Is Salem, NH 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 has remained a Seller's Market.
Housing Prices in Salem, NH
How much do homes in Salem, NH cost?
Median Sold Price
$580,000
$319/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Salem was $580,000 in May 2024, up 16% from last year, and the median price per square foot was $319.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $150K | $327.5K | +118.3% |
2 Bedrooms | $415K | $710K | +71.1% |
3 Bedrooms | $492.5K | $522.5K | +6.1% |
4 Bedrooms | $645K | $782.5K | +21.3% |
5+ Bedrooms | $730K | $1.1M | +60.3% |
Summary: Salem housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 118.3%, 2 bedroom homes increased by 71.1%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes increased by 60.3%.
Median Sold Price Compared To Nearby Cities
Salem | $500K | $580K | +16.0% |
Methuen | $512.7K | $549.7K | +7.2% |
Methuen Town | $514K | $549.7K | +6.9% |
Housing Supply in Salem, NH
How many homes are available in Salem, NH?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
66 | 92 | +39.4% |
Summary: The Salem real estate market had 92 homes for sale in May 2024, a 39.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 10 | 7 | -30.0% |
2 Bedrooms | 24 | 31 | +29.2% |
3 Bedrooms | 22 | 36 | +63.6% |
4 Bedrooms | 9 | 17 | +88.9% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Salem housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 30%, 2 bedroom homes increased by 29.2%, 3 bedroom homes increased by 63.6%, 4 bedroom homes increased by 88.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 29 | +61.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Salem in May 2024, up by 61.1% month-over-month. Of the 29 sold homes, 24% were sold under asking, 24% were sold at asking, and 52% were sold over asking.
Days on Market for Salem, NH
How long does it take to sell a home in Salem, NH?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
4 Days | 11 Days | +191.7% |
Summary: Homes in Salem had an average of 11 days on market in May 2024, up by 191.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 29 homes were sold in Salem; 10% 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.