Market analytics
Salem, Utah real estate market report.
Monthly sold prices, days on market, sale-to-list ratio, and absorption rate. Updated nightly from UtahRealEstate.com and the Washington County Board of Realtors.
Updated · Sources: UtahRealEstate.com & Washington County Board of Realtors
August 2026 · Market Analysis
Salem's listing count climbs to 260 as August closings thin to 24
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Closed sales in Salem fell to 24 in August 2026, down from 33 in July and a step below the prior 12-month average of 42 — a drop of roughly 27% from that average. That's a small enough batch that the month's $516,080 median sale price should be read as a snapshot of what closed, not a verdict on the whole market. What's harder to dismiss is the supply side: active listings reached 260, the highest mark of the past six months, even as closings kept shrinking.
Market pulse
Closed sales have moved unevenly all summer: 63 in May, down to 40 in June, 33 in July, and now 24 in August — the softest month of this stretch. Active listings have gone the other way, climbing from 153 in May to 167 in June, 217 in July, and 260 in August, while new listings stayed elevated at 71. Days on market actually tightened to a median of 25 in August, down from 34 in July, but with far fewer closings that reading carries less weight. The months-of-supply figure jumped to 10.83 from July's 6.58, signaling that listings are building faster than the current sales pace can work through, even if the precise multiple should be read directionally rather than literally.
Mortgage context
The 30-year rate sits at 6.875% today, up from 6.75% thirty days ago, and it's been on mostly one path since February's 6.16% monthly average — climbing to 6.48% in March, dipping slightly through spring, then reaching 6.79% in July and 6.77% in August. That six-month climb is layering onto a Salem market that already has more homes for sale than buyers are absorbing at the current pace.
Payment math
A $516,000 median-priced Salem home with 20% down runs $2,712 a month in principal and interest at today's 6.875%, up $34 from $2,678 just 30 days ago at 6.75% — and that same payment sits $194 above the $2,518 it would have been back in February 2026, when the rate averaged 6.16%.
If you're buying
Only 24 homes closed in Salem in August, so treat that thin batch carefully rather than as the whole story on price. With active listings at 260, up from 217 in July and 167 in June, you have real room to negotiate — five of August's closings went above list, but 4 sold below and 15 landed right at the asking price. Look at Viridian, where the median closing time was 31 days, and check Valley View and Arrowhead Springs, both of which appear in this month's top closings, for room to negotiate on days-on-market alone.
If you're selling
With only 24 closings against a 42-sale monthly average over the past year, buyers are not showing up in the numbers they were in May or June. Price close to what's actually closing — August's median sale price was $516,080 against a median list of $569,990 — rather than anchoring to what similar homes were asking earlier this summer. Homes in Salem Fields moved fast (median 0 days on market for August's three sales), so if your home is comparable in size and finish, price and stage it the same way.
Outlook
With 260 active listings against just 24 closings, buyers heading into fall have more room to negotiate than they've had all summer, and price flexibility should keep growing if new listings stay near August's 71 a month. Sellers should expect softer demand through the fall and winter slowdown that typically follows northern Utah's warm-weather selling season, especially with rates still above 6.8%. Watch whether closings rebound toward the 40-plus range seen in June — if they don't, expect price reductions to become more common than the 10 seen in August.
Watch for
If new listings keep arriving near July and August's pace of 70-plus a month while closings stay near 24-33, the months-of-supply figure will likely keep climbing past where it sits now, pushing more sellers toward price reductions like the 10 already taken in August.
"Salem's inventory keeps building while August's closings thin out."
Common questions about Salem this month
Is Salem a buyer's or seller's market in August 2026? ▾
Buyers have more leverage than they've had since spring. Active listings reached 260 against just 24 closings, and the sale-to-list ratio sits at 99.96%, meaning most homes are selling close to but not above asking. Sellers who need to move should expect more negotiation than they saw in May or June.
Why did Salem home sales drop so much in August? ▾
Only 24 homes closed in August, down from 33 in July and well below the 42-sale average over the past year. Rising mortgage rates, now at 6.875% and up from 6.16% in February, are part of the story, and rising inventory (260 active listings) means buyers have less urgency to act fast.
How much has Salem's inventory grown this year? ▾
Active listings climbed from 153 in May to 167 in June, 217 in July, and 260 in August. That's the highest reading of the past six months, driven by new listings that stayed above 60 a month all summer while closings slowed.
What does a higher mortgage rate mean for buying a home in Salem right now? ▾
On a $516,000 median-priced home with 20% down, the monthly principal-and-interest payment is $2,712 at today's 6.875% rate, up $34 from 30 days ago and $194 above what it would have been in February when rates averaged 6.16%. That's a meaningful add to the monthly cost of buying compared to earlier this year.
Which Salem neighborhoods are selling this month? ▾
Viridian led again with 7 closings at a median $529,860, followed by Salem Fields with 3 sales that moved in 0 median days on market. Valley View and Arrowhead Springs each posted 2 sales, rounding out August's small closing pool.
Number of Listings
Active inventory · new listings · sold per month
Listing Prices
Active median list · new median list · sold median sale
Absorption Rate
Months of supply — active inventory ÷ monthly sold rate
Sale-to-List Ratio
Close price ÷ list price — buyer/seller leverage
Days on Market
Median days from listing to under contract
Price Volume
Total dollar volume — active · new · sold per month
August 2026 cohort breakdown
Distribution of what closed last month — by price band, sale-vs-list outcome, and top subdivisions.
How sales priced vs asking
24 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 25 · 25th percentile 5 · 75th percentile 65
Needed a price change
Sold listings that had a recorded price change before close
10 of 24 sold homes had at least one price change while listed. Lower = sellers are pricing right the first time.
Sales by price band
Closed-price bucket → sold count and median days to contract
Top subdivisions this month
Ranked by closed count
- 1. Viridian 7 sold · $530K · 31d
- 2. Salem Fields 3 sold · $415K · 0d
- 3. Valley View 2 sold · $862K · 61d
- 4. Arrowhead Springs 2 sold · $451K · 83d
- 5. Moonlight Village 2 sold · $444K · 0d
August 2026 by property type
How each housing type performed last month — 24 closings total across subtypes.
Summary Statistics
| Metric | Aug-26 | Aug-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 24 | 33 | -27.27% | 312 | 272 | +14.71% |
| Median Sale Price | $516,080 | $491,990 | +4.90% | $563,591 | $491,809 | +14.60% |
| Median DOM | 25 | 28 | -10.71% | 34 | 28 | +21.43% |
| Sale-to-List Ratio | 99.96% | 98.69% | +1.29% | 100.21% | 99.58% | +0.63% |
Past months
Browse historical Salem reports — each month's snapshot stays at its own permanent URL.
Sources: UtahRealEstate.com and the Washington County Board of Realtors, aggregated by Best Utah Real Estate. Sale-to-list ratio compares closing price to the final list price (post-reduction). Absorption rate = active inventory ÷ monthly sold rate.