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Is Salem, SD 57058 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Salem is a buyer’s market. With about 8.5 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply8.5Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list92.4%Sold price ÷ list price
Median days on market51Listing to accepted offer
Median price per sq ft$132▲ +4.2% vs. last year

The Salem housing market right now

In the three months ending August 31, 2026, 0% of homes in Salem, SD 57058 sold above their list price, the typical home went under contract in 51 days and there were 8.5 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 3 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking fell from 14%, homes sold more slowly (48 days then) and the median sale price fell 5% to $223,503. Overall, Salem is less competitive than a year ago, which gives buyers more room.

Within McCook County, homes here sell more slowly than in 60% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.

Run the numbers for 57058

Prefilled for 57058Can I win this house?Multiple-offer likelihood for a listing Prefilled for 57058Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Bridgewater 57319Buyer’s market $102 /sq ftCanistota 57012Buyer’s market $199 /sq ftMonroe 57047Seller’s market $64 /sq ftMontrose 57048Seller’s market $172 /sq ft Browse all markets →

Towns like Salem nearby

Find towns like Salem in other states →
Parkston, SD57366 · 38 miles away91% similarcheaper homes ($44K less) Colton, SD57018 · 21 miles away85% similar6 min longer commute Parker, SD57053 · 26 miles away83% similarpricier homes ($45K more) · younger residents Lennox, SD57039 · 37 miles away82% similarpricier homes ($62K more) · larger

Where Salem is

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Questions about Salem real estate

Is Salem a buyer’s or seller’s market?

A buyer’s market: there were 8.5 months of supply in Salem, SD 57058 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.

How fast do homes sell in Salem?

The typical home went under contract in 51 days in the latest three months.

Do homes in Salem sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 92.4% of the list price.

What are property taxes in Salem?

About 1.06% of a home’s value a year in McCook County, or roughly $4,240 on a $400,000 home.

What is the median home price in Salem?

The median sale price was $223,503 in the three months ending August 31, 2026, about $132 per square foot.

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology