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

$235,800

  • -0.0% 1-year change
  • -1.1% 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 neighborhood relative to other neighborhoods in the same metropolitan area. A particular neighborhood may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Cool
Buyers' Market
Sellers' Market

The median home value in Salem is $235,800. Salem home values have declined -0.0% over the past year and Zillow predicts they will fall -1.1% within the next year. The median rent price in Salem is $1,495, which is higher than the Virginia Beach median of $1,425.

Foreclosures will be a factor impacting home values in the next several years. In Salem 5.0 homes are foreclosed (per 10,000). This is greater than the Virginia Beach value of 4.8 and also greater than the national value of 3.6

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Relative ZHVI
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Salem Market Overview

Data through Jul 31, 2015
  • $235,800 ZHVI
  • -1.1% 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
    (Jul 31, 2016)
  • No data Median listing price
  • $236,375 Median sale price
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Salem Market Health

Data through Jul 31, 2015
  • 2.0/10 Less 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.
  • No data Average days on Zillow
  • No data Homes with negative equity (15.4% US Avg)
  • No data Delinquent on mortgage (6.0% US Avg)

Homes foreclosed (per 10,000)

5 Salem
5 Virginia Beach
4 United States
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Nearby Neighborhoods

Name Median ZHVI
Butts Station $317,000
Pembroke $278,200
Acredale $264,400
Name Median ZHVI
Greenbrier East $241,000
Mears Corner $233,900
Kempsville $208,400
Name Median ZHVI
Thalia $205,900
Green Run $189,800
Princess Anne Plaza $187,100

Listings & Sales

Data through Jul 31, 2015
  • No recent data Median list price / sq ft
  • $140 Median sale price / sq ft
  • No data Listings with price cut
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Salem Rentals

Data through Jul 31, 2015
  • Zillow Rent Index

  • $1,559 Salem
    $1,555 Virginia Beach
    $1,376 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
    (Mar 31, 2015)
  • $1,495 Rent list price
  • $0.91 Rent list price / sq ft
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