Housing Prices in Salem, VA

How much do homes in Salem, VA cost?

Median List Price

$372,497

$219/sqft

Based on all homes listed in May 2024.

Difference Since Last Month

-$14,502(-3.7%)

Key Takeaway

The list price of homes in Salem has decreased by 3.7% since April.

Summary: The median home list price in Salem was $372,497 in May 2024, down 3.7% from the previous month, and the median price per square foot was $219.

Median List Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 $242.4K$249.9K
+3.1%
3 $350K$340K
-2.9%
4 $452K$459K
+1.5%
5+ $525K$576.5K
+9.8%

Summary: Salem housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.1%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 9.8%.

Median List Price Compared To Nearby Neighborhoods

Glenwood Seasons
+1.6%
Coventry
0.3%
Salem
-3.7%
Glenwood
-17.6%

Housing Supply in Salem, VA

How many homes are available in Salem, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
91116+27.5%

Summary: The Salem real estate market had 116 homes for sale in May 2024, a 27.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1221
+75.0%
3 3950
+28.2%
4 3335
+6.1%
5+ 710
+42.9%

Summary: The Salem housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 75%, 3 bedroom homes increased by 28.2%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 42.9%.

Days on Market for Salem, VA

How long does it take to sell a home in Salem, VA?

Average Listing Age

Apr 2024May 2024CHANGE
52 Days47 Days-9.5%

Summary: Homes in Salem had an average listing age of 47 days in May 2024, down by 9.5% compared to the previous month.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Salem, VA

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