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Salem

Why you'd want to live in Salem

Salem, Virginia, is a charming small city located adjacent to Roanoke, known for its friendly atmosphere, historic neighborhoods, and strong sense of community. Salem provides a variety of housing options, from historic single-family homes to contemporary townhouses and apartments.

Salem Market Report

$407,131

AVERAGE PRICE OF 120 HOMES

$162,000

AVERAGE PRICE OF 1 DISTRESSED HOMES

$1,548,317

AVERAGE PRICE OF 3 MULTI-MILLION DOLLAR HOMES

$430,877

AVERAGE PRICE OF 41 NEWLY BUILT HOMES

$431,989

AVERAGE PRICE OF 9 HOMES WITH A POOL

$286,906

AVERAGE PRICE OF 8 REDUCED PRICE HOMES

Average Home

Average Price $407,131
Avg Bedrooms 3.43 beds
Avg Bathrooms 2.14 baths

Average Price by Bedrooms

1 bedroom $300,000
2 bedrooms $262,250
3 bedrooms $348,672
4 bedrooms $442,605
5 bedrooms $603,033
Salem Home Price Trends
  1/2025 12/2024 11/2024 10/2024 9/2024
Total Listings 114 120 149 154 156
Average Price $409,569 $407,856 $398,229 $392,100 $409,298
Avg Price Change +0.42% +2.42% +1.56% -4.39% -3.55%
Median Price $384,889 $384,586 $378,841 $375,492 $384,669
Med Price Change +0.08% +1.52% +0.89% -2.44% -3.45%
Avg Bedrooms 3.49 beds 3.55 beds 3.53 beds 3.53 beds 3.55 beds
Avg Bathrooms 2.18 baths 2.2 baths 2.24 baths 2.27 baths 2.35 baths
Home Price by High School
School Name Total Homes Average Price Avg Days on Site
Salem High 62 $370,665 126 days
Home Price by House Size
Total Homes Average Price Avg Days on Site
All Homes 120 $407,131 101 days
Distressed Homes 1 $162,000 64 days
Multi-Million Dollar Homes 3 $1,548,317 106 days
Newly Built Homes 41 $430,877 171 days
Homes with a Pool 9 $431,989 119 days
Reduced Price Homes 8 $286,906 40 days
Reiner Realty
Rene Reiner
2923 Brambleton Ave. SW
Roanoke, VA 24015
540-793-4095
Joel Balsley
NMLS#210455
Licensed in VA
Office #: 540-278-1430
Mobile #: 540-597-8877
joelbalsley@atlanticbay.com



Featured real estate company is not a mortgage lender and so you should contact Atlantic Bay Mortgage Group, L.L.C. directly to learn about its products and your eligibility for such products. The featured lender has an affiliated business relationship with the featured real estate agent. You are under no obligation to use the featured lender for financing. All loans subject to income verification, credit approval and property appraisal. Not a commitment to lend. Atlantic Bay Mortgage Group, L.L.C. NMLS #72043 (nmlsconsumeraccess.org) is an Equal Opportunity Lender. Located at 600 Lynnhaven Parkway Suite 203 Virginia Beach, VA 23452.
Last updated; multiple times February 9, 2025. Information is deemed to be reliable, but is not guaranteed. Roanoke Valley Association of Realtors© 2025 MLS and FBS. Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this website does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed daily, but its accuracy is subject to market changes. All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this website may only use this listing data for their personal, non-commercial benefit. The unauthorized retrieval or use of this listing data is prohibited. The information on this sheet has been made available by the MLS and may not be the listing of the provider.
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