Home Values

03079 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

$253,100

  • 2.3% 1-year change
  • -0.6% 1-year forecast

The median home value in 03079 is $253,100. 03079 home values have gone up 2.3% over the past year and Zillow predicts they will fall -0.6% within the next year. The median list price per square foot in 03079 is $180, which is lower than the Salem average of $183. The median price of homes currently listed in 03079 is $284,900 while the median price of homes that sold is $246,862. The median rent price in 03079 is $1,500, which is the same as the Salem median of $1,500.

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 03079 is 3.5%, which is lower than the national value of 6.4%. 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 03079 homeowners underwater on their mortgage is 12.5%, which is the same as Salem at 12.5%.

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Relative ZHVI
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03079 Market Overview

Data through Jan 31, 2015
  • $253,100 ZHVI
  • -0.6% 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
    (Jan 31, 2016)
  • $284,900 Median listing price
  • $246,862 Median sale price
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03079 Market Health

Data through Jan 31, 2015
  • 6.3/10 Healthy
    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.
    (Dec 31, 2014)
  • No data Average days on Zillow
  • 12.5% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 3.5% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)
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Nearby Zip Codes

Name Median ZHVI
03087 $343,100
03841 $302,900
03811 $282,100
Name Median ZHVI
01844 $266,600
01832 $228,600
03865 $224,300
Name Median ZHVI
03038 $212,800
01843 $203,800
01841 $170,300

Listings & Sales

Data through Jan 31, 2015
  • $180 Median list price / sq ft
  • $177 Median sale price / sq ft
  • No data Listings with price cut
21.2%
Sold below listing
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03079 Rentals

Data through Jan 31, 2015
  • Zillow Rent Index

  • $1,752 03079
    $1,754 Salem
    $1,350 United States

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

  • 2.4 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,500 Rent list price
  • $1.57 Rent list price / sq ft (Dec 31, 2014)
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