Salem Housing Market Report January 2025•Roanoke County, Virginia

hero building illustration for mobile

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 Neutral Market

Difference Since January 2024

At the same time last year, Salem was a Seller's Market.

Insight

Salem is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

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.
$305,000$173/SqFt
+$15,893
+5.5%

Based on all homes sold in the last 12 months

Insight

Homes in Salem have sold for 5.5% more than they did a year ago.

Summary: The median home sold price in Salem was $305,000 in January 2025, up 5.5% from last year, and the median price per square foot was $173.

Median Sold Price By City

Median Sold Price By City
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
Roanoke
+9.6%
Salem
+5.5%
Salem
+5.5%
Catawba
+5.1%
Windsor Hills
+3.6%

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.
BedsJan 2024Jan 2025Change YoY
3$259.5K$281.3K
+8.4%
5$480K$495K
+3.1%
1$154.8K$178K
+14.9%
2$192.2K$208.5K
+8.5%
4$372K$397.2K
+6.8%

Summary: Salem housing price by bedroom type for January 2025, compared to the previous year. The home price for 3 bedroom homes increased by +8.4%. The home price for 5 bedroom homes increased by +3.1%. The home price for 1 bedroom homes increased by +14.9%. The home price for 2 bedroom homes increased by +8.5%. The home price for 4 bedroom homes increased by +6.8%.

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
141Last MonthJan 2025
1022 months agoDec 2024
+38.2 %
Change MoMDec – Jan

Summary: The Salem real estate market had 141 homes for sale in Jan 2025, a 38.2 % increase compared to Dec 2024.

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
22Last MonthJan 2025
272 months agoDec 2024
-18.5 %
Change MoMDec – Jan

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.
BedsDec 2024Jan 2025Change MoM
33258
+81.3%
51212
0.0%
112
+100.0%
21316
+23.1%
44453
+20.5%

Summary: Salem housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 3 bedroom homes increased by +81.3%. The inventory for 5 bedroom homes remained the same. The inventory for 1 bedroom homes increased by +100.0%. The inventory for 2 bedroom homes increased by +23.1%. The inventory for 4 bedroom homes increased by +20.5%.

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 Price7 Homes

At Asking Price3 Homes

Under Asking Price12 Homes

Insight

If you're buying a home in Salem, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in Salem in January 2025, down by 18.5% month-over-month. Of the 22 sold homes, 55% were sold under asking, 14% were sold at asking, and and 32% 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 Days1 Home

30 – 90 Days0 Home

Over 90 Days0 Home

Insight

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

Summary: During January 2025, 22 homes were sold in Salem; 5% of homes were sold within 30 days, 0% 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
6 DaysThis YearJan 2025
0 Days1 year agoJan 2024
0.0 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in Salem had an average listing age of 6 days in Jan 2025, down by .0% compared to the previous year.

Connect With An Agent

Local real estate agents are ready to help you find a home here

Sell My Home

Sell your home with an expert or get the job done on your own.

Get Approved

Get a customizable mortgage solution based on today's rates.

Newest Listings in Salem, VA

What homes are available in Salem, VA?

See More Listings

Nearby markets

Popular Cities with Homes for Sale in Virginia

MLS Disclaimers and Copyright

Based on information from Roanoke Valley Association of Realtors MLS, and Lynchburg MLS for the period 02/01/2023 - 02/01/2025

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: 2/5/2025, 4:20:51 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: 2/5/2025, 4:20:55 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.