Is West Salem, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Salem is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, West Salem has remained a Seller's Market.

Key Takeaway

West Salem is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in West Salem, OH

How much do homes in West Salem, OH cost?

Median Sold Price

$230,000

$149/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$33,550(+17.1%)

Key Takeaway

Homes in West Salem have sold for 17.1% more than they did a year ago.

Summary: The median home sold price in West Salem was $230,000 in September 2024, up 17.1% from last year, and the median price per square foot was $149.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $68.5K-
N/A
2 $166K$225K
+35.5%
3 $203.4K$230K
+13.0%
4 $250.1K$299K
+19.6%
5+ $975K$375K
-61.5%

Summary: West Salem housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 35.5%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 19.6%, and 5+ bedroom homes decreased by 61.5%.

Median Sold Price Compared To Nearby Cities

Congress Township
+33.8%
West Salem
+17.1%

Housing Supply in West Salem, OH

How many homes are available in West Salem, OH?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
3423-32.4%

Summary: The West Salem real estate market had 23 homes for sale in September 2024, a 32.4% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 74
-42.9%
3 2115
-28.6%
4 53
-40.0%
5+ 11
0.0%

Summary: The West Salem housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 42.9%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
117-36.4%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Salem, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.

Summary: A total of 7 homes were sold or pending in West Salem in September 2024, down by 36.4% month-over-month. Of the 7 sold homes, 43% were sold under asking, 57% were sold at asking, and 0% were sold over asking.

Days on Market for West Salem, OH

How long does it take to sell a home in West Salem, OH?

Average Sale Time

Sep 2023Sep 2024CHANGE
70 Days29 Days-58.0%

Summary: Homes in West Salem had an average of 29 days on market in Sep 2024, down by 58% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in West Salem are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 7 homes were sold in West Salem; 57% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 29 Days Ago

Newest Listings in West Salem, OH

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