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Salem Housing Market Report June 2025•Marion County, Illinois

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Housing Prices in Salem, IL

How much do homes in Salem, IL cost?

Housing Market Conditions

Is Salem, IL a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Salem is a Seller's Market

Difference Since June 2024

Since last year, Salem has remained a Seller's Market.

Insight

Salem is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$150,000$103/SqFt
+$22,500
+17.6%

Based on all homes sold in the last 12 months

Insight

Homes in Salem have sold for 17.6% more than they did a year ago.

Summary: The median home sold price in Salem was $150,000 in June 2025, up 17.6% from last year, and the median price per square foot was $103.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Salem
+17.6%
Salem Township
+16.7%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJun 2024Jun 2025Change YoY
1$73.7K$178.5K
+142.0%
2$78.2K$72K
-7.9%
3$148K$169K
+14.2%
4$190K$214K
+12.6%
5$160.7K$233K
+44.9%

Summary: Salem housing price by bedroom type for June 2025, compared to the previous year. The home price for 1 bedroom homes increased by +142.0%. The home price for 2 bedroom homes decreased by -7.9%. The home price for 3 bedroom homes increased by +14.2%. The home price for 4 bedroom homes increased by +12.6%. The home price for 5 bedroom homes increased by +44.9%.

How does Salem, IL compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Salem, IL

Housing supply in Salem, IL

How many homes are available in Salem, IL?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
49Last MonthJun 2025
492 months agoMay 2025
0.0 %
Change MoMMay – Jun

Summary: The Salem real estate market had 49 homes for sale in Jun 2025, the same as May 2025

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
9Last MonthJun 2025
122 months agoMay 2025
-25.0 %
Change MoMMay – Jun

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsMay 2025Jun 2025Change MoM
122
0.0%
279
+28.6%
32921
-27.6%
449
+125.0%
578
+14.3%

Summary: Salem housing inventory by bedroom type for June 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +28.6%. The inventory for 3 bedroom homes decreased by -27.6%. The inventory for 4 bedroom homes increased by +125.0%. The inventory for 5 bedroom homes increased by +14.3%.

Asking Price vs. Sold Price

How much do homes in Salem, IL cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price4 Homes

At Asking Price2 Homes

Under Asking Price3 Homes

Insight

If you're buying a home in Salem, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in Salem in June 2025, down by 25.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 22% were sold at asking, and and 44% were sold over asking.

Days on Market for Salem, IL

How long does it take to sell a home in Salem, IL?

Breakdown of Home Sale Times

Under 30 Days8 Homes

30 – 90 Days1 Home

Over 90 Days0 Home

Insight

Many homes in Salem are selling fast, if you're buying plan to act quickly.

Summary: During June 2025, 9 homes were sold in Salem; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
11 DaysThis YearJun 2025
16 Days1 year agoJun 2024
-28.7 %
Change YoYJun 2024 – Jun 2025

Summary: Homes in Salem had an average listing age of 11 days in Jun 2025, down by 28.7% compared to the previous year.

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Newest Listings in Salem, IL

What homes are available in Salem, IL?

See More Listings

Nearby markets

Popular Cities with Homes for Sale in Illinois

MLS Disclaimers and Copyright

Based on information from RMLS Alliance, and Mid America Regional Information System for the period 07/01/2023 - 07/01/2025

IDX Listings courtesy of RMLS Alliance as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.

DMCA Notice

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange program of RMLS Alliance®. Real estate listings held by brokerage firms other than this broker are marked with the RMLSA logo and detailed information about them includes the name of the listing brokers. The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but is not guaranteed and should be independently verified through personal inspection and/or with the appropriate professionals. Copyright © 2025 Peoria Area Association of REALTORS®.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/28/2025, 6:35:31 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.

DMCA Notice

IDX Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX information is provided exclusively for consumers personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.

Listings courtesy of MARIS MLS as distributed by MLS GRID. Copyright © 2025 Mid America Regional Information System (MARIS). All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/28/2025, 6:38:27 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.