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Salem Market Report

$406,240

AVERAGE PRICE OF 120 HOMES

$162,000

AVERAGE PRICE OF 1 DISTRESSED HOMES

$1,548,317

AVERAGE PRICE OF 3 MULTI-MILLION DOLLAR HOMES

$430,877

AVERAGE PRICE OF 41 NEWLY BUILT HOMES

$431,989

AVERAGE PRICE OF 9 HOMES WITH A POOL

$344,316

AVERAGE PRICE OF 3 REDUCED PRICE HOMES

Average Home

Average Price $406,240
Avg Bedrooms 3.43 beds
Avg Bathrooms 2.14 baths

Average Price by Bedrooms

1 bedroom $300,000
2 bedrooms $263,682
3 bedrooms $346,182
4 bedrooms $442,605
5 bedrooms $603,033
Salem Home Price Trends
  1/2025 12/2024 11/2024 10/2024 9/2024
Total Listings 114 120 149 154 156
Average Price $409,569 $407,856 $398,229 $392,100 $409,298
Avg Price Change +0.42% +2.42% +1.56% -4.39% -3.55%
Median Price $384,889 $384,586 $378,841 $375,492 $384,669
Med Price Change +0.08% +1.52% +0.89% -2.44% -3.45%
Avg Bedrooms 3.49 beds 3.55 beds 3.53 beds 3.53 beds 3.55 beds
Avg Bathrooms 2.18 baths 2.2 baths 2.24 baths 2.27 baths 2.35 baths
Home Price by High School
School Name Total Homes Average Price Avg Days on Site
Salem High 63 $368,941 123 days
Home Price by House Size
Total Homes Average Price Avg Days on Site
All Homes 120 $406,240 100 days
Distressed Homes 1 $162,000 63 days
Multi-Million Dollar Homes 3 $1,548,317 105 days
Newly Built Homes 41 $430,877 170 days
Homes with a Pool 9 $431,989 118 days
Reduced Price Homes 3 $344,316 42 days
Wainwright & Co. - Realtors
1202 Electric Road Ste A
Salem, VA 24153
540-819-7388
Licensed in Virginia

Last updated; multiple times February 6, 2025. Information is deemed to be reliable, but is not guaranteed. Roanoke Valley Association of Realtors© 2025 MLS and FBS. Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this website does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed daily, but its accuracy is subject to market changes. All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this website may only use this listing data for their personal, non-commercial benefit. The unauthorized retrieval or use of this listing data is prohibited. The information on this sheet has been made available by the MLS and may not be the listing of the provider.
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