1 hour on Rocket
$8,311 Closing Credit¹
#73344851, Janice Kostopoulos, Listing Office: Coldwell Banker Realty - Marblehead
Salem Housing Market Report February 2025•Essex County, Massachusetts
Housing Prices in Salem, MA
How much do homes in Salem, MA cost?
Housing Market Conditions
Is Salem, MA a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Salem is a Seller's Market
Difference Since February 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
$599,159$394/SqFt
+$49,189
+8.9%
Based on all homes sold in the last 12 months
Insight
Homes in Salem have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in Salem was $599,159 in February 2025, up 8.9% from last year, and the median price per square foot was $394.
Median Sold Price By Cities
| City | Feb 2024 | Feb 2025 | Change YoY |
|---|---|---|---|
| Swampscott | $685K | $750.5K | +9.6% |
| Marblehead | $895K | $975K | +8.9% |
| Salem | $549.9K | $599.1K | +8.9% |
| Peabody | $602.6K | $651.3K | +8.1% |
| Beverly | $680K | $700K | +2.9% |
Median Sold Price By Bedrooms
| Beds | Feb 2024 | Feb 2025 | Change YoY |
|---|---|---|---|
| 11 Bedroom | $345K | $370K | +7.2% |
| 22 Bedrooms | $495K | $520K | +5.1% |
| 33 Bedrooms | $600K | $625K | +4.2% |
| 44 Bedrooms | $689K | $772K | +12.0% |
| 55+ Bedrooms | $860K | $990K | +15.1% |
Summary: Salem housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes increased by +7.2%. The home price for 2 bedroom homes increased by +5.1%. The home price for 3 bedroom homes increased by +4.2%. The home price for 4 bedroom homes increased by +12.0%. The home price for 5 bedroom homes increased by +15.1%.
How does Salem, MA compare with other places?
Market comparison tool
Data and numbers shown are subject to change and may vary based on different timeframes.
Salem, MA
Housing supply in Salem, MA
How many homes are available in Salem, MA?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 69Last MonthFeb 2025 | ||
| 822 months agoJan 2025 | -15.9 % Change MoMJan – Feb |
Summary: The Salem real estate market had 69 homes for sale in Feb 2025, a 15.9 % decrease compared to Jan 2025.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 14Last MonthFeb 2025 | ||
| 332 months agoJan 2025 | -57.6 % Change MoMJan – Feb |
Homes For Sale By Bedroom Count
| Beds | Jan 2025 | Feb 2025 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 9 | 5 | -44.4% |
| 22 Bedrooms | 27 | 26 | -3.7% |
| 33 Bedrooms | 28 | 24 | -14.3% |
| 44 Bedrooms | 7 | 9 | +28.6% |
| 55+ Bedrooms | 11 | 5 | -54.5% |
Summary: Salem housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes decreased by -44.4%. The inventory for 2 bedroom homes decreased by -3.7%. The inventory for 3 bedroom homes decreased by -14.3%. The inventory for 4 bedroom homes increased by +28.6%. The inventory for 5 bedroom homes decreased by -54.5%.
Asking Price vs. Sold Price
How much do homes in Salem, MA cost?
Over Asking Price9 Homes
At Asking Price1 Home
Under Asking Price4 Homes
Insight
If you're buying a home in Salem, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Salem in February 2025, down by 57.6% month-over-month. Of the 14 sold homes, 29% were sold under asking, 7% were sold at asking, and and 64% were sold over asking.
Days on Market for Salem, MA
How long does it take to sell a home in Salem, MA?
Breakdown of Home Sale Times
Under 30 Days9 Homes
30 – 90 Days5 Homes
Over 90 Days0 Home
Insight
Many homes in Salem are selling fast, if you're buying plan to act quickly.
Summary: During February 2025, 14 homes were sold in Salem; 64% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Average Sale Time
| This Year | 1 year ago | Change YoY |
|---|---|---|
| 28 DaysThis YearFeb 2025 | ||
| 32 Days1 year agoFeb 2024 | -12.2 % Change YoYFeb 2024 – Feb 2025 |
Summary: Homes in Salem had an average listing age of 28 days in Feb 2025, down by 12.2% compared to the previous year.
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Newest Listings in Salem, MA
What homes are available in Salem, MA?
8 hours on Rocket
$3,858 Closing Credit¹
#73344610, Shannon Barror, Listing Office: Keller Williams Realty Evolution
8 hours on Rocket
$7,719 Closing Credit¹
#73344611, Team Curtin - Tim and Jody, Listing Office: Leading Edge Real Estate
10 hours on Rocket
$6,519 Closing Credit¹
#73344488, Hope Addorisio, Listing Office: Lamacchia Realty, Inc.
11 hours on Rocket
$5,936 Closing Credit¹
#73344437, Armstrong Field Team, Listing Office: Aluxety
12 hours on Rocket
$10,000 Closing Credit¹
#73344342, Michelle Delossantos, Listing Office: eXp Realty
13 hours on Rocket
$4,571 Closing Credit¹
#73344278, Gregory Hilliard, Listing Office: Four Points Real Estate, LLC
1 day on Rocket
$4,749 Closing Credit¹
#73344039, Alissa Christie, Listing Office: RE/MAX Bentley's
1 day on Rocket
$8,786 Closing Credit¹
#73343717, Catherine St. Pierre, Listing Office: Aluxety
2 days on Rocket
$5,344 Closing Credit¹
#73343563, Piantidosi Group, Listing Office: Coldwell Banker Realty - Andovers/Readings Regional
3 days on Rocket
$8,906 Closing Credit¹
#73343166, Kevin McCafferty, Listing Office: RyVal Homes
6 days on Rocket
$10,000 Closing Credit¹
#73342170, Merry Fox Team, Listing Office: MerryFox Realty
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MLS Disclaimers and Copyright
Based on information from MLS Property Information Network Inc., for the period 03/01/2023 - 03/01/2025
Disclaimer: The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. We may make use of information provided by users of this website - see our Terms of Use for more details on our privacy policy.Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/12/2025, 11:20:48 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.