Is Salem, OR 97306 a buyer’s or seller’s market?

The Salem housing market right now

In the three months ending August 31, 2026, 21% of homes in Salem, OR 97306 sold above their list price, the typical home went under contract in 55 days and there were 4.4 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 133 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 23%, homes sold faster (64 days then) and the median sale price fell 3% to $501,633. Overall, Salem is about as competitive as it was a year ago.

Within Marion County, homes here sell faster than in 55% of the county’s ZIP codes, and sell less often over asking than in 68%. On our competition score, Salem ranks #106 of 170 OR ZIP codes with enough sales (score 42 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.