$5,641 Closing Credit*
$475,000
1,968 SqFt
3 Beds
•2 Full Baths
Brian Bemis, Listing Office: RE/MAX Integrity
Is West Salem, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, West Salem was a Seller's Market.
Key Takeaway
West Salem is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in West Salem, OR
How much do homes in West Salem, OR cost?
Median Sold Price
$466,500
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$13,500(-2.8%)
Key Takeaway
Homes in West Salem have sold for 2.8% less than they did a year ago.
Summary: The median home sold price in West Salem was $466,500 in November 2024, down 2.8% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $475K | - | N/A |
| 2 Bedrooms | $330K | $366.5K | +11.1% |
| 3 Bedrooms | $450K | $440K | -2.2% |
| 4 Bedrooms | $556.2K | $567.5K | +2.0% |
| 5+ Bedrooms | $635K | $654.9K | +3.1% |
Summary: West Salem housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 3.1%.
Housing Supply in West Salem, OR
How many homes are available in West Salem, OR?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 47 | 39 | -17.0% |
Summary: The West Salem real estate market had 39 homes for sale in November 2024, a 17.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 5 | -37.5% |
| 3 Bedrooms | 17 | 15 | -11.8% |
| 4 Bedrooms | 20 | 18 | -10.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The West Salem housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 37.5%, 3 bedroom homes decreased by 11.8%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 6 | -40.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in West Salem, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in West Salem in November 2024, down by 40.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 50% were sold at asking, and 17% were sold over asking.
Days on Market for West Salem, OR
How long does it take to sell a home in West Salem, OR?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 45 Days | 52 Days | +16.3% |
Summary: Homes in West Salem had an average of 52 days on market in Nov 2024, up by 16.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in West Salem has remained consistent over time.
Summary: During November 2024, 6 homes were sold in West Salem; 17% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland, Oregon. Real estate listings held by another brokerage firm are marked with the RMLS logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2024 Regional Multiple Listing Service, Inc. (RMLS™) Portland, Oregon.