Home Values

North Salem Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$545,100

  • 12.7% 1-year change
  • 1.9% 1-year forecast

The median home value in North Salem is $545,100. North Salem home values have gone up 12.7% over the past year and Zillow predicts they will rise 1.9% within the next year. The median price of homes currently listed in North Salem is $710,000 while the median price of homes that sold is $579,500. The median rent price in North Salem is $3,200, which is higher than the New York Metro median of $2,350.

Foreclosures will be a factor impacting home values in the next several years. In North Salem 4.4 homes are foreclosed (per 10,000). This is greater than the New York Metro value of 1.5 and also greater than the national value of 4.2

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in North Salem is 7.9%, which is higher than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of North Salem homeowners underwater on their mortgage is 5.6%, which is lower than New York Metro at 13.6%.

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Relative ZHVI
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North Salem Market Overview

Data through Nov 30, 2014
  • $545,100 ZHVI
  • 1.9% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Nov 30, 2015)
  • $710,000 Median listing price
  • No recent data Median sale price
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North Salem Market Health

Data through Nov 30, 2014
  • 6.6/10 Healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 5.6% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 7.9% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

4.4 homes(May 31, 2014) North Salem
1.5 homes New York Metro
4.2 homes United States
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Nearby Cities

Name Median ZHVI
Pound Ridge $977,400
Lewisboro $617,500
Town of Ridgefield $599,900
Name Median ZHVI
Goldens Bridge $576,400
Lincolndale $430,200
Heritage Hills $359,100
Name Median ZHVI
Southeast $279,100
Carmel Hamlet $268,700
Brewster Hill $264,900

Listings & Sales

Data through Nov 30, 2014
  • $240 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • No data Listings with price cut
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North Salem Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $3,287 North Salem
    $2,329 New York Metro
    $1,342 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 3.3 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $3,200 Rent list price (Sep 30, 2014)
  • No recent data Rent list price / sq ft
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