Salem condo supply jumps

Salem is a hot city with lots of good things happening there, especially for young people who are buying condos. So far this year the median condo price has increased by more than 10%. This trend has naturally attracted developers and others resulting in a sharp increase in the supply of condos for sale in the last couple or months, as shown in this chart (1 – Jan 1, 2 = Feb 1, etc, 7 = Jun 27):

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.

Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated

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