March 2025 had a bit of a split personality: on one hand, home prices continued to climb, and ready-to-go listings were snapped up faster than the last slice of pizza at a party. On the other hand, fixer-uppers are sitting tight, waiting for someone with a hammer, vision, and serious motivation. Cash too. Lots of cash.
What’s Happening With Prices?
The median sales price in Salem jumped to $435,000, up 3.4% from February and 2.4% higher than this time last year. That’s not a tiny bump—it’s a sign that demand is still holding strong, especially for homes that don’t need a ton of work.
Buyers are still out there. And when a home hits the market looking sharp and priced right? It’s gone.
Inventory Is a Bit Like Avocados—You Gotta Catch It at Just the Right Time
There were 350 active listings in March which was down just a hair from February. New listings did pop up, increasing by 57.4% month over month. So there is some fresh inventory. Still, it’s not piling up, which means competition isn’t cooling as much as some buyers might hope.
And here’s the thing: if you’re thinking you’ll wait it out? Buyers who’ve been sitting on the fence might be dealing with even higher prices or interest rates by summer.
Homes Are Moving—If They’re Move-In Ready
The average time a home spent on the market in March was 62 days, which is 13.9% slower than last month. The difference? Move-in ready homes are moving quickly. Fixer-uppers? Not so much—they’re taking their sweet time, which tells us today’s buyers aren’t looking to start a renovation show right after closing.
Interest Rates, Inflation & Buyer Mindsets
Interest rates haven’t scared everyone away—but they have made buyers a little pickier. If the house is dialed in, folks are still ready to compete. If it needs work? They’re swiping left.
Combine that with inflation fatigue and general economic jitters, and it’s no surprise that homes needing elbow grease are lagging.
What This Means for You
If you’re selling, this is your sign: clean it, stage it, and make it sparkle. You don’t have to remodel the kitchen, but little updates go a long way.
If you’re buying, know that you’re not alone—but you’re also not doomed. The key is to move quickly on the homes that show well and feel right. And yes, it still makes sense to buy now if you’re planning to stay put for a while—home values are trending up.
This data came from the WVMLS