Salem, OR Housing Market Report

The Salem, Oregon housing market is currently experiencing a transition toward a more balanced environment, though it remains slightly tilted in favor of sellers due to stable pricing. As of December 2025, the median home value stands at $427,939, representing a modest year-over-year increase of 0.44%. While prices are holding steady, the most significant shift is found in inventory levels, which have surged by 18.65% compared to last year. This increase in active listings, totaling 1,139 units, provides prospective buyers with more options than they have seen in recent years, effectively cooling the frantic pace of the post-pandemic market.

Price trends over the last six months indicate a slow but consistent upward trajectory. Since July 2025, values have climbed from $424,829 to the current December high, showing that demand remains resilient despite broader economic headwinds. The sale-to-list ratio remains at a perfect 1, suggesting that homes are generally selling for their asking price. However, the time it takes to secure a contract has lengthened significantly. Homes are now spending an average of 73 days on the market, an 11-day increase from the previous year, which signals that buyers are becoming more selective and are no longer rushing into offers.

Looking ahead, the Salem market appears to be entering a period of price stabilization. For buyers, the combination of rising inventory and longer market times offers a strategic advantage to negotiate repairs or closing costs that were previously off the table. For sellers, the data underscores the importance of realistic pricing and property presentation. With homes sitting on the market for over two months on average, sellers must be prepared for a longer transaction timeline. The rental market also shows signs of steadying, with a median rent of $1,638, up 0.9% annually, suggesting that Salem remains an attractive location for both long-term residents and investors seeking stable returns.