Salem Home Prices & Values

No data Zillow Home Value Index

  • No data1-year change
  • No data 1-year forecast

The median list price per square foot in Salem is $128, which is higher than the Roanoke Metro average of $128. The median price of homes currently listed in Salem is $200,000 while the median price of homes that sold is $189,750. The median rent price in Salem is $795, which is lower than the Roanoke Metro median of $815.

Foreclosures will be a factor impacting home values in the next several years. In Salem 0.4 homes are foreclosed (per 10,000). This is lower than the national value of 4.3

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 3.4%, 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 Salem homeowners underwater on their mortgage is 10.9%.

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Relative ZHVI
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Salem Market Overview

Data through Aug 31, 2014
  • No data ZHVI
  • No data 1-yr forecast
  • $200,000 Median listing price
  • $189,750 Median sale price
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Salem Market Health

Data through Aug 31, 2014
  • No recent data
  • No data Average days on Zillow
  • 10.9% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 3.4% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Hardy $209,200 Fincastle $193,100 Boones Mill $155,800
Callaway $150,000 Roanoke $139,600  

Listings & Sales

Data through Aug 31, 2014
  • $128 Median list price / sq ft
  • $122 Median sale price / sq ft
  • 42.5% Listings with price cut
14.8%
Sold below listing
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Salem Rentals

Data through Aug 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,098 Salem
$1,085 Roanoke Metro
$1,328 United States
  • No data Breakeven horizon
  • $795 Rent list price
  • $0.88 Rent list price / sq ft
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