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Market Intelligence · OR / Salem

Salem, OR 97302 Housing Market

The typical home in Salem's 97302 ZIP code is worth $456,438, down 0.1% over the past year as of September 2026. Sellers listed homes at a median of $531,200, and properties spent a median of 61 days on the market.

Updated September 2026Median value$456K

The median home value in Salem, OR 97302 is $456K as of September 2026, down 0.1% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 97302 range

$420K to $493K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

-0.1% over 12 months

Typical home value in 97302 over the last 12 months: $457K in Sep 2025 to $456K in Sep 2026 (-0.1%).

Sep 2025$457K

Sep 2026$456K

The numbers

What is the 97302 housing market like?

Typical home value

$456K

Down0.1%YoY

Median list price

$531K

Up1.2%MoM

Days on market

61

Down4.7%MoM

Homes for sale

163

Down0.6%MoM

Price cuts

33.3%

Up18.0%MoM

New listings

42

Down4.5%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

97302 housing market forecast 2027

-0.1%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 97302 to stay roughly flat by September 2027 (down 0.1%).

Over the 12 months through September 2026, typical home values in 97302 fell 0.1%, per the Zillow Home Value Index.

Will home prices drop in 97302?

Zillow's forecast does not point to a meaningful drop: it expects typical home values in 97302 to stay roughly flat by September 2027 (down 0.1%), after a 0.1% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 97302 home prices compare?

  • 97302$456,438
  • Salem$453,407
  • Oregon$456,438
  • United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Salem: 7 ZIPs; Oregon: 339 ZIPs; United States: 26,262 ZIPs).

Context

As of September 2026, 97302 had 163 homes for sale, with 42 new listings entering the market that month. The median list price stood at $531,200, well above the typical home value of $456,438, which slipped 0.1% over the past year. Homes took a median of 61 days to sell, and 33.3% of listings carried a price cut. Together these figures describe a slow market where asking prices often start higher than what buyers are paying. Sellers should plan on realistic pricing and some negotiation rather than a quick sale at full list.

Monthly payment

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20% · $91,288

Common questions

What people ask us.

How much is a home in 97302 worth?

The typical home value in 97302 is $456,438 as of September 2026, down 0.1% over the past year.

How long does it take to sell a home in 97302?

Homes in 97302 spent a median of 61 days on the market as of September 2026.

Are sellers cutting prices in 97302?

Yes. As of September 2026, 33.3% of listings had a price cut, and the median list price was $531,200.

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