Salem Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Salem averaged 7.19% for the week of 2023-09-21, compared to the national average of 7.19% for the same period.

    The average rate for the prior week (2023-09-14) was 7.18% and one month ago for the week of 2023-08-17, the average rate was 6.99%.

    Salem's average rate one year ago was 5.92%.

    For refis of the same type during the week of 2023-09-21, the average rate was 6.64%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-09-21 7.19%
    Salem 30 Year Fixed Rate 2023-09-21 7.19%
    Salem 30 Year Fixed Rate Refi 2023-09-21 6.64%
    Salem 15 Year Fixed Rate 2023-09-21 6.44%
    Salem 15 Year Fixed Rate Refi 2023-09-21 6.02%
    Salem 30 Year FHA 2023-09-21 6.56%
    Salem 30 Year FHA Refi 2023-09-21 6.94%
    Salem 30 Year USDA 2023-09-21 6.86%
    Salem 30 Year USDA Refi 2023-09-21 7.02%
    Salem 30 Year VA 2023-09-21 6.78%
    Salem 30 Year VA Refi 2023-09-21 6.92%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Salem, OH.

    Salem Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Salem, OH market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    HANCOCK COUNTY SAVINGS BANK, FSB, INC. 88 4.24% $1,924
    The Huntington National Bank 69 4.94% $3,539
    QUICKEN LOANS, LLC 57 5.15% $5,391
    The Farmers National Bank of Canfield 39 5.11% $4,086
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 36 5.60% $3,418
    CROSSCOUNTRY MORTGAGE, LLC 24 5.97% $6,244
    First Federal Bank of the Midwest 23 4.66% $3,845
    JPMorgan Chase Bank 23 4.93% $4,085
    Waterstone Mortgage Corporation 16 5.60% $5,377
    First Commonwealth Bank 15 4.61% $3,123
    NEWREZ LLC 13 5.33% $3,351
    AMERIFIRST FINANCIAL CORPORATION 13 4.62% $6,575
    Seven Seventeen Credit Union 13 4.96% $3,454
    WEST PENN FINANCIAL SERVICE CENTER, INC. 9 4.99% $4,757
    HOWARD HANNA FINANCIAL SERVICES, INC. 8 5.27% $3,933
    GUARANTEED RATE, INC. 7 6.31% $3,916
    Citizens Bank 7 4.89% $5,255
    UNITED WHOLESALE MORTGAGE, LLC 7 4.71% $5,429
    Merchants Bank of Indiana 6 4.04% $3,398
    U.S. Bank 6 4.08% $3,348
    RAPID MORTGAGE COMPANY 6 5.31% $5,786
    HOMESIDE FINANCIAL, LLC 5 3.95% $4,683
    Wells Fargo Bank 5 5.33% $3,877
    Mr. Cooper ( Nationstar Mortgage ) 5 5.07% $6,090
    Farm Credit Mid-America, ACA 4 4.95% $7,019
    ROYAL UNITED MORTGAGE LLC 4 6.81% $5,725
    LOANDEPOT.COM, LLC 4 5.28% $7,815
    Mortgage Research Center, LLC 4 4.50% $2,306
    KeyBank 4 5.13% $4,217
    AMERISAVE MORTGAGE CORPORATION 4 5.03% $6,090
    EQUITY RESOURCES, INC. 3 5.25% $5,611
    NAVY FEDERAL CREDIT UNION 3 5.13% $4,467
    Cf Bank 3 5.38% $1,884
    RESIDENTIAL BANCORP 3 5.92% $6,040
    RUOFF MORTGAGE COMPANY, INC. 3 5.08% $2,628
    FREEDOM MORTGAGE CORPORATION 3 4.96% $4,013
    The Commercial and Savings Bank of Millersburg Ohio 3 5.20% $2,400
    The Park National Bank 3 4.58% $3,580
    CALIBER HOME LOANS, INC. 3 3.77% $4,479
    EUSTIS AND AMERICAN MORTGAGE COMPANY 3 4.92% $4,153
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 5.56% $4,657
