Massachusetts Home Buyer Guide

Single-family homes in Salem, Massachusetts, experienced significant price growth in July despite a slight dip in sales volume, according to data from the Massachusetts Association of Realtors.

Meanwhile, the condominium market saw a substantial surge in closed sales while median prices remained relatively stable compared to the previous year.

Salem, MA Single Family Homes (July 2026)

Median Sales Price: Low inventory levels continued to push home values higher. The median price reached $779,000 in July, up almost 19 percent from $657,500 in July 2025.

Closed Sales: Transaction volume slowed slightly as homebuyers navigated higher price points. Homebuyers purchased 15 houses, down by one sale from the previous year.

Inventory of Homes for Sale: The number of single-family homes on the market rose 13 percent to 26 listings in July.

Months Supply of Inventory: There was about 2.2 months of supply in July, up from 1.8 months, suggesting a very slight easing of market tightness.

Percent of Original List Price Received: Buyers continued to pay a premium to secure housing in the competitive Salem, MA environment. Homebuyers paid about 103 percent of the original listing price on average, the same as in July 2025.

Salem, MA Single Family Homes (January through July)

Median Sales Price: The median sales price was flat through the first seven months of 2026, declining by only $2,500 to $722,500.

Closed Sales: There were 80 single-family homes sold through July, a 12 percent decrease from 91 during the same seven-month period last year.

Percent of Original List Price Received: 101.2 percent, down from 102.9 percent during January through July in 2025.

Salem Condominiums (July 2026)

Median Sales Price: $497,500, down by $6,000, a 1.2 percent decrease from July 2025.

Closed Sales: 32, up from 22, a 46 percent increase compared to July 2025.

Inventory of Homes for Sale: 58, up by three units from 55.

Months Supply of Inventory: 2.5 months of supply, up slightly from 2.4 months in July 2025.

Percent of Original List Price Received: 100.3 percent, on average, a steady performance from 100.3 percent.

Salem Condos (January through July)

Median Sales Price: $525,000, up 5 percent from $501,000 during the same seven-month period in 2025.

Closed Sales: 153, a 6 percent jump from 144 units.

Percent of Original List Price Received: 99.2 percent, down from 100.3 percent.

Bottom Line: The Salem market remained favorable for sellers as high demand for single-family homes drove prices upward in July. The July condo market saw softer pricing, creating more opportunities for buyers amid increased sales activity.

The real estate market is not consistent across cities and towns.  Experienced, professional buyer-agent representation is essential to understand fair market value and negotiate successfully.