Is Salem Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Salem Township has remained a Seller's Market.
Housing Prices in Salem Township, IL
How much do homes in Salem Township, IL cost?
Median Sold Price
$127,000
$97/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Summary: The median home sold price in Salem Township was $127,000 in May 2024, down 15.1% from last month, and the median price per square foot was $97.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $129.2K | $60K | -53.6% |
3 Bedrooms | $150.5K | $169K | +12.3% |
4 Bedrooms | - | $177.2K | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Salem Township housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 53.6%, 3 bedroom homes increased by 12.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Mount Carroll | $26K | $144.2K | +454.8% |
Salem Township | $149.5K | $127K | -15.1% |
Housing Supply in Salem Township, IL
How many homes are available in Salem Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
45 | 47 | +4.4% |
Summary: The Salem Township real estate market had 47 homes for sale in May 2024, a 4.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 18 | 14 | -22.2% |
3 Bedrooms | 21 | 23 | +9.5% |
4 Bedrooms | 4 | 7 | +75.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Salem Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 22.2%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 75%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 12 | 0.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Salem Township in May 2024, the same as the previous month. Of the 12 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for Salem Township, IL
How long does it take to sell a home in Salem Township, IL?
Average Sale Time
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 Days | 41 Days | +27.6% |
Summary: Homes in Salem Township had an average of 41 days on market in May 2024, up by 27.6% compared to last month.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 12 homes were sold in Salem Township; 67% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.