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
May 2026 · Market Analysis
Salem closings moved twice as fast in May — but rising rates are quietly raising the cost of entry
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Homes in Salem closed faster in May 2026 than in any month since at least last winter: the median days on market fell to 16, down from 32 in April and 30 in March, and well below the 28 days recorded in May 2025. That acceleration came alongside 51 closings — up from 43 in April and 10% above May 2025's 46 — and a median sale price of $579,000, a $108,189 increase from a year ago. The speed story is real, but it's concentrated in the $400K–$700K range, where Viridian and Arrowhead Springs new construction is moving in days, not weeks.
Market pulse
Median days on market in Salem has been volatile over the past six months: it peaked at 73 days in January 2026, fell sharply to 25 in February, crept back up to 30 in March and 32 in April, then dropped to 16 in May — the fastest pace in that stretch. The $400K–$700K price band is driving that speed, with a median of just 10 days on market in May; by contrast, homes above $700K took a median of 42 days, and the four Moonlight Village closings in May averaged 232 days — a reminder that the upper end of Salem's market still carries significant wait time. Active inventory reached 224 homes in May, up from 208 in April and 187 in March, while the sale-to-list ratio slipped to 99.84% — the first reading below 100% since February — and 22 of 51 closings came in below list price, compared to 13 of 43 in April.
Mortgage context
The 30-year fixed rate has climbed to 6.75% — up 0.25 percentage points from 6.50% thirty days ago and 0.56 percentage points above February's monthly average of 6.19%, which was the softest rate of the past seven months. That trajectory matters in Salem, where the median home price has moved above $575,000: buyers who were underwriting deals in February are now looking at meaningfully higher monthly costs, and some who stretched to qualify at the February rate may find themselves just outside the threshold today. FHA and VA options at 6.25% are providing a partial offset for qualifying buyers, but jumbo financing at 7.25% is putting real pressure on the over-$700K segment.
Payment math
On a median-priced home here — about $579,000 with 20% down — the monthly principal-and-interest payment lands at $3,004 at 6.75% — $77 more than 30 days ago at 6.50%, and $170 above the February low when rates averaged 6.19% and the payment would have been $2,834.
If you're buying
Target homes in the $400K–$700K band that have been sitting 45 days or more — the sale-to-list ratio on slower-moving inventory in Salem is running closer to 97–98%, and with 22 of May's 51 closings closing below list price, there is real room to negotiate on anything that didn't move in the first two weeks. In Moonlight Village and the upper-end resale segment, where median days on market ran into the hundreds in May, sellers have already demonstrated patience — use that as leverage and ask for rate buydowns or closing cost contributions rather than chasing the list price.
If you're selling
If your home is in the Viridian or Arrowhead Springs corridor and priced between $450K and $600K, May's data supports a confident list — that band is clearing in about 10 days and the competition from new construction is actually validating price points rather than undercutting them. Above $700K, price carefully against what similar homes in Salem Fields and Garretts Place actually closed for in the past 60 days, not what they were listed at — the jumbo rate at 7.25% is compressing the buyer pool at that level, and homes that opened too high in April and May are still sitting.
Outlook
Over the next 60–90 days, Salem's inventory will likely continue building as new listings from the spring permitting cycle come to market — 68 new listings arrived in both April and May, and that pace typically holds through June before easing in July. If the 30-year rate stays near 6.75% or moves higher, expect the sale-to-list ratio to drift further below 100% and days on market to tick back up from May's 16-day low, particularly in the over-$700K segment where jumbo financing is already a constraint. Buyers priced out of Lehi and Saratoga Springs at current rates may continue to look at Salem's $400K–$600K new-construction options as a relative value, which should keep that band competitive through summer.
Watch for
If the 30-year fixed rate crosses 7.00%, expect the over-$700K segment in Salem — where jumbo financing already sits at 7.25% — to see days on market stretch past 90 and the sale-to-list ratio fall below 97% on resale homes.
"Salem's fastest closings in months collide with the steepest borrowing costs since last fall."
Common questions about Salem this month
Is Salem a buyer's or seller's market in May 2026? ▾
It depends on the price range. In the $400K–$700K band — where Viridian and Arrowhead Springs new construction dominates — Salem is still a seller's market, with homes clearing in about 10 days and multiple closings at or above list price. Above $700K, the picture flips: 42-day median days on market, jumbo rates at 7.25%, and several homes sitting well over 200 days suggest buyers have meaningful leverage in that segment.
Why did homes sell so much faster in May than in April? ▾
The speed jump from 32 days in April to 16 days in May is largely driven by the mix of what closed: new-construction homes in Viridian and Salem Fields — which often go under contract before they're fully finished — pulled the median down sharply. Viridian's 11 May closings had a median of just 3 days on market, and Salem Fields' 5 closings had a median of 0. Strip those out and the resale market is moving more in the 30–45 day range.
How much has the rate increase added to my monthly payment on a Salem home? ▾
At today's 6.75% rate, a median-priced $579,000 Salem home with 20% down carries a monthly principal-and-interest payment of $3,004. That's $77 more per month than 30 days ago when rates were at 6.50%, and $170 more than February's low when the rate averaged 6.19% and the payment would have been $2,834. Over a year, that February-to-now difference adds up to about $2,040.
Is Salem's inventory high or low right now? ▾
Active inventory reached 224 homes in May 2026, up from 208 in April and 187 in March — a steady climb since the December low of 139. At May's pace of 51 closings per month, it would take roughly 4.4 months to sell every home currently listed, which puts Salem in balanced-to-slightly-buyer-favoring territory overall, though the sub-$700K segment remains tighter than that figure suggests.
Should I buy new construction in Viridian or a resale home in Salem right now? ▾
Viridian new construction is moving fast — 11 closings in May at a median of 3 days and a median sale price of $549,990 — which means there's little room to negotiate on price. Resale homes in established Salem neighborhoods like Salem Park or Moonlight Village are sitting longer and closing below list more often, so buyers willing to take on a home with some age may find better terms. The trade-off is condition and customization: new construction offers warranties and modern layouts, while resale in Salem's older corridors often comes with larger lots and more established landscaping.
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 ÷ original list — buyer/seller leverage
Days on Market
Median days from listing to close
Price Volume
Total dollar volume — active · new · sold per month
May 2026 cohort breakdown
Distribution of what closed last month — by price band, sale-vs-list outcome, and top subdivisions.
How sales priced vs asking
62 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 14 · 25th percentile 0 · 75th percentile 77
Needed a price change
Sold listings that had a recorded price change before close
20 of 62 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 21 sold · $436K · 0d
- 2. Salem Fields 5 sold · $420K · 0d
- 3. Arrowhead Springs 4 sold · $504K · 8d
- 4. Moonlight Village 4 sold · $449K · 232d
- 5. Legacy Hills 2 sold · $1,438K · 293d
May 2026 by property type
How each housing type performed last month — 61 closings total across subtypes.
Summary Statistics
| Metric | May-26 | May-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 62 | 46 | +34.78% | 214 | 145 | +47.59% |
| Median Sale Price | $542,990 | $470,811 | +15.33% | $569,513 | $504,947 | +12.79% |
| Median DOM | 14 | 28 | -50.00% | 30 | 26 | +15.38% |
| Sale-to-List Ratio | 100.18% | 99.25% | +0.94% | 100.49% | 99.72% | +0.77% |
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.