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Featured local agent — Salem, NC
Sarah Mitchell
Compass Real Estate · Salem, NC
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Salem, NC Housing Market
The last median sale price Redfin published was $251,000 (through May 2026). With 12.0 months of supply and homes going under contract in about 95 days, Salem is a buyer's market. At today's 7.03% 30-year fixed rate, 20% down on a $251,000 home is about $1,340/mo in principal and interest.
Key numbers for Salem, NC
Median sale price
$251,000
Last published period
Redfin, through May 2026
Days on market
95
Slow-moving
Redfin, through May 2026
Active listings
12
12.0 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$66,653
Home costs 3.8x income
U.S. Census ACS, 2023
Sale-to-list ratio
98.5%
Selling below asking
Redfin, through May 2026
Zillow figures refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Salem a buyer's or seller's market?
Salem, NC is a buyer's market, based on 12.0 months of supply and homes selling in about 95 days. Above 7 months of supply is a glut: inventory is well ahead of the sales pace, and buyers can take time to inspect, compare, and negotiate concessions.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Salem housing market data show?
Every row below is Redfin's final published month for Salem, NC. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $251,000 |
| Median list price | $399,900 |
| Median price per sq ft | $189/sq ft |
| Median days on market | 95 days |
| Active inventory | 12 listings |
| Months of supply | 12.0 months |
| Sale-to-list price ratio | 98.5% |
| Homes sold (that month) | 1 |
| New listings (that month) | 3 |
| Listings with a price cut | 25.0% |
| Market condition | Buyer's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Salem is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Salem is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Salem home prices moved?
Over the last three years the median sale price in Salem, NC rose 21.3%, from $207,000 to $251,000. 25.0% of Salem listings cut their asking price in the final Redfin month — a modest share, which is what a market looks like when sellers are pricing close to where homes actually clear. For prices to fall meaningfully from here, supply would have to keep building past 12.0 months while the sale-to-list ratio slips below its current 98.5%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Salem?
Priced off the median sale price of $251,000 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $50,200 | $200,800 | $1,340/mo |
| 5% | $12,550 | $238,450 | $1,591/mo |
Redfin, through May 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $1,340, that implies roughly $57,428 a year before you add taxes and insurance. The median household in Salem earns $66,653, about $9,225 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 3.8x — above the historical 3x norm but in line with much of the country in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Salem in the next 12 months?
Tell us your timeline. We send the Salem market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Salem?
Zillow does not publish a rent index (ZORI) for Salem, NC, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Salem?
Active listings in Salem, NC went from 7 in September 2024 to 12 in May 2026, a +71.4% change. Rising inventory is the single most useful leading indicator for buyers: more choice, longer marketing times, and more sellers willing to negotiate before price cuts show up in the median.
| Month | Active listings | New listings |
|---|---|---|
| October 2024 | 7 | 3 |
| November 2024 | 8 | 3 |
| December 2024 | 8 | 3 |
| January 2025 | 7 | 1 |
| March 2025 | 6 | 3 |
| April 2025 | 6 | not published |
| June 2025 | 5 | 2 |
| September 2025 | 8 | 4 |
| October 2025 | 9 | 3 |
| November 2025 | 8 | 2 |
| January 2026 | 8 | 3 |
| May 2026 | 12 | 3 |
Redfin, through May 2026
How does Salem compare to North Carolina and the U.S.?
Salem homes sell for $251,000 — 37% below the North Carolina median of $397,600. Against the national median of $410,700, Salem runs 39% lower.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Salem, NC | $251,000 | not published | 95 days |
| North Carolina statewide | $397,600 | +2.1% | 52 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Salem
What buyers should watch
- Months of supply, currently 12.0. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 25.0%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $251 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $251,000 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Salem listing goes under contract in 95 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 98.5% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Salem added 3 new listings against 1 sales — more competition arriving than clearing, so early timing matters.
- Comparable ZIP-level pricing inside Salem varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Salem
There are currently 12 homes listed for sale in Salem, North Carolina. The median listing price is $400K.
Active listings
12
Homes on market
Median list price
$400K
Avg. days on market
95
Days until sale
New this week
3
Newly listed
How much do homes cost in Salem by property type?
How the Salem, NC market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $251,000 | $189/sq ft | 1 | 95 days |
Who lives in Salem?
American Community Survey estimates for Salem. U.S. Census ACS, 2023
Population
2,035
Households
919
Median income
$66,653/yr
Median age
42.8 years
Owner-occupied
74.2%
Median home value
$159,300
Median gross rent
$772/mo
Mean commute
19.3 min
74.2% of occupied homes in Salem are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market.
Which cities are near Salem, NC?
Ordered by distance from Salem, not by size. Compare Salem side by side with any of them.
Salem housing market FAQ
Is Salem a buyer's or seller's market?
Salem, NC is currently a buyer's market. That read comes from 12.0 months of supply, homes going under contract in about 95 days, and sellers getting 98.5% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Salem?
The median sale price in the last month Redfin published was $251,000, about $189 per square foot.
Is Salem cheaper than the rest of North Carolina?
Salem's median sale price of $251,000 is 37% lower than the North Carolina statewide median of $397,600, and 39% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Salem?
Homes in Salem, NC spent a median of 95 days on market before going under contract, versus 52 days statewide. Over two months means buyers have time to inspect, compare and negotiate. (Redfin, through May 2026.)
What income do you need to buy a home in Salem?
At the current 30-year fixed rate of 7.03%, 20% down on a $251,000 home is about $1,340 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $57,428 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $66,653.
Are home prices rising in Salem?
We do not hold a complete 12-month value series for Salem, NC yet, so we are not going to call a direction. The price chart above shows every period we do have.
What are the cheapest ZIP codes in Salem?
Salem ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Salem?
That depends on your timeline, not on a headline. What the data says today: Salem, NC is a buyer's market with 12.0 months of supply, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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One email: what homes are actually clearing at around $251,000, how long they sit, which ZIPs run cheaper, and what to fix on your credit before you apply.