SALEM CITY HOUSING MARKET DATA

There was an increase in total units sold in June, with 35 sold this month in Salem City Real Estate versus 29 last month, an increase of 21%. This month's total units sold was higher than at this time last year, an increase of 21% versus June 2024.

Versus last year, the total number of homes available this month is higher by 5 units or 11%. The total number of active inventory this June was 50 compared to 45 in June 2024. This month's supply remained stable as compared to last month.

Last June, the median sale price for Salem City Homes was $277,500. This June, the median sale price was $265,000, a decrease of 5% or $12,500 compared to last year. The current median sold price is 16% lower than in May.

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

In June, there was 1.4 months of supply available in Salem City, compared to 1.6 in June 2024. That is a decrease of 8% 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 36 homes newly listed for sale in Salem City compared to 25 in June 2024, an increase of 44%. There were 27 current contracts pending sale this June, consistent with the volume a year ago. The number of current contracts is 29% lower than last month.

In June, the average sale price in Salem City was 99.7% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 26, higher than the average last year, which was 17. This increase was impacted by the limited number of sales.





FOCUS ON: SALEM CITY HOUSING MARKET			JUNE 2025

Units Sold 35	Active Inventory 50	Median Sale Price $265,000	Days On Market 26

Up 21% Vs. Year Ago	Up 11% Vs. Year Ago	Down -5% Vs. Year Ago	Up Vs. Year Ago


		Units Sold There was an increase in total units sold in June, with 35 sold this month in Salem City Real Estate versus 29 last month, an increase of 21%. This month's total units sold was higher than at this time last year, an increase of 21% versus June 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 5 units or 11%. The total number of active inventory this June was 50 compared to 45 in June 2024. This month's supply remained stable as compared to last month.
		Median Sale Price Last June, the median sale price for Salem City Homes was $277,500. This June, the median sale price was $265,000, a decrease of 5% or $12,500 compared to last year. The current median sold price is 16% lower than in May. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 36	Current Contracts 27	Sold Vs. List Price 99.7%	Months of Supply 1.4

Up 44% Vs. Year Ago	No Change Vs. Year Ago	No Change Vs. Year Ago	Down -8% Vs. Year Ago


		Months of Supply In June, there was 1.4 months of supply available in Salem City, compared to 1.6 in June 2024. That is a decrease of 8% 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 36 homes newly listed for sale in Salem City compared to 25 in June 2024, an increase of 44%. There were 27 current contracts pending sale this June, consistent with the volume a year ago. The number of current contracts is 29% lower than last month.
		Sale Price to List Price Ratio In June, the average sale price in Salem City was 99.7% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 26, higher than the average last year, which was 17. This increase was impacted by the limited number of sales.



	*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.