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Featured local agent — Salem, OR
Sarah Mitchell
Compass Real Estate · Salem, OR
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Salem, OR Housing Market & Real Estate
Housing market overview · Updated monthly ·
$456,498median sale price
How is the Salem, OR housing market right now?
The median home sale price in Salem, OR is $456,498, up 1.4% year-over-year. Homes sell in an average of 53 days with 605 active listings. The market is currently a balanced market. (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, OR is currently a balanced market, based on 4.1 months of supply and homes selling in about 53 days. How we determine this →
Homes sold
146
Last 12 weeks
Days on market
53
Average pace
Active listings
605
4.1 months supply
Sale-to-list
100.5%
Above asking
What does the Salem housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $456,498 |
| Median list price | $475,000 |
| Year-over-year price change | +1.4% |
| Average days on market | 53 days |
| Active inventory | 605 listings |
| Months of supply | 4.1 months |
| Sale-to-list price ratio | 100.5% |
| Median price per sq ft | $267/sq ft |
| Homes sold (latest month) | 146 |
| New listings (latest month) | 249 |
| Listings with a price cut | 29.3% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Salem by property type?
How the Salem, OR market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $460,000 | $270/sq ft | 138 | 53 days |
| Condo / Co-op | $301,850 | $242/sq ft | 4 | 123 days |
| Townhouse | $364,450 | $218/sq ft | 2 | 71 days |
Source: Redfin · Updated monthly
The Salem housing market is currently classified as a balanced market with a median sale price of $456,498. Prices have risen 1.4% compared to last year, with homes spending an average of 53 days on market, indicating 4.1 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 6.1x provides context for how home values compare to local earning capacity.
Homes for sale in Salem
There are currently 605 homes listed for sale in Salem, Oregon. The median listing price is $475K.
Active listings
605
Homes on market
Median list price
$475K
Avg. days on market
53
Days until sale
New this week
249
Newly listed
Who lives in Salem?
Population
176,666
Median income
$71,900/yr
Median age
35.7 years
Owner-occupied
55.7%
College grads
31.4%
Avg commute
22.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Salem?
Zillow home value
$440,407
Zillow rent index
$1,585/mo
Price-to-rent ratio
23.2x
Price-to-income
6.1x
Source: Zillow Research
What is it like to live in Salem?
Salem is a community of approximately 177K residents with a median age of 35.7 years.The median household income is $71,900, which represents a working-class community with solid middle-income opportunities. 31.4% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 55.7%, showing a blend of owner and renter-occupied properties. The average commute time is 22.4 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?
50 schools tracked · 31,646 students
The largest public schools serving Salem, OR 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.
South Salem High School
Grades 9-12 · 2,310 students
McKay High School
Grades 9-12 · 2,299 students
North Salem High School
Grades 9-12 · 2,176 students
Sprague High School
Grades 9-12 · 1,765 students
West Salem High School
Grades 9-12 · 1,666 students
Stephens Middle School
Grades 6-8 · 1,041 students
Waldo Middle School
Grades 6-8 · 1,035 students
Houck Middle School
Grades 6-8 · 873 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, OR?
Want a head-to-head view? Compare Salem side-by-side with any other U.S. city using our market-comparison tool.
Is Salem a good real estate investment market?
For investors evaluating Salem, the price-to-rent ratio of 23.2x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 1.4% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Salem's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Salem's median home price.
Frequently asked questions
What is the average home price in Salem?
The median home sale price in Salem is $456,498, up 1.4% from last year.
How long do homes stay on market in Salem?
Homes typically spend 53 days on market before going under contract.
What is the median income in Salem?
The median household income is $71,900 per year.
Is Salem a buyer's or seller's market?
With 4.1 months of supply, Salem is currently a balanced market.
What is the Zillow home value estimate for Salem?
The Zillow Home Value Index (ZHVI) for Salem is $440,407, 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, OR is $301,850, compared to $460,000 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, OR is $460,000 (about $270 per square foot).
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