Salem, UT Home Values & Market Trends
Real estate market trends reflect that there have been 146 transactions over the past year in Salem. The median value for residential home transactions that occurred over the previous year is $662,289.33. The number of current listings in Salem is 7, and the percentage of properties for sale in the city is 7.00%. Salem, UT currently has 4 properties in foreclosure, 0 bank owned properties, 1 properties headed for auction, and 7 properties for sale.
Salem, UT Real Estate Market Overview
| Zip | Median Est. Value |
|---|---|
| 84653 | $ 644,420 $ 412/sqft |
Housing Market Summary for Salem, UT
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $899.5K | $655.4K | -27.14% |
| Median Sold Price | $612.7K | $655.4K | 6.97% |
| Homes For Sale | 7 | 3 | -57.14% |
| Homes Sold | 153 | 102 | -33.33% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Salem, UT
Browse Homes in Salem, UT
Salem home values range from $27,115 to $5,388,149. The median estimated value of a home in Salem is $662,289.33. The median list price of a home is 599,000, and the total count of properties in the city is 3,049.
- Pre-ForeclosurePre-foreclosure homes account for 0.10% of all residential properties in Salem, UT with 84653 containing 4 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There is 1 zips within Salem, UT; of that zips, the estimated home value for pre-foreclosure homes ranges from $816,500 in 84653 to the lowest home value of $457,000 in 84653.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Salem, UT ranges from the highest value of $0 in N/A to the lowest value of $0 in N/A. Bank owned homes and properties account for 0% of properties in Salem, UT. There is 1 zips within Salem, UT; N/A containing 0 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions84653 has 1 auction properties, the highest number of properties going to auction in a single zip in the state of Salem, UT. Auction homes and other auction properties account for 0.03% of all properties in Salem, UT. There is 1 zips within Salem, UT; of that zips, the median estimated home value for homes going to auction ranges from $730,154 in 84653 to the lowest value of $730,154 in 84653.
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Guide for Salem, UT
The Salt Lake City real estate market is experiencing significant shifts, as average property values have dropped citywide. However, neighbourhood trends vary, with West Valley City seeing a slight rise in property values, while others like North Salt Lake show a decline. This fluctuation highlights the importance of localized analysis in real estate investment.
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