Salem County, NJ Home Values & Market Trends

The median home price in Salem County, NJ is $256,086.35. There were 1,111 home sales in Salem County, NJ over the past 12 months. The median residential Salem County, NJ home value for transactions over the previous year is $199,900. The number of current listings in Salem County, NJ is 95, and the percentage of properties for sale is 95.00%. The county has 363 foreclosures, 12 bank owned properties, 16 headed for auction, and 95 properties for sale.

Salem County, NJ Real Estate Market Overview

CityMedian Est. ValueCityMedian Est. Value
Salem

$ 160,900

$ 136/sqft

Pedricktown

$ 225,910

$ 82/sqft

Penns Grove

$ 158,800

$ 128/sqft

Alloway

$ 394,700

$ 140/sqft

Pennsville

$ 232,300

$ 156/sqft

Hancocks Bridge

$ --

$ --

Elmer

$ 259,000

$ 159/sqft

Quinton

$ --

$ --

Monroeville

$ 382,000

$ 196/sqft

Deepwater

$ --

$ --

Woodstown

$ 389,700

$ 199/sqft

Housing Market Summary for Salem County, NJ

Mar 2023February 2024Change
Median Listing Price$240K$239K-0.42%
Median Sold Price$181K$239K32.04%
Homes For Sale657413.85%
Homes Sold681548-19.53%
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Price Per Square Foot

On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.

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Browse Homes in Salem County, NJ

Salem County, NJ home values range from $40,100 to $538,000. Woodstown is the priciest city with a median listing home price of $489,000, and Salem is most affordable with average house prices of around $119,950.

Foreclosure
There are 11 cities within Salem County, NJ; within these cities, the median estimated home value for homes in foreclosure ranges from $285,800 in Salem to the lowest value of $82,320 in Salem. Foreclosure homes account for 1.00% of properties in Salem County, NJ with Pennsville containing 95 foreclosures, the highest number of foreclosure properties in a single city.
  • Pre-Foreclosure
    Pre-foreclosure homes account for 1.65% of all residential properties in Salem County, NJ with Pennsville containing 90 pre-foreclosures, the highest number of pre-foreclosure properties in a single city. There are 11 cities within Salem County, NJ; of those cities, the estimated home value for pre-foreclosure homes ranges from $520,900 in Quinton to the lowest home value of $82,320 in Salem.
  • Bank Owned
    The median estimated home value of bank owned homes (REO properties) in Salem County, NJ ranges from the highest value of $284,100 in Pennsville to the lowest value of $101,000 in Penns Grove. Bank owned homes and properties account for 0.06% of properties in Salem County, NJ. There are 11 cities within Salem County, NJ; Woodstown containing 3 REO properties, has the highest number of bank owned properties in a single city.
  • Auctions
    Pennsville has 4 auction properties, the highest number of properties going to auction in a single city in the state of Salem County, NJ. Auction homes and other auction properties account for 0.08% of all properties in Salem County, NJ. There are 11 cities within Salem County, NJ; of those cities, the median estimated home value for homes going to auction ranges from $244,100 in Monroeville to the lowest value of $89,350 in Monroeville.
Homes for Sale
Homes and properties that are actively listed for sale account for 0.47% of residential properties in Salem County, NJ with Salem containing 24 homes for sale, the highest number of listed properties in a single city. There are 11 cities within Salem County, NJ; homes for sale in those cities, have a range of median values from $394,700 in Alloway to the lowest value of $51,040 in Salem.
    Sold Homes
    The median value for recently sold homes ranges from $583,200 in Monroeville to the lowest price of $43,660 in Monroeville. There are 11 cities within Salem County, NJ. Pennsville has 112 recently sold homes, the highest number of recently sold properties in a single city. Recently sold homes and properties account for 2.23% of properties in Salem County, NJ.

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      Guide for Salem County, NJ

      Market Reports
      Jersey City Real Estate Thrives with Robust Demand and Strong Growth in February 2024
      Home Buying Financing
      How To Get House Mortgage With Low Credit Score
      Wholesale
      Legal Pitfalls to Avoid When Dealing with Pre-Foreclosure Sellers
      Home Buying Guides & Tips
      How Do You Buy a House if You’re Broke?
      See More Articles
      Jersey City Real Estate Thrives with Robust Demand and Strong Growth in February 2024
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      The Jersey City real estate market continues to show robust growth with prices rising to an average of $595,000 per property and $394 per square foot in February 2024.

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      Learn how to secure a house mortgage even with a low credit score.

      Legal Pitfalls to Avoid When Dealing with Pre-Foreclosure Sellers
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      Explore the legal pitfalls to avoid when dealing with pre-foreclosure sellers. Learn how to navigate the complex process safely and protect yourself from costly mistakes and legal complications.

      How Do You Buy a House if You’re Broke?
      Home Buying Guides & Tips|posted 20 March 2024

      What can you do when you want to buy a house when you’re strapped for cash?