Housing Prices in Salem, VA

How much do homes in Salem, VA cost?

Median List Price

$380,000

$219/sqft

Based on all homes listed in October 2024.

Difference Since Last Month

+$9,500(+2.6%)

Key Takeaway

The list price of homes in Salem has increased by 2.6% since September.

Summary: The median home list price in Salem was $380,000 in October 2024, up 2.6% from the previous month, and the median price per square foot was $219.

Median List Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $250K$250K
0.0%
3 $346K$345K
-0.3%
4 $476.8K$475.9K
-0.2%
5+ $549K$549K
0.0%

Summary: Salem housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 0.3%, 4 bedroom homes decreased by 0.2%, and 5+ bedroom homes did not change.

Median List Price Compared To Nearby Neighborhoods

Glenwood Seasons
+5.8%
Glenwood Greens
+4.6%
Salem
+2.6%
Coventry
+1.7%
Glenwood
-4.0%

Housing Supply in Salem, VA

How many homes are available in Salem, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
114128+12.3%

Summary: The Salem real estate market had 128 homes for sale in October 2024, a 12.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 2827
-3.6%
3 3846
+21.1%
4 3738
+2.7%
5+ 1117
+54.5%

Summary: The Salem housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 3.6%, 3 bedroom homes increased by 21.1%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 54.5%.

Days on Market for Salem, VA

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

Average Listing Age

Sep 2024Oct 2024CHANGE
50 Days52 Days+4.8%

Summary: Homes in Salem had an average listing age of 52 days in Oct 2024, up by 4.8% compared to the previous month.

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

Report Updated 16 Days Ago

Newest Listings in Salem, VA

Nearby Markets to Salem, VA