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Featured local agent — Salem, IL
Sarah Mitchell
Compass Real Estate · Salem, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Salem, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$80,000median sale price
How is the Salem, IL housing market right now?
The median home sale price in Salem, IL is $80,000, down 46.7% year-over-year. Homes sell in an average of 120 days with 20 active listings. The market is currently a leaning buyer's. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Salem a buyer's or seller's market?
Salem, IL is currently a leaning buyer's, based on 4.0 months of supply and homes selling in about 120 days. How we determine this →
Homes sold
5
Last 12 weeks
Days on market
120
Average pace
Active listings
20
4.0 months supply
Sale-to-list
96.3%
Below asking
What does the Salem housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $80,000 |
| Median list price | $147,750 |
| Year-over-year price change | -46.7% |
| Average days on market | 120 days |
| Active inventory | 20 listings |
| Months of supply | 4.0 months |
| Sale-to-list price ratio | 96.3% |
| Median price per sq ft | $86/sq ft |
| Homes sold (latest month) | 5 |
| New listings (latest month) | 12 |
| Listings with a price cut | 50.0% |
| Market condition | Leaning buyer's |
Source: Redfin · Updated monthly
How much do homes cost in Salem by property type?
How the Salem, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $80,000 | $86/sq ft | 5 | 120 days |
| Condo / Co-op | $123,000 | $93/sq ft | 1 | 3 days |
Source: Redfin · Updated monthly
The Salem housing market is currently classified as a leaning buyer's with a median sale price of $80,000. Prices have fallen 46.7% compared to last year, with homes spending an average of 120 days on market, indicating 4.0 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 2.6x provides context for how home values compare to local earning capacity.
Homes for sale in Salem
There are currently 20 homes listed for sale in Salem, Illinois. The median listing price is $148K.
Active listings
20
Homes on market
Median list price
$148K
Avg. days on market
120
Days until sale
New this week
12
Newly listed
Who lives in Salem?
Population
7,341
Median income
$57,083/yr
Median age
38.2 years
Owner-occupied
62.8%
College grads
14.8%
Avg commute
12.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Salem?
Zillow home value
$147,168
Price-to-income
2.6x
Source: Zillow Research
What is it like to live in Salem?
Salem is a community of approximately 7K residents with a median age of 38.2 years.The median household income is $57,083, which represents a working-class community with solid middle-income opportunities. 14.8% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 62.8%, showing a blend of owner and renter-occupied properties. The average commute time is 12.4 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Salem offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Salem?
4 schools tracked · 1,882 students
The largest public schools serving Salem, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Salem Community High School
Grades 9-12 · 714 students
Franklin Park Middle School
Grades 4-8 · 559 students
Hawthorn Elem School
Grades K-3 · 378 students
Selmaville Elem School
Grades PK-8 · 231 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Salem, IL?
Want a head-to-head view? Compare Salem side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Salem?
The median home sale price in Salem is $80,000, down 46.7% from last year.
How long do homes stay on market in Salem?
Homes typically spend 120 days on market before going under contract.
What is the median income in Salem?
The median household income is $57,083 per year.
Is Salem a buyer's or seller's market?
With 4.0 months of supply, Salem is currently a leaning buyer's.
What is the Zillow home value estimate for Salem?
The Zillow Home Value Index (ZHVI) for Salem is $147,168, representing the typical home value in the area.
What is the median condo price in Salem?
The median condo/co-op sale price in Salem, IL is $123,000, compared to $80,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Salem?
The median single-family home price in Salem, IL is $80,000 (about $86 per square foot).
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