Is Salem, OR 97301 a buyer’s or seller’s market?
Salem is a seller’s market. With about 3.6 months of supply and 27% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 59% of U.S. ZIP codes, and #59 of 170 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Salem housing market right now
In the three months ending August 31, 2026, 27% of homes in Salem, OR 97301 sold above their list price, the typical home went under contract in 41 days and there were 3.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 138 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (27% then), homes sold about as fast and the median sale price rose 3% to $416,782. Overall, Salem is about as competitive as it was a year ago.
Within Marion County, homes here sell faster than in 68% of the county’s ZIP codes, and sell more often over asking than in 55%. On our competition score, Salem ranks #59 of 170 OR ZIP codes with enough sales (score 57 out of 100).
Nearby, buyers who want less competition could look at Gates 97346 (0% sold over asking) or Detroit 97342 (0% sold over asking), while Donald 97020 (100% sold over asking) and Hubbard 97032 (38% sold over asking) are even more competitive.
Run the numbers for 97301
Nearby markets
Aumsville 97325Seller’s market $327 /sq ftAurora 97002Seller’s market $339 /sq ftDetroit 97342Balanced $397 /sq ftDonald 97020Seller’s market $302 /sq ft Browse all markets →Towns like Salem nearby
Find towns like Salem in other states →Where Salem is
Loading map…
Questions about Salem real estate
Is Salem a buyer’s or seller’s market?
A seller’s market: there were 3.6 months of supply in Salem, OR 97301 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 41 days in the latest three months.
Do homes in Salem sell over asking?
27% of homes sold above their original list price, and the typical sale closed at 99.9% of the list price.
What are property taxes in Salem?
About 0.84% of a home’s value a year in Marion County, or roughly $3,360 on a $400,000 home.
What is the median home price in Salem?
The median sale price was $416,782 in the three months ending August 31, 2026, about $260 per square foot.
Local agents
See all agents in 97301 →No sponsored agents in 97301 yet. Are you an agent here? Put your name in front of local buyers.
More tools for 97301
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology