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

None

  • None 1-year change
  • None 1-year forecast

The median list price per square foot in Salem is None. The median rent price in Salem is $720, which is lower than the Roanoke Metro median of $845.

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 3.0

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 Salem is 1.5%, which is lower 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 12.7%.

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Relative ZHVI
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Salem Market Overview

Data through Feb 28, 2015
  • No data ZHVI
  • No data 1-yr forecast
  • No data Median listing price
  • $207,692 Median sale price
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Salem Market Health

Data through Mar 31, 2015
  • No recent data
  • No data Average days on Zillow
  • 12.7% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 1.5% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)
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Nearby Cities

Name Median ZHVI
Hardy $200,100
Shawsville $150,300
Boones Mill $143,900
Name Median ZHVI
Callaway $138,300
Roanoke $135,700
 

Listings & Sales

Data through Feb 28, 2015
  • No recent data Median list price / sq ft
  • $120 Median sale price / sq ft
  • No data Listings with price cut
38.2%
Sold below listing
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Salem Rentals

Data through Mar 31, 2015
  • Zillow Rent Index

  • $1,156 Salem
    $1,119 Roanoke Metro
    $1,362 United States

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

  • No data Breakeven horizon
  • $720 Rent list price
  • $0.80 Rent list price / sq ft
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