Salem, VA
Housing market overview · Updated weekly
$295,000median sale price
Homes sold
21
Last 12 weeks
Days on market
48
Average pace
Active listings
47
2.2 months supply
Sale-to-list
96.4%
Below asking
The Salem housing market is currently classified as a seller's market with a median sale price of $295,000. Prices have fallen 7.8% compared to last year, with homes spending an average of 48 days on market, indicating 2.2 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.
Market trends
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Frequently asked questions
What is the average home price in Salem?
The median home sale price in Salem is $295,000, down 7.8% from last year.
How long do homes stay on market in Salem?
Homes typically spend 48 days on market before going under contract.
Is Salem a buyer's or seller's market?
With 2.2 months of supply, Salem is currently a seller's market.
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