Salem, NJ Foreclosures
How much do homes sell for in Salem, NJ?
The average home price is currently $218,026.
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 $10,022.
Living in Salem, NJ
Salem, NJ, is a historic city with a close-knit community vibe, perfect for families and retirees. Nestled along the Salem River, the city boasts charming neighborhoods, local dining, and easy access to outdoor activities. Its welcoming atmosphere and proximity to larger urban areas offer an ideal blend of tranquility and connectivity.
Current Market Conditions in Salem, NJ
The real estate market in Salem, NJ, has shown steady growth over the past year, with an increase in home values reflecting the area's appeal for buyers seeking a small-town atmosphere. The market is characterized by a mix of historic homes and modern developments, attracting families and investors alike who are looking for good value in a burgeoning community.
Current market trends reveal a demand for single-family homes, with an uptick in interest from those relocating from larger cities. While inventory remains relatively low, homes in good condition are selling quickly, often above the asking price, indicating a competitive market.
Home Value Estimator For Salem, NJ
There are currently 3,566 real estate properties
in Salem, NJ,
with a median automated valuation model (AVM) price
of $187,758.00. 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 $218,026.00, 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 $10,022.00. 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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