Salem, NJ Foreclosures
How much do homes sell for in Salem, NJ?
The average home price is currently $218,737.
In Salem, NJ, how many homes are available?
There are currently 359 active home listings available in Salem.
What’s the average rental cost in Salem, NJ?
The average rental price in Salem is $1,229.
What is the most expensive home in Salem?
The most expensive home sold in Salem had a price of $2,500,000.
What is currently the cheapest priced home in Salem, NJ?
The cheapest home for sale in Salem is priced at $10,050.
Living in Salem, NJ
Salem, NJ, is a quaint city known for its historical significance and picturesque waterfront along the Salem River. With a strong sense of community and access to parks and recreational activities, it provides a delightful living environment for families and individuals. Its proximity to major highways makes commuting to surrounding areas quick and convenient.
Current Market Conditions in Salem, NJ
The current real estate market in Salem, NJ, shows moderate activity, with a balanced demand for homes. The area has seen a slight increase in home values over the past few months, driven by buyers seeking homes in quieter, suburban areas. As a result, the market is considered stable, with opportunities for both buyers and sellers.
There has been a growing interest in Salem as more people are looking for affordable housing options within commuting distance to larger cities. This trend is expected to continue as remote working arrangements remain prevalent, leading to a larger pool of potential buyers eager to enjoy the more relaxed lifestyle that Salem has to offer.
Home Value Estimator For Salem, NJ
There are currently 3,573 real estate properties
in Salem, NJ,
with a median automated valuation model (AVM) price
of $188,374.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Salem, NJ, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Salem, NJ,
is $218,737.00, with the most expensive house
in Salem, NJ, topping out
at $2,500,000.00 and the cheapest home
in Salem, NJ,
clocking in at $10,050.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Salem, NJ!
Rent Prices
In Salem, NJ
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Salem, NJ, is on
a rollercoaster ride. The
average rent price in Salem, NJ,
is $1,229.00. Indeed, when looking to rent in
Salem, NJ, you can expect to pay as little
as $750.00 or as much
as $2,000.00,
with the average rent median estimated to
be $1,220.00. The good news is that finding
an affordable and desirable property to rent in Salem, NJ
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
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