Here are the regional stats for our Salem housing market for June. The MLS tracks 6 regions here in Salem. These stats are for single family units which includes condos.
Central Salem
Average Sold Price: $163,971
Median Sold Price: $156,000
Average DOM: 129
Current Inventory: 8.2 months
Suburban E Salem/North (Jan Ree, Haysville, etc)
Average Sold Price: $182,555
Median Sold Price: $191,500
Average DOM: 99
Current Inventory: 8.6 months
Suburban E Salem/South (Houck area)
Average Sold Price: $168,469
Median Sold Price: $163,900
Average DOM: 94
Current Inventory: 8.3 months
South East Salem (Morningside, Pringle areas)
Average Sold Price: $236,233
Median Sold Price: $212,500
Average DOM: 114
Current Inventory: 10 months
South Salem
Average Sold Price: $290,422
Median Sold Price: $250,250
Average DOM: 123
Current Inventory: 9.0 months
West Salem
Average Sold Price: $254,633
Median Sold Price: $205,000
Average DOM: 167
Current Inventory: 14.7 months
Not surprisingly, the more affordable areas of Salem have lower inventories. West Salem with all of the new construction homes at West Meadows Estates and Orchard Heights is especially hit hard. Until new construction inventories decrease West and South Salem areas will continue to have higher inventories.
(c) Copyright, 2008. Melina Tomson, All Rights Reserved (ie…be nice and create your own content. Don’t steal mine…)