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 November 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

$331,500

$207/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$3,500(-1.0%)

Key Takeaway

Homes in Salem have sold for 1% less than they did a year ago.

Summary: The median home sold price in Salem was $331,500 in November 2024, down 1% from last year, and the median price per square foot was $207.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $159.5K$165K
+3.4%
2 $190.2K$215K
+13.0%
3 $331.2K$322.5K
-2.6%
4 $399.9K$407.5K
+1.9%
5+ $589.9K$514.9K
-12.7%

Summary: Salem housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 13%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 12.7%.

Median Sold Price Compared To Nearby Cities

Salem
-1.0%
Trevor
-2.7%
Paddock Lake
-4.9%
Bristol
-8.5%

Housing Supply in Salem, WI

How many homes are available in Salem, WI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
8069-13.8%

Summary: The Salem real estate market had 69 homes for sale in November 2024, a 13.8% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 1611
-31.3%
3 4235
-16.7%
4 1820
+11.1%
5+ 32
-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 31.3%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2812-57.1%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer58%25%17%

Key Takeaway

If you're buying a home in Salem, you may be able to get a good deal. 58.3% 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 57.1% month-over-month. Of the 12 sold homes, 58% were sold under asking, 25% were sold at asking, and 17% were sold over asking.

Days on Market for Salem, WI

We’re sorry, we don't have information for this market at the moment

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

Report Updated 17 Days Ago

Newest Listings in Salem, WI

Nearby Markets to Salem, WI

What housing markets are near Salem, WI?