    Westfield Bank, FSB 2 4.25% $3,194
    LAKEVIEW LOAN SERVICING, LLC 2 5.88% $7,992
    UNION HOME MORTGAGE CORP. 2 5.63% $5,794
    M&T Bank 2 4.44% $5,588
    Dollar Bank, Federal Savings Bank 2 3.69% $5,119
    MICHIGAN MUTUAL, INC. 2 5.94% $5,013
    First National Bank of Pennsylvania 2 5.31% $3,935
    POLARIS HOME FUNDING CORP. 2 5.63% $4,851
    PNC Bank 2 6.56% $3,724
    NATIONWIDE MORTGAGE BANKERS, INC. 2 4.88% $3,829
    Nations Lending Corporation 2 4.56% $5,798
    ZILLOW HOME LOANS, LLC 1 3.63% $4,157
    ANGEL OAK MORTGAGE SOLUTIONS LLC 1 7.25% $10,039
    Bank of America 1 5.25% $3,170
    Bank of England 1 5.50% $6,674
    Beeline Loans, Inc. 1 2.63% $7,208
    BETTER MORTGAGE CORPORATION 1 6.50% $3,005
    BROKER SOLUTIONS, INC. 1 6.13% $4,481
    CANTON SCHOOL EMPLOYEES 1 4.50% $3,078
    CARDINAL CREDIT UNION, INC. 1 3.33% $3,498
    CARDINAL FINANCIAL 1 3.88% $5,696
    Carrington Mortgage Services, LLC 1 5.50% $4,929
    DELMAR FINANCIAL COMPANY 1 4.63% $3,329
    ENDEAVOR CAPITAL, LLC. 1 7.50% $7,042
    FEDERATED MORTGAGE CORP. 1 6.50% $4,207
    First Federal Savings and Loan Association of Lakewood 1 4.35% $3,154
    First Financial Bank 1 5.00% $3,010
    First National Bank of America 1 10.00% $5,106
    FIRST OHIO HOME FINANCE, INC. 1 7.13% $2,000
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.38% $5,725
    GSF Mortgage Corporation 1 6.75% $3,185
    Ixonia Bank 1 3.75% $4,485
    LOANPAL, LLC 1 5.88% $11,876
    MID AMERICA MORTGAGE, INC. 1 6.38% $5,629
    Morgan Stanley Private Bank 1 4.10% $3,074
    Ohio Catholic Federal Credit Union 1 6.75% $4,764
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 7.13% $7,014
    PENNYMAC LOAN SERVICES, LLC 1 6.13% $5,111
    PHH Mortgage Corporation 1 4.50% $4,059
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.13% $6,530
    PROVIDENT FUNDING ASSOCIATES, L.P. 1 6.75% $2,980
    Quontic Bank 1 6.50% $6,154
    STEARNS LENDING, LLC 1 4.63% $4,924
    Strong Home Mortgage, LLC 1 3.25% $4,864
    TELHIO 1 4.88% $3,940
    Union Savings Bank 1 4.50% $1,090
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 7.25% $8,030
    VAN DYK MORTGAGE CORPORATION 1 3.25% $3,712
    Victorian Finance, LLC 1 4.63% $4,673
    WesBanco 1 3.75% $6,133

    Salem Average Closing Costs & Other Stats

    Salem, OH's 91 lenders originated 2,342 loans during 2022. The total origination value was $304,210,000, with an average loan value of $129,893.

    Salem's average closing costs are $4,197.

    The top Salem lender as defined by loan originations is HANCOCK COUNTY SAVINGS BANK, FSB, INC., with 88 loans originated. Their average total fees are $1,924, which is $1,614 lower than the next largest lender, The Huntington National Bank.

    The lowest fee Salem lenders (with over 10 loans originated) are HANCOCK COUNTY SAVINGS BANK, FSB, INC. ($1,924), First Commonwealth Bank ($3,123), NEWREZ LLC ($3,351), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($3,418) and Seven Seventeen Credit Union ($3,454).

