Photo: Mojo Hand · CC BY-SA 3.0295 homes sold in Salem in the last year, at a typical $290K
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.
5% of Salem’s sales are condos, at $90K less than a house
263 houses and 15 condos sold in the year to May 2026. Houses sell faster and draw more bidding wars.
typical sale · 263 sold in 12 months
- Per square foot
- $152VA $222
- Days to sell
- 23
- Sold over asking
- 28%
- Listings with a price cut
- 35%
typical sale · 15 sold in 12 months
- Per square foot
- $198VA $301
- Days to sell
- 39
- Sold over asking
- 13%
- Listings with a price cut
- 40%
Multi-family (2–4 units): 3 sold, typical $502K
Townhouses: 14 sold, typical $261K
Too few sales in 12 months for reliable figures.
About as many homes sell as usual, at 1.8 times the 2016 price
295 sales in the last year, against 430 in 2021 and a low of 178 in 2012. The typical sale went from $162K in 2016 to $290K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $300K 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 half fewer homes come up for sale
We read every month of Salem’s home sales 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, 295 sales.
If you’re buying in Salem
- Shop in March. It brings about 35 new listings a month, close to the busiest month, with fewer bidding wars (25% over asking).
- Bid near asking. Buyers paid 98.6% of the list price on average; 26% paid over.
- You’ll usually have time. Only 43% of homes go under contract within two weeks; the typical one takes 22 days.
Spring brings both the most homes and the most bidding wars
April has the most new listings (about 43 a month), but May is the most competitive: 35% of May sales close over asking. January has the least competition (21%) but only about 25 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and about like Virginia as a whole
| Salem now | 2017–19 | 2021 peak | VA now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 26% | 16% | 43% | 31% |
| Gone within two weeksShare of homes under contract within 14 days | 43% | 1% | 0% | 43% |
| Listings with a price cutShare of homes for sale that cut their price | 32% | — | — | 25% |
| Price paid vs. askingAverage sale price ÷ list price | 98.6% | 97.4% | 99.8% | 99.3% |
| Days to sellMedian days from listing to contract | 22 | 76 | 54 | 38 |
58 homes for sale on a typical day
That’s 1.4 times the 2022 low (41), 47% fewer than in 2017–19 and well under 2014’s 196.
1 in 3 listings has cut its price
32% in the last year, against — in 2017–19 and 25% across Virginia.
Since 2019, houses are up 68%, condos 65%
A house typically sold for $300K in the last year (263 sales), a condo for $210K (15).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Salem ranks 136th of 179 busy Virginia markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Salem is one of the state’s calmer markets.
Source: Redfin Data Center, city market tracker, 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 $1,729 a month
Price: Salem’s typical sale, last 12 months. Property tax at Salem’s 0.9% (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 April
The month with the most choice. December has the fewest, about 18.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $290K home, about $2,590 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.
Roanoke and Vinton 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 | |
|---|---|---|---|---|---|
| Roanoke | 1,348 | $234K | $134 | 26% | 28 |
| Cave Spring | 378 | $356K | $155 | 22% | 27 |
| Salem | 295 | $290K | $156 | 26% | 22 |
| Hollins | 230 | $305K | $154 | 23% | 34 |
| Vinton | 87 | $248K | $145 | 23% | 30 |
| Cloverdale | 59 | $421K | $172 | 20% | 32 |
| Daleville | 42 | $473K | $170 | 21% | 48 |
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, VA?
295 homes sold in the year to May 2026 at a typical $290K, $156 a square foot. Houses sold for about $300K, condos for about $210K.
Is Salem a buyer’s or seller’s market?
A seller’s market: 53 homes were for sale in May 2026 and 27 sold, about 2 months of supply. Buyers paid 98.6% of asking on average, and 32% of listings cut their price.
When is the best time to buy in Salem?
April brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Salem?
About 0.9% of a home’s value a year. On a $290K home that’s near $2,590.
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). 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).