Salem Housing Market Report February 2025•Culpeper County, Virginia

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Housing Prices in Salem, VA

How much do homes in Salem, VA cost?

Housing Market Conditions

Is Salem, VA 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 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

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.
$348,966$183/SqFt
+$38,966
+12.6%

Based on all homes sold in the last 12 months

Insight

Homes in Salem have sold for 12.6% more than they did a year ago.

Summary: The median home sold price in Salem was $348,966 in February 2025, up 12.6% from last year, and the median price per square foot was $183.

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
+12.6%
West Fairfax
+4.9%

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.
BedsFeb 2024Feb 2025Change YoY
1$154.8K$185K
+19.5%
2$200K$209.9K
+5.0%
3$285K$309.3K
+8.5%
4$399.5K$439.2K
+9.9%
5$517.5K$533.7K
+3.1%

Summary: Salem housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes increased by +19.5%. The home price for 2 bedroom homes increased by +5.0%. The home price for 3 bedroom homes increased by +8.5%. The home price for 4 bedroom homes increased by +9.9%. The home price for 5 bedroom homes increased by +3.1%.

How does Salem, VA compare with other places?

Market comparison tool

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

Salem, VA

Housing supply in Salem, VA

How many homes are available in Salem, VA?

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
186Last MonthFeb 2025
1602 months agoJan 2025
+16.3 %
Change MoMJan – Feb

Summary: The Salem real estate market had 186 homes for sale in Feb 2025, a 16.3 % increase compared to Jan 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
33Last MonthFeb 2025
362 months agoJan 2025
-8.3 %
Change MoMJan – Feb

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.
BedsJan 2025Feb 2025Change MoM
122
0.0%
21318
+38.5%
37386
+17.8%
45663
+12.5%
51617
+6.3%

Summary: Salem housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +38.5%. The inventory for 3 bedroom homes increased by +17.8%. The inventory for 4 bedroom homes increased by +12.5%. The inventory for 5 bedroom homes increased by +6.3%.

Asking Price vs. Sold Price

How much do homes in Salem, VA 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 Price10 Homes

At Asking Price10 Homes

Under Asking Price13 Homes

Insight

If you're buying a home in Salem, you may be able to get a good deal. 39.4% of homes here sold below asking price last month.

Summary: A total of 33 homes were sold or pending in Salem in February 2025, down by 8.3% month-over-month. Of the 33 sold homes, 39% were sold under asking, 30% were sold at asking, and and 30% were sold over asking.

Days on Market for Salem, VA

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

Breakdown of Home Sale Times

Under 30 Days2 Homes

30 – 90 Days1 Home

Over 90 Days1 Home

Insight

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

Summary: During February 2025, 33 homes were sold in Salem; 6% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 3% 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
58 DaysThis YearFeb 2025
76 Days1 year agoFeb 2024
-23.7 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in Salem had an average listing age of 58 days in Feb 2025, down by 23.7% compared to the previous year.

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Newest Listings in Salem, VA

What homes are available in Salem, VA?

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Nearby markets

Popular Cities with Homes for Sale in Virginia

MLS Disclaimers and Copyright

Based on information from Roanoke Valley Association of Realtors MLS, BrightMLS, Harrisonburg-Rockingham Association of Realtors MLS, and Lynchburg MLS for the period 03/01/2023 - 03/01/2025

IDXAlthough the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.

All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this web site may only use this listing data for their personal, non-commercial benefit. 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. The unauthorized retrieval or use of this listing data is prohibited.

All information is deemed reliable but not guaranteed, and should be independently verified. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/14/2025, 12:55:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2025 BrightMLS. 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: 3/14/2025, 12:55:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Broker Reciprocity The data relating to real estate for sale on this site comes in part from the Broker Reciprocity/IDX program of Charlottesville Area Association of REALTORS®, Greater Augusta Association of REALTORS® and Harrisonburg-Rockingham Association of REALTORS®. Real estate listings held by other brokerage firms are marked with the BR logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. IDX information 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. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. The Charlottesville Area Association of REALTORS®, Greater Augusta Association of REALTORS® and Harrisonburg-Rockingham Association of REALTORS® does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright © 2025 Charlottesville Area Association of REALTORS®, Greater Augusta Association of REALTORS® and Harrisonburg-Rockingham Association of REALTORS®. 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: 3/14/2025, 12:45:58 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Information is provided by the Lynchburg Association of REALTORS®. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. All properties are subject to prior sale, change or withdrawal. Listing(s) information 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. Copyright 2025 Lynchburg Association of REALTORS®. 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: 3/14/2025, 12:55:54 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.