Salem - OR housing market

The typical home value ($455,386) is the Zillow Home Value Index for the Salem - OR metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.

Prices are up 0.5% over the past year. In Salem - OR, that means a home worth $453,120 last year is now worth roughly $455,386.

The median sale price, what homes actually close for, is $447,103. Homes are selling at 99.2% of list price, meaning buyers have room to negotiate.

Homes listed in Salem - OR sit on the market for roughly 23 days before going pending. Shorter = seller's market; longer = buyer's market.

About 30.2% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.

Roughly 501 new listings hit the market each month in Salem - OR. There are currently 1,597 homes for sale, up 15.2% from a year ago.

The typical monthly rent in Salem - OR is $1,623, up 0.2% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 23.4x, renting territory (#26 of 195 metros). The mortgage on a typical home here, 20% down at today's 6.66% 30-year rate, runs about $2,341 a month in principal and interest, $718 more than renting before taxes, insurance and upkeep. The two break even at a 3.44% rate.

What's not on this page

This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.

Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt September 2026. Methodology →