Salem, VA Housing Market & Real Estate
Housing market overview · Updated weekly ·
Quick answer: The median home sale price in Salem, VA is $295,000, down 7.8% year-over-year. Homes sell in an average of 48 days with 47 active listings. The market is currently a seller's market.
$295,000median sale price
Is Salem a buyer's or seller's market?
Salem, VA is currently a seller's market, based on 2.2 months of supply and homes selling in about 48 days. How we determine this →
Homes sold
21
Last 12 weeks
Days on market
48
Average pace
Active listings
47
2.2 months supply
Sale-to-list
96.4%
Below asking
Salem, VA market data
| Metric | Value |
|---|---|
| Median sale price | $295,000 |
| Median list price | $279,950 |
| Year-over-year price change | -7.8% |
| Average days on market | 48 days |
| Active inventory | 47 listings |
| Months of supply | 2.2 months |
| Sale-to-list price ratio | 96.4% |
| Market condition | Seller's market |
Source: Redfin · Updated weekly
The Salem housing market is currently classified as a seller's market with a median sale price of $295,000. Prices have fallen 7.8% compared to last year, with homes spending an average of 48 days on market, indicating 2.2 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.
Market trends
Homes for sale in Salem
There are currently 47 homes listed for sale in Salem, Virginia. The median listing price is $280K.
Active listings
47
Homes on market
Median list price
$280K
Avg. days on market
48
Days until sale
New this week
23
Newly listed
Top public schools in Salem
14 schools tracked · 5,529 students
The largest public schools serving Salem, VA 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 High
Grades 9-12 · 1,213 students
Andrew Lewis Middle
Grades 6-8 · 850 students
Glenvar High
Grades 9-12 · 621 students
G.W. Carver Elementary
Grades PK-5 · 426 students
Glenvar Middle
Grades 6-8 · 424 students
West Salem Elementary
Grades PK-5 · 407 students
South Salem Elementary
Grades PK-5 · 389 students
Glenvar Elementary
Grades PK-5 · 376 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
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Frequently asked questions
What is the average home price in Salem?
The median home sale price in Salem is $295,000, down 7.8% from last year.
How long do homes stay on market in Salem?
Homes typically spend 48 days on market before going under contract.
Is Salem a buyer's or seller's market?
With 2.2 months of supply, Salem is currently a seller's market.
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