Home Values

Salem 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

$307,200

  • 4.8% 1-year change
  • 1.7% 1-year forecast

The median home value in Salem is $307,200. Salem home values have gone up 4.8% over the past year and Zillow predicts they will rise 1.7% within the next year. The median list price per square foot in Salem is None. The median rent price in Salem is $1,700, which is lower than the Boston Metro median of $2,400.

Foreclosures will be a factor impacting home values in the next several years. In Salem 1.7 homes are foreclosed (per 10,000). This is lower than the national value of 3.9

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 Salem is 7.4%, which is higher than the national value of 6.3%. 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 Salem homeowners underwater on their mortgage is 9.5%, which is lower than Boston Metro at 9.8%.

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Relative ZHVI
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Salem Market Overview

Data through Apr 30, 2015
  • $307,200 ZHVI
  • 1.7% 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
    (Apr 30, 2016)
  • No data Median listing price
  • No recent data Median sale price
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Salem Market Health

Data through Apr 30, 2015
  • No recent data Stable
  • No data Average days on Zillow
  • 9.5% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 7.4% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

1.7 homes(Mar 31, 2015) Salem
3.9 homes United States
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Nearby Cities

Name Median ZHVI
Marblehead $540,600
Wenham $506,400
Nahant $478,100
Name Median ZHVI
Swampscott $399,200
Beverly $359,800
Danvers $355,800
Name Median ZHVI
Peabody $329,300
Saugus $327,000
Lynn $228,100

Listings & Sales

  • No data
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Salem Rentals

Data through Apr 30, 2015
  • Zillow Rent Index

  • $1,990 Salem
    $2,184 Boston Metro
    $1,364 United States

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

  • 3.0 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • $1,700 Rent list price
  • $1.67 Rent list price / sq ft
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