Housing Prices in Salem, VA

How much do homes in Salem, VA cost?

Median List Price

$375,000

$210/sqft

Based on all homes listed in February 2024.

Difference Since Last Month

+$5,002(+1.4%)

Key Takeaway

The list price of homes in Salem has increased by 1.4% since January.

Summary: The median home list price in Salem was $375,000 in February 2024, up 1.4% from the previous month, and the median price per square foot was $210.

Median List Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 $235K$221.3K
-5.8%
3 $327.5K$337.5K
+3.1%
4 $447.5K$440K
-1.7%
5+ $565K$575K
+1.8%

Summary: Salem housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.8%, 3 bedroom homes increased by 3.1%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes increased by 1.8%.

Median List Price Compared To Nearby Neighborhoods

Coventry
+3.5%
Glenwood
+2.5%
Salem
+1.4%
Glenwood Seasons
0.0%

Housing Supply in Salem, VA

How many homes are available in Salem, VA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
8088+10.0%

Summary: The Salem real estate market had 88 homes for sale in February 2024, a 10.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1112
+9.1%
3 3032
+6.7%
4 3441
+20.6%
5+ 53
-40.0%

Summary: The Salem housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 20.6%, and 5+ bedroom homes decreased by 40%.

Days on Market for Salem, VA

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

Average Listing Age

Jan 2024Feb 2024CHANGE
67 Days67 Days+1.0%

Summary: Homes in Salem had an average listing age of 67 days in Feb 2024, up by 1% compared to the previous month.

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

Report Updated 28 Days Ago

Newest Listings in Salem, VA

Nearby Markets to Salem, VA