Is Salem Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Salem Township was a Buyer's Market.
Housing Prices in Salem Township, PA
How much do homes in Salem Township, PA cost?
Median Sold Price
$245,000
$172/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 $245,000 in May 2024, up 6.5% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $319.9K | - | N/A |
2 Bedrooms | $140K | $182.5K | +30.4% |
3 Bedrooms | $280K | $295K | +5.4% |
4 Bedrooms | $385.7K | $245K | -36.5% |
5+ Bedrooms | $350K | $495K | +41.4% |
Summary: Salem Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30.4%, 3 bedroom homes increased by 5.4%, 4 bedroom homes decreased by 36.5%, and 5+ bedroom homes increased by 41.4%.
Median Sold Price Compared To Nearby Cities
New Alexandria | $170K | $189K | +11.2% |
Salem Township | $230K | $245K | +6.5% |
Delmont | $247.5K | $231.7K | -6.4% |
Housing Supply in Salem Township, PA
How many homes are available in Salem Township, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 18 | +38.5% |
Summary: The Salem Township real estate market had 18 homes for sale in May 2024, a 38.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 5 | 7 | +40.0% |
4 Bedrooms | 4 | 7 | +75.0% |
5+ Bedrooms | 2 | 1 | -50.0% |
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 increased by 100%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 75%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1 | 5 | +400.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Salem Township in May 2024, up by 400.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Salem Township, PA
How long does it take to sell a home in Salem Township, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
258 Days | 56 Days | -78.1% |
Summary: Homes in Salem Township had an average of 56 days on market in May 2024, down by 78.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Salem Township; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.