South Salem, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating South Salem Neighborhoods Since 2000




South Salem, NY Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

South Salem Housing Market Information

With a population of 9,643, 1,827 total housing units (homes and apartments), and a median house value of $799,061, South Salem house prices are not only among the most expensive in New York, South Salem real estate also is some of the most expensive in all of America.

South Salem is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in South Salem than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in South Salem. Owner-occupied housing accounts for 92.26% of South Salem's homes, and 66.87% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in South Salem built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in South Salem built between 1940-1969 ( 23.93%). A lesser amount of the housing stock also hails from before 1939 ( 16.22%). There's also some housing in South Salem built between 2000 and later ( 3.53%).

South Salem Home Appreciation Rates

South Salem's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in South Salem during the period has been just -1.07%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, South Salem's appreciation rate, at 4.13%, has been at or slightly above the national average. In the latest quarter, South Salem's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New York, our data show that South Salem's latest annual appreciation rate is higher than 60% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$799,061

South Salem, NY HOME PRICES

Value Range
> $1,105,000 14.6
$829,001 - $1,105,000 21.3
$553,001 - $829,000 31.8
$442,001 - $553,000 15.4
$332,001 - $442,000 8.8
$221,001 - $332,000 4.0
$111,001 - $221,000 2.2
$55,001 - $111,000 0.5
$0 - $55,000 1.4

Very High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
1.93952888784718 6.06060606060606

Number Of Homes And Apartments:
1,827

South Salem Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
55.41% 2.59% 5 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,961 / per month

Homeownership Rate

Homeownership
Owners 92.26
Renters 7.74
Vacant 9.59

Housing Market Details

 

Age of Homes

AGE OF South Salem HOMES
2000 or Newer 3.5
1970 - 1999 56.3
1940 - 1969 23.9
1939 or Older 16.2

Types of Homes

TYPE OF South Salem HOMES
Single-Family 87.1
Townhomes 7.9
Small Apt. Buildings 3.0
Apt. Complexes 1.7
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF South Salem HOMES
No Bedroom 0.75
1 Bedroom 8.92
2 Bedrooms 10.57
3 Bedrooms 29.06
4 Bedrooms 37.81
5 or more bedrooms 12.89

Popular Neighborhoods in South Salem

Zip Codes in South Salem, NY