Salem, OR Home Values & Market Trends
Real estate market trends reflect that there have been 2,546 transactions over the past year in Salem. The median value for residential home transactions that occurred over the previous year is $415,252.84. The number of current listings in Salem is 544, and the percentage of properties for sale in the city is 544.00%. Salem, OR currently has 39 properties in foreclosure, 4 bank owned properties, 35 properties headed for auction, and 544 properties for sale.
Salem, OR Real Estate Market Overview
| Zip | Median Est. Value | Zip | Median Est. Value |
|---|---|---|---|
| 97304 | $ 530,349 $ 242/sqft | 97303 | $ 453,444 $ 261/sqft |
| 97304 | $ 530,349 $ 242/sqft | 97305 | $ 419,450 $ 250/sqft |
| 97302 | $ 466,127 $ 254/sqft | 97305 | $ 419,450 $ 250/sqft |
| 97301 | $ 360,048 $ 260/sqft | 97317 | $ 520,904 $ 293/sqft |
| 97302 | $ 466,127 $ 254/sqft | 97317 | $ 520,904 $ 293/sqft |
| 97301 | $ 360,048 $ 260/sqft | 97310 | $ -- $ -- |
| 97306 | $ 496,062 $ 256/sqft | 97312 | $ -- $ -- |
| 97306 | $ 496,062 $ 256/sqft | 97310 | $ -- $ -- |
| 97303 | $ 453,444 $ 261/sqft | 97312 | $ -- $ -- |
Housing Market Summary for Salem, OR
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $440K | $418.2K | -4.95% |
| Median Sold Price | $419.4K | $418.2K | -0.29% |
| Homes For Sale | 449 | 456 | 1.56% |
| Homes Sold | 1,629 | 1,439 | -11.66% |
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%.
Recently Sold Homes
Explore recent offers and recently sold homes in Salem, OR
Browse Homes in Salem, OR
Salem home values range from $19,677 to $5,274,926. The median estimated value of a home in Salem is $415,252.84. The median list price of a home is 474,950, and the total count of properties in the city is 60,360.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in Salem, OR with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 18 zips within Salem, OR; of those zips, the estimated home value for pre-foreclosure homes ranges from $0 in N/A to the lowest home value of $0 in $[pre-foreclosures-lowest-avm-region].
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Salem, OR ranges from the highest value of $885,711 in 97306 to the lowest value of $193,664 in 97302. Bank owned homes and properties account for 0.01% of properties in Salem, OR. There are 18 zips within Salem, OR; 97306 containing 1 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions97301 has 10 auction properties, the highest number of properties going to auction in a single zip in the state of Salem, OR. Auction homes and other auction properties account for 0.06% of all properties in Salem, OR. There are 18 zips within Salem, OR; of those zips, the median estimated home value for homes going to auction ranges from $453,827 in 97306 to the lowest value of $197,256 in 97306.
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Guide for Salem, OR
Learn how a short sale can stop the foreclosure process.
Learn effective strategies to safeguard your credit score after experiencing a foreclosure.
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