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
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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $242.4K | $249.9K | +3.1% |
3 Bedrooms | $350K | $340K | -2.9% |
4 Bedrooms | $452K | $459K | +1.5% |
5+ Bedrooms | $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 | $480K | $487.4K | +1.6% |
Coventry | $403.7K | $405K | 0.3% |
Salem | $387K | $372.4K | -3.7% |
Glenwood | $473.5K | $390K | -17.6% |
Housing Supply in Salem, VA
How many homes are available in Salem, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
91 | 116 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 12 | 21 | +75.0% |
3 Bedrooms | 39 | 50 | +28.2% |
4 Bedrooms | 33 | 35 | +6.1% |
5+ Bedrooms | 7 | 10 | +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 2024 | May 2024 | CHANGE |
---|---|---|
52 Days | 47 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.