SALEM CITY HOUSING MARKET DATA

With relatively few transactions, there was a decrease in total units sold in April, with 17 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 April 2024.

Versus last year, the total number of homes available this month is higher by 9 units or 20%. The total number of active inventory this April was 54 compared to 45 in April 2024. This month's total of 54 is higher than the previous month's total supply of available inventory of 44, an increase of 23%.

Last April, the median sale price for Salem City Homes was $239,500. This April, the median sale price was $287,000, an increase of 20% or $47,500 compared to last year. The current median sold price is 22% higher than in March.

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

In April, there was 3.2 months of supply available in Salem City, compared to 1.7 in April 2024. That is an increase of 84% 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 40 homes newly listed for sale in Salem City compared to 39 in April 2024, an increase of 3%. There were 26 current contracts pending sale this April compared to 34 a year ago. The number of current contracts is 24% lower than last April.

In April, the average sale price in Salem City was 97.9% of the average list price, which is 1.3% lower than at this time last year.

This month, the average number of days on market was 20, lower than the average last year, which was 36, a decrease of 44%.





FOCUS ON: SALEM CITY HOUSING MARKET			APRIL 2025

Units Sold 17	Active Inventory 54	Median Sale Price $287,000	Days On Market 20

Down Vs. Year Ago	Up 20% Vs. Year Ago	Up 20% Vs. Year Ago	Down -44% Vs. Year Ago


		Units Sold With relatively few transactions, there was a decrease in total units sold in April, with 17 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 April 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 9 units or 20%. The total number of active inventory this April was 54 compared to 45 in April 2024. This month's total of 54 is higher than the previous month's total supply of available inventory of 44, an increase of 23%.
		Median Sale Price Last April, the median sale price for Salem City Homes was $239,500. This April, the median sale price was $287,000, an increase of 20% or $47,500 compared to last year. The current median sold price is 22% higher than in March. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 40	Current Contracts 26	Sold Vs. List Price 97.9%	Months of Supply 3.2

Up 3% Vs. Year Ago	Down -24% Vs. Year Ago	Down -1.4% Vs. Year Ago	Up 84% Vs. Year Ago


		Months of Supply In April, there was 3.2 months of supply available in Salem City, compared to 1.7 in April 2024. That is an increase of 84% 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 40 homes newly listed for sale in Salem City compared to 39 in April 2024, an increase of 3%. There were 26 current contracts pending sale this April compared to 34 a year ago. The number of current contracts is 24% lower than last April.
		Sale Price to List Price Ratio In April, the average sale price in Salem City was 97.9% of the average list price, which is 1.3% lower than at this time last year. Days on Market This month, the average number of days on market was 20, lower than the average last year, which was 36, a decrease of 44%.



	*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.