SALEM CITY HOUSING MARKET DATA

With relatively few transactions, there was a decrease in total units sold in July, with 21 sold this month in Salem City Real Estate. This month's total units sold was lower than at this time last year, a decrease from July 2024.

Versus last year, the total number of homes available this month is higher by 8 units or 17%. The total number of active inventory this July was 56 compared to 48 in July 2024. This month's total of 56 is higher than the previous month's total supply of available inventory of 52, an increase of 8%.

Last July, the median sale price for Salem City Homes was $260,750. This July, the median sale price was $260,000, which is similar compared to a year ago. The current median sold price is 4% lower than in June.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In July, there was 2.7 months of supply available in Salem City, compared to 1.7 in July 2024. That is an increase of 56% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 35 homes newly listed for sale in Salem City compared to 29 in July 2024, an increase of 21%. There were 27 current contracts pending sale this July compared to 22 a year ago. The number of current contracts is 23% higher than last July.

In July, the average sale price in Salem City was 99.9% of the average list price, which is 0.5% higher than at this time last year.

This month, the average number of days on market was 49, higher than the average last year, which was 39, an increase of 26%.





FOCUS ON: SALEM CITY HOUSING MARKET			JULY 2025

Units Sold 21	Active Inventory 56	Median Sale Price $260,000	Days On Market 49

Down Vs. Year Ago	Up 17% Vs. Year Ago	No Change Vs. Year Ago	Up 26% Vs. Year Ago


		Units Sold With relatively few transactions, there was a decrease in total units sold in July, with 21 sold this month in Salem City Real Estate. This month's total units sold was lower than at this time last year, a decrease from July 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 8 units or 17%. The total number of active inventory this July was 56 compared to 48 in July 2024. This month's total of 56 is higher than the previous month's total supply of available inventory of 52, an increase of 8%.
		Median Sale Price Last July, the median sale price for Salem City Homes was $260,750. This July, the median sale price was $260,000, which is similar compared to a year ago. The current median sold price is 4% lower than in June. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 35	Current Contracts 27	Sold Vs. List Price 99.9%	Months of Supply 2.7

Up 21% Vs. Year Ago	Up 23% Vs. Year Ago	Up 0.5% Vs. Year Ago	Up 56% Vs. Year Ago


		Months of Supply In July, there was 2.7 months of supply available in Salem City, compared to 1.7 in July 2024. That is an increase of 56% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 35 homes newly listed for sale in Salem City compared to 29 in July 2024, an increase of 21%. There were 27 current contracts pending sale this July compared to 22 a year ago. The number of current contracts is 23% higher than last July.
		Sale Price to List Price Ratio In July, the average sale price in Salem City was 99.9% of the average list price, which is 0.5% higher than at this time last year. Days on Market This month, the average number of days on market was 49, higher than the average last year, which was 39, an increase of 26%.



	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by Information included in this report is based on data supplied by the Roanoke Valley Association of REALTORS (RVAR) and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace as some brokerages choose not to provide transaction information. This may result in an understatement of completed sales and available listings. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of RVAR or Long & Foster Real Estate, Inc. or Long & Foster Real Estate, Inc.