Salem, OR Foreclosures
How much do homes sell for in Salem, OR?
The average home price is currently $499,844.
In Salem, OR, how many homes are available?
There are currently 12 active home listings available in Salem.
What’s the average rental cost in Salem, OR?
The average rental price in Salem is $1,268.
What is the most expensive home in Salem?
The most expensive home sold in Salem had a price of $52,928,024.
What is currently the cheapest priced home in Salem, OR?
The cheapest home for sale in Salem is priced at $12,834.
Living in Salem, OR
Salem, Oregon, is a beautiful city situated in the Willamette Valley with a rich historical heritage and a strong focus on community and outdoor living. Residents enjoy gardens, parks, and easy access to nature, along with cultural events throughout the year. The area provides great educational options, making it ideal for families and individuals alike.
Current Market Conditions in Salem, OR
The Salem real estate market has shown a steady increase in home values over the past few years, driven by a growing population and increased demand for housing. With interest rates fluctuating, homebuyers are becoming more strategic, seeking properties that meet their needs while working within their budgets. As a result, listings are moving quickly, with many homes receiving multiple offers, which signals a competitive market.
Recent data shows a 5% increase in home prices year-over-year, indicating healthy growth in the market. Buyers may find it challenging to navigate this competitive landscape, resulting in an increase in homes being sold above the asking price. The rental market has also tightened, leading many to explore purchasing options, contributing to bit more pressure on the housing supply.
Home Value Estimator For Salem, OR
There are currently 65,152 real estate properties
in Salem, OR,
with a median automated valuation model (AVM) price
of $428,568.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Salem, OR, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Salem, OR,
is $499,844.00, with the most expensive house
in Salem, OR, topping out
at $52,928,024.00 and the cheapest home
in Salem, OR,
clocking in at $12,834.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Salem, OR!
Rent Prices
In Salem, OR
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Salem, OR, is on
a rollercoaster ride. The
average rent price in Salem, OR,
is $1,268.00. Indeed, when looking to rent in
Salem, OR, you can expect to pay as little
as $630.00 or as much
as $3,940.00,
with the average rent median estimated to
be $1,220.00. The good news is that finding
an affordable and desirable property to rent in Salem, OR
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
Learn more on Foreclosure homes
