Overall, it was a hold-steady kind of year for real estate in Salem, which is good for the upcoming selling season. Prices and inventory are either holding steady or trending upward, and days on the market is as well. This bodes well for the upcoming selling season, because a market that’s nice and predictable beckons more buyers and sellers to jump in and take a chance. 

Some key metrics for 2019: active listings were down 10 percent from 2018, months of inventory available was down 4 percent from 2018, and sales prices were up between 5 and 10 percent for the year for both Keizer and Salem. Keizer in particular had another banner year, with sales prices holding at 98 percent to list price, while Salem saw its sales prices slip to about 95 percent of list. This means there’s a little more bargaining in Salem and higher demand in Keizer. 

Number of sales in the Willamette Valley as a whole is holding steady with less than 1 percent change in number of homes sold since 2017. 

What Do Buyers and Sellers Need to Know?

Stability is a great thing for buyers and sellers, because it encourages more of both to the market. More buyers out there shopping keeps home prices from getting out of control, while having more buyers means homes sell faster and closer to list price. Most homes sellers can expect pretty quick turnaround with sales prices staying close to list, with the most desirable homes receiving multiple offers and exiting the market in a little more than a month. 

As the market gets more competitive, coming to market in show-ready condition is of paramount importance. This means getting your yard in tip-top shape, giving walls a coat of fresh, neutral paint, replacing outdated fixtures, and packing away personal photos, knick-knacks and closet clutter. Home furnishing catalogs are a great guide if you want to know what show-ready condition should look like. 

Key Salem Housing Market Statistics

Here are a few other key stats from the Willamette Valley Multiple Listing Service housing report for Year-End 2019: 

Average Price for Single-Family Home Salem – $326,819

Average Number of Days on the Market Salem – 77

Average Price for Single-Family Home Keizer - $331,346

Average Number of Days on the Market Willamette Valley– 81

Single-Family Homes Sold Willamette Valley – 945

Total Dollar Volume of Homes Sold in Willamette Valley -- $3,695,435,915

Months of Housing Inventory Available in Willamette Valley – 2.64

Total Pending Sales Willamette Valley – 1,156

Active Listings Willamette Valley – 2,459

Active Listings Salem – 396

Active Listings Keizer –  65