Is Salem Township, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Salem Township has remained a Seller's Market.
Housing Prices in Salem Township, OH
How much do homes in Salem Township, OH cost?
Median Sold Price
$172,000
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Salem Township was $172,000 in May 2024, up 15.2% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $90K | $70.6K | -21.5% |
2 Bedrooms | $119.3K | $118K | -1.1% |
3 Bedrooms | $150K | $180K | +20.0% |
4 Bedrooms | $235K | $232.5K | -1.1% |
5+ Bedrooms | $177.5K | $185K | +4.2% |
Summary: Salem Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.5%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes increased by 4.2%.
Median Sold Price Compared To Nearby Cities
Richmond | $154.5K | $250K | +61.8% |
Salem Township | $149.3K | $172K | +15.2% |
Housing Supply in Salem Township, OH
How many homes are available in Salem Township, OH?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
105 | 94 | -10.5% |
Summary: The Salem Township real estate market had 94 homes for sale in May 2024, a 10.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 18 | 15 | -16.7% |
3 Bedrooms | 64 | 57 | -10.9% |
4 Bedrooms | 16 | 16 | 0.0% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Salem Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 10.9%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
26 | 29 | +11.5% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Salem Township in May 2024, up by 11.5% month-over-month. Of the 29 sold homes, 45% were sold under asking, 24% were sold at asking, and 31% were sold over asking.
Days on Market for Salem Township, OH
How long does it take to sell a home in Salem Township, OH?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
42 Days | 54 Days | +28.0% |
Summary: Homes in Salem Township had an average of 54 days on market in May 2024, up by 28% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During May 2024, 29 homes were sold in Salem Township; 34% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.