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Foreclosures in Salem, OR 97305

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Salem, OR Foreclosures

How much do homes sell for in Salem, OR?
The average home price is currently $508,588.
In Salem, OR, how many homes are available?
There are currently 2 active home listings available in Salem.
What’s the average rental cost in Salem, OR?
The average rental price in Salem is $1,269.
What is the most expensive home in Salem?
The most expensive home sold in Salem had a price of $52,031,688.
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 thriving city that serves as the state capital with a rich history and a diverse community. Known for its beautiful parks and vibrant downtown area, Salem offers residents a blend of urban conveniences and outdoor opportunities. The city's excellent educational institutions and recreational options make it a great place to call home.

Current Market Conditions in Salem, OR

The Salem real estate market has remained stable with a slight increase in home values over the past year. The demand for housing continues to grow due to the city’s appeal, drawing both first-time buyers and investors seeking long-term rental properties.

In recent months, inventory levels have shown signs of improvement, leading to a more balanced market environment. However, competitive pricing remains crucial as the area attracts a steady influx of buyers.

Home Value Estimator For Salem, OR

There are currently 67,798 real estate properties in Salem, OR, with a median automated valuation model (AVM) price of $429,279.00. 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 $508,588.00, with the most expensive house in Salem, OR, topping out at $52,031,688.00 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 $1,269.00. 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.

Salem, OR 97305 Foreclosures

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