Salem, NM Foreclosures
How much do homes sell for in Salem, NM?
The average home price is currently $196,221.
What’s the average rental cost in Salem, NM?
The average rental price in Salem is $935.
What is the most expensive home in Salem?
The most expensive home sold in Salem had a price of $903,538.
What is currently the cheapest priced home in Salem, NM?
The cheapest home for sale in Salem is priced at $26,954.
Living in Salem, NM
Salem is a small, tranquil community located in New Mexico. Known for its picturesque landscapes and close-knit community feel, it offers a unique lifestyle away from the hustle and bustle of city life. Residents enjoy the beautiful desert scenery and a variety of outdoor activities including hiking and bird-watching in the nearby natural parks.
Current Market Conditions in Salem, NM
The real estate market in Salem, NM has remained stable, featuring a mix of affordable homes and larger properties with land for buyers looking for privacy and space. The demand for rural homes has seen a slight increase, as more people seek out areas with lower costs of living and access to nature.
The market is competitive, especially for properties with larger lots or unique features that attract buyers. Sellers are seeing properties move relatively quickly, particularly those listed at reasonable prices. Investors may also find opportunities to develop land or update older homes in the area.
Home Value Estimator For Salem, NM
There are currently 329 real estate properties
in Salem, NM,
with a median automated valuation model (AVM) price
of $159,600.00. 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, NM, 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, NM,
is $196,221.00, with the most expensive house
in Salem, NM, topping out
at $903,538.00 and the cheapest home
in Salem, NM,
clocking in at $26,954.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Salem, NM!
Rent Prices
In Salem, NM
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Salem, NM, is on
a rollercoaster ride. The
average rent price in Salem, NM,
is $935.00. Indeed, when looking to rent in
Salem, NM, you can expect to pay as little
as $480.00 or as much
as $1,600.00,
with the average rent median estimated to
be $900.00. The good news is that finding
an affordable and desirable property to rent in Salem, NM
-- 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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