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Preforeclosure Homes in Salem, OR

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Living in Salem, OR

Salem, Oregon, is a thriving city with a rich history, vibrant cultural scene, and numerous recreational opportunities. The city is home to beautiful parks, quality schools, and a charming downtown area. Residents enjoy a family-friendly atmosphere with convenient access to public amenities and transportation options.

Current Market Conditions in Salem, OR

Salem's real estate market has shown consistent growth, making it an attractive option for homebuyers and investors alike. The demand for homes has led to a competitive environment, with properties often receiving multiple offers. Prices have increased over the past year, reflecting the desirability of the area and the appeal of its amenities.

Recent data suggests that homes in Salem are selling faster than the national average, particularly in neighborhoods close to the city center and parks. The market is witnessing an influx of first-time homebuyers and young families looking for affordable housing options in an increasingly popular community.

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.

Salem, OR Preforeclosure Homes


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