Is Salem, WI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Salem is a 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, WI

How much do homes in Salem, WI cost?

Median Sold Price

$335,000

$206/sqft

Based on all homes sold in the last 12 months.

The Median Sold Price hasn't changed since October 2023.

Key Takeaway

The sold price of homes in Salem has remained the same since last year.

Summary: The median home sold price in Salem was $335,000 in October 2024, the same as last year, and the median price per square foot was $206.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $159.5K$161.9K
+1.5%
2 $200.2K$216K
+7.9%
3 $327.4K$325K
-0.7%
4 $404.9K$373.5K
-7.8%
5+ $599.9K$514.9K
-14.2%

Summary: Salem housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes increased by 7.9%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes decreased by 14.2%.

Median Sold Price Compared To Nearby Cities

Silver Lake
+18.0%
Salem
0.0%
Paddock Lake
-4.1%
Trevor
-6.2%

Housing Supply in Salem, WI

How many homes are available in Salem, WI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7381+11.0%

Summary: The Salem real estate market had 81 homes for sale in October 2024, a 11.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 32
-33.3%
2 1216
+33.3%
3 4142
+2.4%
4 1318
+38.5%
5+ 43
-25.0%

Summary: The Salem housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 38.5%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1225+108.3%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Salem, you may be able to get a good deal. 52% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in Salem in October 2024, up by 108.3% month-over-month. Of the 25 sold homes, 52% were sold under asking, 20% were sold at asking, and 28% were sold over asking.

Days on Market for Salem, WI

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

Average Sale Time

Oct 2023Oct 2024CHANGE
15 Days25 Days+66.7%

Summary: Homes in Salem had an average of 25 days on market in Oct 2024, up by 66.7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 25 homes were sold in Salem; 8% of homes were sold within 30 days, 8% 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 16 Days Ago

Newest Listings in Salem, WI

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