Real Estate Market Stats for Salem May 2017

    Where is Salem’s Summer?

    We have had the longest wettest fall/winter that I can remember.  I think it did effect our sales some but the recurring theme here is that we have very low inventory.  Thinking of listing lets talk.. Even if you don’t hire us knowing your homes market value is important.

    As soon as the sun came out so did the buyers and sellers.  We were hammered with buyers searching and home owners wanting to get their home’s listed for sale.

    Here are the real estate market stats through May 2017.

    There were 1555 new listings that came on the market and a total of 2704 listings available. In the month of May 2016 there were 1456 new listings that came on the market and a total of 3241 on the market. That is a 16.5% decrease in listings available this year over last year at the same time.

    In May 2017, there were 956 closed sales. With that number of closed sales we have approximately 2.8 months of inventory on the market.  Again, you can see we need homes for sale.

    Our days on market are hovering around 100.

    Hopefully summer is here to stay for awhile.  Enjoy!!




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