Home Values

97303 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$189,800

  • 8.0% 1-year change
  • 5.0% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this zip code relative to other zip codes in the same metropolitan area. A particular zip code may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Warm

Buyers' Market
Sellers' Market

The median home value in 97303 is $189,800. 97303 home values have gone up 8.0% over the past year and Zillow predicts they will rise 5.0% within the next year. The median list price per square foot in 97303 is $128, which is lower than the Salem Metro average of $129. The median price of homes currently listed in 97303 is $214,900 while the median price of homes that sold is $189,250. The median rent price in 97303 is $780, which is lower than the Salem Metro median of $850.

Foreclosures will be a factor impacting home values in the next several years. In 97303 3.8 homes are foreclosed (per 10,000). This is lower than the Salem Metro value of 6.7 and also lower than the national value of 4.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 97303 is 4.7%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 97303 homeowners underwater on their mortgage is 21.5%, which is higher than Salem Metro at 21.3%.

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Relative ZHVI
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97303 Market Overview

Data through Sep 30, 2014
  • $189,800 ZHVI
  • 5.0% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Sep 30, 2015)
  • $214,900 Median listing price
  • $189,250 Median sale price
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97303 Market Health

Data through Sep 30, 2014
  • 5.3/10 Stable
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 21.5% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 4.7% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

3.8 homes 97303
6.7 homes Salem Metro
4 homes United States
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Nearby Zip Codes

Name Median ZHVI
97304 $216,900
97306 $215,500
97302 $202,600
Name Median ZHVI
97317 $178,400
97114 $164,900
97305 $163,600
Name Median ZHVI
97071 $149,400
97026 $144,100
97301 $134,100

Listings & Sales

Data through Sep 30, 2014
  • $128 Median list price / sq ft
  • $121 Median sale price / sq ft
  • 37.7% Listings with price cut
17.0%
Sold below listing
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97303 Rentals

Data through Sep 30, 2014
  • Zillow Rent Index

  • $1,254 97303
    $1,202 Salem Metro
    $1,335 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.6 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $780 Rent list price
  • $0.86 Rent list price / sq ft
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