Photo: John Phelan · CC BY-SA 4.049 homes sold in Salem in the last year, at a typical $429K
Redfin reports Salem’s sales by ZIP code, so these figures are for ZIP 06420, which takes in Salem and the area around it. Almost every sale is a house. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Salem homes are listed.
Every place Salem homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Salem.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
Houses are 86% of Salem’s sales, at a typical $463K
49 homes sold in the year to May 2026.
typical sale · 42 sold in 12 months
- Per square foot
- $232CT $273
- Days to sell
- 50
- Sold over asking
- 46%
Condos: 7 sold, typical $129K
Too few sales in 12 months for reliable figures.
Fewer homes sell than before 2021, at twice the 2016 price
49 sales in the last year, against 82 in 2020 and a low of 46 in 2014. The typical sale went from $226K in 2016 to $429K.
Source: Redfin Data Center, MLS sales; for ZIP 06420, which takes in Salem and the area around it (each month is a 3-month rolling window, its counts divided by 3). Typical price and $/sq ft are the monthly medians, weighted by sales.
What $450K buys in Salem
Check a listing against what Salem homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Salem are more common than before the pandemic, but two thirds fewer homes come up for sale
We read every month of home sales in ZIP 06420 since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 49 sales.
If you’re buying in Salem
- Shop in October. It brings about 8 new listings a month, close to the busiest month, with fewer bidding wars (38% over asking).
- Bid near asking. Buyers paid 99.4% of the list price on average; 40% paid over.
- Move fast on good ones. Half of homes are under contract within two weeks.
Summer brings both the most homes and the most bidding wars
August has the most new listings (about 9 a month), but July is the most competitive: 43% of July sales close over asking. September and October offer nearly as much choice with fewer homes bid up (39%). February has the least competition (30%) but only about 3 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and calmer than Connecticut
| Salem now | 2017–19 | 2021 peak | CT now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 40% | 23% | 57% | 56% |
| Gone within two weeksShare of homes under contract within 14 days | 49% | 12% | 59% | 47% |
| Listings with a price cutShare of homes for sale that cut their price | — | — | — | 18% |
| Price paid vs. askingAverage sale price ÷ list price | 99.4% | 97.6% | 100.7% | 102.2% |
| Days to sellMedian days from listing to contract | 52 | 81 | 54 | 39 |
10 homes for sale on a typical day
That’s 66% fewer than in 2017–19 and well under 2012’s 46.
Since 2019, houses are up 73%, condos 150%
A house typically sold for $463K in the last year (42 sales), a condo for $129K (7).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Source: Redfin Data Center, ZIP code tracker; for ZIP 06420, which takes in Salem and the area around it (each month is a 3-month rolling window, its counts divided by 3), January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Salem home costs about $2,829 a month
Price: Salem’s typical sale, last 12 months. Property tax at Salem’s 1.7% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Salem is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in August
The month with the most choice. February has the fewest, about 3.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $429K home, about $7,090 a year.
Taxes vs. neighborsSchools
The schools grade for Salem, from test results, graduation and how much students grow.
Schools in SalemCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Oxoboxo River and Norwich sell for less a square foot
The busier markets within 25 miles of Salem, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Norwich | 535 | $287K | $183 | 51% | 41 |
| Colchester | 145 | $440K | $240 | 72% | 30 |
| Waterford | 82 | $383K | $253 | 60% | 29 |
| Gales Ferry | 72 | $422K | $218 | 68% | 27 |
| Salem (ZIP 06420) | 49 | $429K | $224 | 40% | 52 |
| Oxoboxo River | 48 | $335K | $211 | 56% | 58 |
| Moodus | 43 | $379K | $246 | 49% | 58 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Salem, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Salem. People who follow the town see it, and so do people comparing Salem with their own town. No commission, no listing fee.
Questions about buying a home in Salem
What do homes sell for in Salem, CT?
49 homes sold in the year to May 2026 at a typical $429K, $224 a square foot.
Is Salem a buyer’s or seller’s market?
A seller’s market: 9 homes were for sale in May 2026 and 3 sold, about 2.7 months of supply. Buyers paid 99.4% of asking on average.
When is the best time to buy in Salem?
August brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Salem?
About 1.7% of a home’s value a year. On a $429K home that’s near $7,090.
Where can I see homes for sale in Salem?
Zillow, Redfin, Realtor.com and Homes.com all carry Salem’s MLS listings; the search links above open each one filtered to Salem.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted; for ZIP 06420, which takes in Salem and the area around it (each month is a 3-month rolling window, its counts divided by 3)). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).