Is New Salem Township, NC 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, New Salem Township was a Seller's Market.
Key Takeaway
New Salem Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in New Salem Township, NC
How much do homes in New Salem Township, NC cost?
Median Sold Price
$500,000
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in New Salem Township have sold for 25.9% more than they did a year ago.
Summary: The median home sold price in New Salem Township was $500,000 in May 2024, up 25.9% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $252K | $355K | +40.9% |
| 3 Bedrooms | $388.7K | $447.5K | +15.1% |
| 4 Bedrooms | $467.5K | $590K | +26.2% |
| 5+ Bedrooms | - | - | N/A |
Summary: New 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 40.9%, 3 bedroom homes increased by 15.1%, 4 bedroom homes increased by 26.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| New Salem Township | $397K | $500K | +25.9% |
| Marshville Township | $290K | $349.9K | +20.7% |
| Furr Township | $365K | $385K | +5.5% |
| Big Lick Township | $325.6K | $332K | +2.0% |
Housing Supply in New Salem Township, NC
How many homes are available in New Salem Township, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 10 | +11.1% |
Summary: The New Salem Township real estate market had 10 homes for sale in May 2024, a 11.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 4 | 2 | -50.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The New 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 remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 1 | -66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Salem Township, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in New Salem Township in May 2024, down by 66.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for New Salem Township, NC
How long does it take to sell a home in New Salem Township, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 3 Days | 8 Days | +166.7% |
Summary: Homes in New Salem Township had an average of 8 days on market in May 2024, up by 166.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Salem Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1 homes were sold in New Salem Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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