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Market Intelligence · OR / Salem

Salem, OR 97306 Housing Market

The typical home in Salem's 97306 ZIP code is valued at $489,921 as of September 2026, down 0.1% over the past year. Sellers are listing at a median of $568,121, and homes are spending a median of 69 days on the market.

Updated September 2026Median value$490K

The median home value in Salem, OR 97306 is $490K 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 97306 range

$451K to $529K

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 97306 over the last 12 months: $490K in Sep 2025 to $490K in Sep 2026 (-0.1%).

Sep 2025$490K

Sep 2026$490K

The numbers

What is the 97306 housing market like?

Typical home value

$490K

Down0.1%YoY

Median list price

$568K

Down0.2%MoM

Days on market

69

Up21.1%MoM

Homes for sale

170

Down4.5%MoM

Price cuts

31.4%

Up7.7%MoM

New listings

42

Down19.2%MoM

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

The outlook

97306 housing market forecast 2027

0.0%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 97306 to stay roughly flat by September 2027 (no change).

Over the 12 months through September 2026, typical home values in 97306 fell 0.1%, per the Zillow Home Value Index.

Will home prices drop in 97306?

Zillow's forecast does not point to a meaningful drop: it expects typical home values in 97306 to stay roughly flat by September 2027 (no change), 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 97306 home prices compare?

  • 97306$489,921
  • 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

The 97306 housing market in Salem is moving at a measured pace. As of September 2026, there were 170 homes for sale, with 42 new listings coming on that month. Homes took a median of 69 days to sell, and 31.4% of listings had a price cut. The median list price sat at $568,121, while the typical home value was $489,921, down 0.1% over the past year. For sellers, the honest read is that pricing realistically from the start matters more than usual in a market where values are flat and buyers are taking their time.

Monthly payment

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20% · $97,984

Common questions

What people ask us.

How much is a home in 97306 worth?

The typical home value in 97306 is $489,921 as of September 2026, down 0.1% over the past year.

How fast do homes sell in 97306?

Homes in 97306 spent a median of 69 days on the market as of September 2026.

Are sellers in 97306 cutting prices?

Yes. As of September 2026, 31.4% of listings in 97306 had a price cut.

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