$309,000
1,575 SqFt
3 Beds
•2 Full Baths
Listing Office: MKB, REALTORS(r)
September 2024
Report Updated 29 Days Ago
Is Salem, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Salem has remained a Seller's Market.
How much do homes in Salem, VA cost?
$342,200
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
Summary: The median home sold price in Salem was $342,200 in September 2024, up 14.1% from last year, and the median price per square foot was $178.
# BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140K | $175K | +25.0% |
2 Bedrooms | $187.5K | $207.4K | +10.7% |
3 Bedrooms | $275.8K | $299K | +8.4% |
4 Bedrooms | $380K | $419.2K | +10.3% |
5+ Bedrooms | $510K | $537.7K | +5.4% |
Summary: Salem housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 5.4%.
Salem | $300K | $342.2K | +14.1% |
West Fairfax | $380K | $420K | +10.5% |
How many homes are available in Salem, VA?
Aug 2024 | Sep 2024 | CHANGE |
---|---|---|
210 | 227 | +8.1% |
Summary: The Salem real estate market had 227 homes for sale in September 2024, a 8.1% increase compared to August 2024.
# BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 18 | 19 | +5.6% |
3 Bedrooms | 86 | 94 | +9.3% |
4 Bedrooms | 89 | 91 | +2.2% |
5+ Bedrooms | 16 | 23 | +43.8% |
Summary: The Salem housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 43.8%.
Aug 2024 | Sep 2024 | CHANGE |
---|---|---|
50 | 43 | -14.0% |
20 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 43 homes were sold or pending in Salem in September 2024, down by 14.0% month-over-month. Of the 43 sold homes, 47% were sold under asking, 26% were sold at asking, and 28% were sold over asking.
How long does it take to sell a home in Salem, VA?
Sep 2023 | Sep 2024 | CHANGE |
---|---|---|
29 Days | 47 Days | +60.4% |
Summary: Homes in Salem had an average of 47 days on market in Sep 2024, up by 60.4% compared to last year.
5 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During September 2024, 43 homes were sold in Salem; 12% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.
Report Updated 29 Days Ago
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MLS Disclaimers and Copyright
Based on information from Roanoke Valley Association of Realtors MLS, BrightMLS, Charlottesville Area Association of Realtors MLS, and Lynchburg MLS for the period 10/01/2022 - 10/01/2024
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.
All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this web site may only use this listing data for their personal, non-commercial benefit. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The unauthorized retrieval or use of this listing data is prohibited.
All information is deemed reliable but not guaranteed, and should be independently verified. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 10/30/2024, 3:20:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.
The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.
BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2024 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 10/30/2024, 3:20:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user.
Copyright © 2024 Charlottesville Area Association of Realtors®. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 10/30/2024, 3:20:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Information is provided by the Lynchburg Association of REALTORS®. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2024 Lynchburg Association of REALTORS®. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 10/30/2024, 3:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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