% |
| Salem | $161.8K | $167.4K | +3.4% |
| Salem Township | $160K | $165.3K | +3.3% |
Housing Supply in Salem, OH
How many homes are available in Salem, OH?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 88 | 81 | -8.0% |
Summary: The Salem real estate market had 81 homes for sale in November 2024, a 8.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 20 | 17 | -15.0% |
| 3 Bedrooms | 42 | 39 | -7.1% |
| 4 Bedrooms | 20 | 17 | -15.0% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Salem 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 15%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 15%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 | 12 | -53.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Salem, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Salem in November 2024, down by 53.8% month-over-month. Of the 12 sold homes, 83% were sold under asking, 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 56 Days | 50 Days | -9.9% |
Summary: Homes in Salem had an average of 50 days on market in Nov 2024, down by 9.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Salem has remained consistent over time.
Summary: During November 2024, 12 homes were sold in Salem; 33% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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