Is Salem Township, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Salem Township has remained a Seller's Market.
Key Takeaway
Salem Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Salem Township, OH
How much do homes in Salem Township, OH cost?
Median Sold Price
$172,500
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Salem Township have sold for 14.6% more than they did a year ago.
Summary: The median home sold price in Salem Township was $172,500 in May 2024, up 14.6% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $76.3K | -15.2% |
| 2 Bedrooms | $125K | $129.9K | +3.9% |
| 3 Bedrooms | $150K | $180K | +20.0% |
| 4 Bedrooms | $222.8K | $210.6K | -5.4% |
| 5+ Bedrooms | $220K | $160K | -27.3% |
Summary: Salem Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.2%, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes decreased by 27.3%.
Median Sold Price Compared To Nearby Cities
| Erie Township | $126.1K | $300K | +137.9% |
| Carroll Township | $174.9K | $243K | +38.9% |
| Salem Township | $150.5K | $172.5K | +14.6% |
| Oak Harbor | $154.5K | $175.5K | +13.6% |
Housing Supply in Salem Township, OH
How many homes are available in Salem Township, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 118 | 107 | -9.3% |
Summary: The Salem Township real estate market had 107 homes for sale in May 2024, a 9.3% decrease 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 | 25 | 21 | -16.0% |
| 3 Bedrooms | 71 | 61 | -14.1% |
| 4 Bedrooms | 16 | 20 | +25.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
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 decreased by 16%, 3 bedroom homes decreased by 14.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 | 37 | +8.8% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Salem Township, you may be able to get a good deal. 43.2% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in Salem Township in May 2024, up by 8.8% month-over-month. Of the 37 sold homes, 43% were sold under asking, 30% were sold at asking, and 27% were sold over asking.
Days on Market for Salem Township, OH
How long does it take to sell a home in Salem Township, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 44 Days | 53 Days | +19.4% |
Summary: Homes in Salem Township had an average of 53 days on market in May 2024, up by 19.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Salem Township has remained consistent over time.
Summary: During May 2024, 37 homes were sold in Salem Township; 35% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
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