First American Market Report

Salem, OR

Single-Family Homes

First American Title Company | www.firstam.com



Salem, OR

Tue Oct 15 2024
This week the median list price for Salem, OR is $529,900 with the market action index hovering around 38. This is about the same as last month's market action index of 38. Inventory has decreased to 577. Click here to stay informed with the Salem market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market Narrative

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Salem, OR

Tue Oct 15 2024
This week the median list price for Salem, OR is $529,900 with the market action index hovering around 38. This is about the same as last month's market action index of 38. Inventory has decreased to 577. Click here to stay informed with the Salem market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market Narrative

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Salem market.
Median List Price $529,900
Median Price of New Listings $455,000
Per Square Foot $273
Average Days on Market 89
Median Days on Market 56
Price Decreased 46%
Price Increased 3%
Relisted 18%
Inventory 577
Median Rent
Market Action 38
Slight Seller's Advantage

The market appears to be hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$839,500 2,951 0.5 - 1 acre 4 3 30 17 8 84
$599,000 2,311 6,500 - 8,000 sqft 4 2.5 21 8 13 70
$479,950 1,810 6,500 - 8,000 sqft 3 2 28 19 27 49
$379,000 1,280 4,500 - 6,500 sqft 3 2 60 30 34 28