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.
Housing Prices in Salem Township, OH
How much do homes in Salem Township, OH cost?
Median Sold Price
$175,000
$122/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 $175,000 in May 2024, up 15.8% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $90K | $108.1K | +20.2% |
2 Bedrooms | $125K | $123.8K | -1.0% |
3 Bedrooms | $155K | $180K | +16.1% |
4 Bedrooms | $235K | $236K | 0.4% |
5+ Bedrooms | $220K | $185K | -15.9% |
Summary: Salem Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.2%, 2 bedroom homes decreased by 1%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes decreased by 15.9%.
Median Sold Price Compared To Nearby Cities
Salem Township | $151.1K | $175K | +15.8% |
Urbana | $215K | $205K | -4.7% |
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 |
---|---|---|
101 | 90 | -10.9% |
Summary: The Salem Township real estate market had 90 homes for sale in May 2024, a 10.9% 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 | 18 | 15 | -16.7% |
3 Bedrooms | 60 | 53 | -11.7% |
4 Bedrooms | 15 | 16 | +6.7% |
5+ Bedrooms | 7 | 5 | -28.6% |
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 16.7%, 3 bedroom homes decreased by 11.7%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
26 | 28 | +7.7% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Salem Township in May 2024, up by 7.7% month-over-month. Of the 28 sold homes, 46% were sold under asking, 25% were sold at asking, and 29% 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 |
---|---|---|
41 Days | 55 Days | +33.9% |
Summary: Homes in Salem Township had an average of 55 days on market in May 2024, up by 33.9% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During May 2024, 28 homes were sold in Salem Township; 36% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.