The Downtown Salem housing market is very competitive. The median sale price of a home in Downtown Salem was $569K last month, up 3.1% since last year. The median sale price per square foot in Downtown Salem is $431, up 1.2% since last year.
What is the housing market like in Downtown Salem today?
In March 2024, Downtown Salem home prices were up 3.1% compared to last year, selling for a median price of $569K. On average, homes in Downtown Salem sell after 18 days on the market compared to 49 days last year. There were 7 homes sold in March this year, up from 7 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$569,000
+3.1% YoY | Mar 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Mar 2024
Growth
% YoY
Downtown Salem, MA
$569,000
+3.1%
United States
To compare other locations to the Downtown Salem and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Salem add value to a home.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Downtown Salem housing market?
Downtown Salem is very competitive. Homes sell in 20 days.
0
100
88
Very Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 12 months
Many homes get multiple offers, some with waived contingencies.
The average homes sell for about 3% above list price and go pending in around 20 days.
Hot homes
can sell for about 7% above list price and go pending in around 14 days.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Downtown Salem housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Downtown Salem.
Risk Factor
Flood Factor - Severe
35% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Downtown Salem has a severe risk of flooding. 80 properties in Downtown Salem are likely to be
severely affected
by flooding over the next 30 years. This represents 35% of all properties in Downtown Salem. Flood risk is increasing faster than the national average.
98% of properties are at severe
risk of a severe wind event over the next 30 years
Wind Factor
Downtown Salem has a Severe Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Downtown Salem is most at risk from hurricanes. 263 properties in Downtown Salem have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 100 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 111 mph.