Is Salem, NJ 08079 a buyer’s or seller’s market?

The Salem housing market right now

In the three months ending August 31, 2026, 30% of homes in Salem, NJ 08079 sold above their list price, the typical home went under contract in 62 days and there were 4.9 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 38 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (29% then), homes sold more slowly (50 days then) and the median sale price fell 9% to $177,923. Overall, Salem is about as competitive as it was a year ago.

Within Salem County, homes here sell more slowly than in 75% of the county’s ZIP codes, and sell more often over asking than in 63%. On our competition score, Salem ranks #428 of 444 NJ ZIP codes with enough sales (score 32 out of 100).

Nearby, buyers who want less competition could look at Quinton 08072 (0% sold over asking) or Alloway 08001 (0% sold over asking), while Monroeville 08343 (44% sold over asking) and Elmer 08318 (33% sold over asking) are even more competitive.