The Salem housing market is very competitive. The median sale price of a home in Salem was $250K last month, down 2.0% since last year. The median sale price per square foot in Salem is $144, up 12.5% since last year.
In October 2024, Salem home prices were down 2.0% compared to last year, selling for a median price of $250K. On average, homes in Salem sell after 10 days on the market compared to 15 days last year. There were 21 homes sold in October this year, up from 17 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$249,950
-2.0% YoY | Oct 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Oct 2024
Growth
% YoY
Salem, VA
$249,950
-2.0%
United States
To compare other locations to the Salem and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Salem add value to a home.
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How hot is the Salem housing market?
Salem is very competitive. Homes sell in 11 days.
0
100
82
Very Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Many homes get multiple offers, some with waived contingencies.
The average homes sell for about 1% below list price and go pending in around 11 days.
Hot homes
can sell for around list price and go pending in around 4 days.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Salem housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Salem.
Flood Factor - Moderate
21% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Salem has a moderate risk of flooding. 1,695 properties in Salem are likely to be
severely affected
by flooding over the next 30 years. This represents 21% of all properties in Salem. Flood risk is increasing slower than the national average.
68% of properties are at risk of wildfire over the next 30 years
Fire Factor
Salem has a moderate risk of wildfire. There are 7,306 properties in Salem that have some risk of being affected by wildfire over the next 30 years. This represents 68% of all properties in Salem.
100% of properties are at minor
risk of a severe wind event over the next 30 years
Wind Factor
Salem has a Minor Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Salem is most at risk from hurricanes. 10,675 properties in Salem have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 49 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 56 mph.