Salem Housing Market Report March 2025•Marion County, Oregon

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Housing Prices in Salem, OR

How much do homes in Salem, OR cost?

Housing Market Conditions

Is Salem, OR 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 March 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.
$438,166$262/SqFt
+$3,172
+0.7%

Based on all homes sold in the last 12 months

Insight

Homes in Salem have sold for 0.7% more than they did a year ago.

Summary: The median home sold price in Salem was $438,166 in March 2025, up 0.7% from last year, and the median price per square foot was $262.

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
Keizer
+1.2%
Salem
+0.8%
Salem
+0.7%

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.
BedsMar 2024Mar 2025Change YoY
1$298.5K$311.5K
+4.4%
2$332.7K$323.5K
-2.8%
3$418.4K$426.8K
+2.0%
4$475K$487.2K
+2.6%
5$619.9K$567.7K
-8.4%

Summary: Salem housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes increased by +4.4%. The home price for 2 bedroom homes decreased by -2.8%. The home price for 3 bedroom homes increased by +2.0%. The home price for 4 bedroom homes increased by +2.6%. The home price for 5 bedroom homes decreased by -8.4%.

How does Salem, OR compare with other places?

Market comparison tool

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

Salem, OR

Housing supply in Salem, OR

How many homes are available in Salem, OR?

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
309Last MonthMar 2025
2942 months agoFeb 2025
+5.1 %
Change MoMFeb – Mar

Summary: The Salem real estate market had 309 homes for sale in Mar 2025, a 5.1 % increase compared to Feb 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
77Last MonthMar 2025
662 months agoFeb 2025
+16.7 %
Change MoMFeb – Mar

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.
BedsFeb 2025Mar 2025Change MoM
22227
+22.7%
3167155
-7.2%
169
+50.0%
46784
+25.4%
53234
+6.3%

Summary: Salem housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 2 bedroom homes increased by +22.7%. The inventory for 3 bedroom homes decreased by -7.2%. The inventory for 1 bedroom homes increased by +50.0%. The inventory for 4 bedroom homes increased by +25.4%. The inventory for 5 bedroom homes increased by +6.3%.

Asking Price vs. Sold Price

How much do homes in Salem, OR 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 Price30 Homes

At Asking Price27 Homes

Under Asking Price20 Homes

Insight

If you're buying a home in Salem, you could pay more than the asking price. 39% of homes here sold above asking price last month.

Summary: A total of 77 homes were sold or pending in Salem in March 2025, up by 16.7% month-over-month. Of the 77 sold homes, 26% were sold under asking, 35% were sold at asking, and and 39% were sold over asking.

Days on Market for Salem, OR

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

Breakdown of Home Sale Times

Under 30 Days44 Homes

30 – 90 Days20 Homes

Over 90 Days13 Homes

Insight

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

Summary: During March 2025, 77 homes were sold in Salem; 57% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 17% 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
44 DaysThis YearMar 2025
45 Days1 year agoMar 2024
-1.6 %
Change YoYMar 2024 – Mar 2025

Summary: Homes in Salem had an average listing age of 44 days in Mar 2025, down by 1.6% compared to the previous year.

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Newest Listings in Salem, OR

What homes are available in Salem, OR?

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MLS Disclaimers and Copyright

Based on information from Regional Multiple Listing Service, and Northwest Multiple Listing Service for the period 04/01/2023 - 04/01/2025

IDXThe content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland, Oregon. Real estate listings held by another brokerage firm are marked with the RMLS logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2025 Regional Multiple Listing Service, Inc. (RMLS™) Portland, Oregon.

The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/7/2025, 12:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Listings courtesy of Northwest Multiple Listing Service 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.

IDX The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest Multiple Listing Service IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2025 Northwest MLS. All rights reserved.

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Disclaimer: Information contained in this listing has not been verified by Rocket Homes Real Estate, LLC and should be verified by the buyer. All information deemed reliable but not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. All properties are subject to prior sale, change or withdrawal. Neither broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Days on site is calculated from the listing date of the current listing and includes the sum of market time from prior listings for the same property uninterrupted by a sale or more than 60 days off-market. Time off market, including time when a sale is pending, temporarily off market, etc. is not included. NorthwestMLS
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/7/2025, 12:17:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.