First American Market Report
Salem, OR
Single-Family Homes
First American Title Company | www.firstam.com
Salem, OR
Mon Dec 30 2024
This week the median list price for Salem, OR is $518,197 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 448.
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
| Median List Price | $518,197 | |
| Median Price of New Listings | $412,450 | |
| Per Square Foot | $271 | |
| Average Days on Market | 108 | |
| Median Days on Market | 77 | |
| Price Decreased | 44% | |
| Price Increased | 4% | |
| Relisted | 16% | |
| Inventory | 448 | |
| 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 |
|---|---|---|---|---|---|---|---|---|
| $844,450 | 2,956 | 0.5 - 1 acre | 4 | 3 | 25 | 3 | 8 | 98 |
| $579,950 | 2,312 | 6,500 - 8,000 sqft | 4 | 2.5 | 22 | 2 | 9 | 98 |
| $458,250 | 1,709 | 6,500 - 8,000 sqft | 3 | 2 | 35 | 6 | 9 | 63 |
| $367,000 | 1,252 | 4,500 - 6,500 sqft | 3 | 1.5 | 63 | 21 | 22 | 70 |