The West Salem real estate market, all of zip code 97304, was historically strong in 2015. All data points show a strong gain from 2014 to 2015. There were 543 resale homes sold in 2015. That is an increase of 37% over 2014. The average price of sold homes also rose significantly in 2015. The average sale price in 2015 was $239,210, compared to $219,763 in 2014. That is an increase of 8.8%. The last strong indicator in determining the strength of the market is the Total Days on Market. This helps show how long a home was for sale before ultimately selling. The smaller the number the better. The Days on Market improved, from a median of 86 in 2014 to 72 in 2015. That is an improvement of 19%.
The real estate market is extremely strong in West Salem. It is currently showing better numbers than most other areas around Salem and the state of Oregon. Now is the time to sell a home if you are interested!
West Salem Quick Stats:
- 2015 there were a total of 543 home sales in W Salem with an average sale price of $239,210, up 8.8% from 2014
Median days on market dropped to 72
Prices in the Salem market have continued to grow relative to last year
Gains in the last 3 years have extended the trend of positive price growth after the recession
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Oregon real estate price expectations are estimated to grow at a 4.3% pace compared to a nationwide estimate of 3.2%
Stats courtesy of Realtor.org and Ticor Title. Info deemed reliable but not guaranteed.
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