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Foreclosures in Salem, VA

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Salem, VA Foreclosures

How much do homes sell for in Salem, VA?
The average home price is currently $355,665.
In Salem, VA, how many homes are available?
There are currently 5 active home listings available in Salem.
What’s the average rental cost in Salem, VA?
The average rental price in Salem is $1,258.
What is the most expensive home in Salem?
The most expensive home sold in Salem had a price of $41,774,672.
What is currently the cheapest priced home in Salem, VA?
The cheapest home for sale in Salem is priced at $10,030.

Living in Salem, VA

Salem, VA is a picturesque city that combines history with modern amenities. Residents enjoy a strong sense of community, outdoor recreation, and convenience to urban areas. With top-rated schools and a vibrant lifestyle, Salem stands out as a desirable place to live.

Current Market Conditions in Salem, VA

The real estate market in Salem has been experiencing steady growth, with an increasing demand for homes due to its attractive lifestyle and nature-ready surroundings. Properties in Salem are selling relatively quickly, indicating a seller's market where buyers are motivated and competition is high.

There has been a noticeable increase in first-time homebuyers attracted to the area, particularly younger families looking for good schools and safe neighborhoods. This trend is positively influencing home values and prompting new development projects throughout the city.

Home Value Estimator For Salem, VA

There are currently 14,765 real estate properties in Salem, VA, with a median automated valuation model (AVM) price of $292,881.00. 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, VA, 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, VA, is $355,665.00, with the most expensive house in Salem, VA, topping out at $41,774,672.00 and the cheapest home in Salem, VA, clocking in at $10,030.00. In other words, there’s something for every potential homebuyer or savvy investor in Salem, VA!

Rent Prices In Salem, VA

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Salem, VA, is on a rollercoaster ride. The average rent price in Salem, VA, is $1,258.00. Indeed, when looking to rent in Salem, VA, you can expect to pay as little as $570.00 or as much as $2,920.00, with the average rent median estimated to be $1,170.00. The good news is that finding an affordable and desirable property to rent in Salem, VA -- 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, VA Foreclosures

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