Salem 2017 Housing Market Review
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The median price of the SFHs sold in Salem in 2017 increased 4.1% to a new high of $385,000. Sales were down somewhat from 2016, reflecting the shortage of inventory. (Numbers in bold represent peak levels).
The breakdown of sales by price shows a drop in sales under $400,000, a reflection of gently rising prices.
The median price of the condos sold in Salem in 2017 rose 12.4% to a record $310,000, breaking through $300,000 for the first time. Shortage of inventory caused a sharp drop in sales.