Well if my last two posts didn’t bore the crap out of you, here are the regional stats for our Salem housing market for May. The MLS tracks 6 regions here in Salem.
Central Salem
Average Sold Price: $155,068
Median Sold Price: $156,000
Average DOM: 94
Current Inventory: 10.6 months
Suburban E Salem/North (Jan Ree, Haysville, etc)
Average Sold Price: $186,894
Median Sold Price: $179,900
Average DOM: 100
Current Inventory: 8.8 months
Suburban E Salem/South (Houck area)
Average Sold Price: $148,817
Median Sold Price: 147,010
Average DOM: 97
Current Inventory: 7.8 months
South East Salem (Morningside, Pringle areas)
Average Sold Price: $257,738
Median Sold Price: $215,000
Average DOM: 121
Current Inventory: 9.7 months
South Salem
Average Sold Price: $260,239
Median Sold Price: $245,000
Average DOM: 107
Current Inventory: 10.9 months
West Salem
Average Sold Price: $265,074
Median Sold Price: $260,000
Average DOM: 137
Current Inventory: 6.2 months
At this point, the West Salem real estate market is the only localized market that is approaching that goal of normal market. With just over 6 months inventory, it is approaching a neutral market.