Real Estate Market Update for Salem, MA
Welcome to October's Market Update. Lets take a look at residential real-estate activity in your area during the month of September. The number of active listings was down 46% from one year earlier, and down 3% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just over 360-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 24%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 350-thousand dollars. The number of units sold decreased 26% year-over-year, and decreased 41% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for Salem, MA
Area Information for Salem, MA
  • Population: 43,869
  • Median Age: 39 yr
  • Median Commute Time: 26 mins
  • Educational Climate*: 4
  • Sales Tax: 6%
  • Population Density: 5,285/sq mi
  • Population Change Since 2000: 8.57%
  • Closest Airport: General Edward Lawrence Logan International
  • Closest College: Salem State University
  • Closest Jr. College: Marian Court College
  • Median Household Income: $61,406
  • Annual Residential Turnover: 18%
  • Median Home Sales Price: $306,000
  • Closest Major Sports Team: Boston Bruins
  • Change Avg. Household Income Since 2000: 37.84%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Salem, MA
Median Age: 39 Married: 30% Number of Households: 18,902 Households with Children: 4,500
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for Salem, MA

      School Name Distance Type Grades School Rating Parent Rating
      Collins Middle School 0.2 mi Public 6-8 2 0
      Phoenix 0.3 mi Private PRESCHOOL-8 0 0
      Saltonstall School 0.5 mi Public K-8 2 0
      Salem High School 0.6 mi Public 9-12 1 3
      Nathaniel Bowditch 0.7 mi Public K-8 0 0
      Salem Community Charter School 0.7 mi Public 9-12 0 0
      Salem Academy Charter School 0.7 mi Public 6-12 4 3
      Horace Mann Laboratory School 1.0 mi Public K-5 2 0
      Witchcraft Heights Elementary School 1.0 mi Public K-5 2 0
      Salem Prep High School 1.0 mi Public 9-12 0 0
      The Greenhouse School 1.2 mi Private K-8 0 0
      Carlton Elementary School 1.3 mi Public K-5 3 0
      Bates Elementary School 1.3 mi Public PRESCHOOL-5 2 0
      Salem Early Childhood 1.5 mi Public PRESCHOOL-PRESCHOOL 0 0
      Bentley Academy Charter School 1.5 mi Public K-5 0 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2016. School Performance data by School Review data by
      Local Weather for Salem, MA
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.