Salem, IL Home Values & Market Trends
Real estate market trends reflect that there have been 177 transactions over the past year in Salem. The median value for residential home transactions that occurred over the previous year is $160,986. The number of current listings in Salem is 102, and the percentage of properties for sale in the city is 102.00%. Salem, IL currently has 2 properties in foreclosure, 1 bank owned properties, 1 properties headed for auction, and 102 properties for sale.
Salem, IL Real Estate Market Overview
| Zip | Median Est. Value |
|---|---|
| 62881 | $ 160,986 $ 111/sqft |
Housing Market Summary for Salem, IL
| Sep 2025 | September 2026 | Change | |
|---|---|---|---|
| Median Listing Price | $162.5K | $169K | 4.00% |
| Median Sold Price | $131.4K | $123.5K | -5.95% |
| Homes For Sale | 91 | 103 | 13.19% |
| Homes Sold | 79 | 91 | 15.19% |
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, IL
Browse Homes in Salem, IL
Salem home values range from $11,000 to $505,727. The median estimated value of a home in Salem is $160,986. The median list price of a home is 171,500, and the total count of properties in the city is 201.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in Salem, IL with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There is 1 zips within Salem, IL; of that 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, IL ranges from the highest value of $143,926 in 62881 to the lowest value of $143,926 in 62881. Bank owned homes and properties account for 0.50% of properties in Salem, IL. There is 1 zips within Salem, IL; 62881 containing 1 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions62881 has 1 auction properties, the highest number of properties going to auction in a single zip in the state of Salem, IL. Auction homes and other auction properties account for 0.50% of all properties in Salem, IL. There is 1 zips within Salem, IL; of that zips, the median estimated home value for homes going to auction ranges from $284,256 in 62881 to the lowest value of $284,256 in 62881.
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More Real Estate Resources for Salem, IL
Guide for Salem, IL
Foreclosure is a term that can sometimes lead to confusion for those looking to make a real estate investment. In simple terms, it refers to the process where a lender takes possession of a property after the owner fails to keep up with their mortgage payments. When it comes to land, this means that buyers […]
Descubre todo lo que necesitas saber sobre cómo comprar una casa en ejecución hipotecaria.
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