    The lowest rate Salem lenders (with over 10 loans originated) are HANCOCK COUNTY SAVINGS BANK, FSB, INC. (4.24%), First Commonwealth Bank (4.61%), AMERIFIRST FINANCIAL CORPORATION (4.62%), First Federal Bank of the Midwest (4.66%) and JPMorgan Chase Bank (4.93%).

    Salem, OH Mortgage Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    The Huntington National Bank $53,380,000 $41,525,000 -22.2% 13.7%
    First Federal Bank of the Midwest $30,095,000 $22,765,000 -24.4% 7.5%
    QUICKEN LOANS, LLC $44,840,000 $19,985,000 -55.4% 6.6%
    The Farmers National Bank of Canfield $22,430,000 $19,670,000 -12.3% 6.5%
    HANCOCK COUNTY SAVINGS BANK, FSB, INC. $18,635,000 $19,625,000 5.3% 6.5%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $19,645,000 $17,825,000 -9.3% 5.9%
    Wayne Savings Community Bank $5,425,000 $10,585,000 95.1% 3.5%
    Citizens Bank $6,425,000 $7,925,000 23.3% 2.6%
    WesBanco Bank, Inc. $1,750,000 $7,605,000 334.6% 2.5%
    CROSSCOUNTRY MORTGAGE, LLC $4,295,000 $7,545,000 75.7% 2.5%
    First Commonwealth Bank $9,810,000 $6,905,000 -29.6% 2.3%
    Seven Seventeen Credit Union $8,035,000 $6,095,000 -24.1% 2.0%
    PNC Bank $5,420,000 $5,785,000 6.7% 1.9%
    Waterstone Mortgage Corporation $8,145,000 $5,430,000 -33.3% 1.8%
    Mortgage Research Center, LLC $6,760,000 $5,180,000 -23.4% 1.7%
    WEST PENN FINANCIAL SERVICE CENTER, INC. $2,520,000 $3,990,000 58.3% 1.3%
    AMERIFIRST FINANCIAL CORPORATION $8,780,000 $3,875,000 -55.9% 1.3%
    JPMorgan Chase Bank $11,345,000 $3,705,000 -67.3% 1.2%
    NEWREZ LLC $3,535,000 $3,305,000 -6.5% 1.1%
    UNITED WHOLESALE MORTGAGE, LLC $2,895,000 $2,965,000 2.4% 1.0%
    LOANDEPOT.COM, LLC $6,225,000 $2,630,000 -57.8% 0.9%
    RAPID MORTGAGE COMPANY $1,795,000 $2,365,000 31.8% 0.8%
    GUARANTEED RATE, INC. $1,830,000 $2,325,000 27.0% 0.8%
    Farm Credit Mid-America, ACA $4,435,000 $2,245,000 -49.4% 0.7%
    FREEDOM MORTGAGE CORPORATION $8,580,000 $2,240,000 -73.9% 0.7%
    Clearview Federal Credit Union $1,160,000 $2,120,000 82.8% 0.7%
    Mr. Cooper ( Nationstar Mortgage ) $2,395,000 $2,110,000 -11.9% 0.7%
    CALIBER HOME LOANS, INC. $2,525,000 $2,075,000 -17.8% 0.7%
    KeyBank $6,845,000 $2,010,000 -70.6% 0.7%
    HOWARD HANNA FINANCIAL SERVICES, INC. $5,935,000 $1,720,000 -71.0% 0.6%
    AMERISAVE MORTGAGE CORPORATION $4,765,000 $1,685,000 -64.6% 0.6%
    Consumers National Bank $6,535,000 $1,630,000 -75.1% 0.5%
    EUSTIS AND AMERICAN MORTGAGE COMPANY $1,615,000 n/a 0.5%
    NAVY FEDERAL CREDIT UNION $3,270,000 $1,505,000 -54.0% 0.5%
    U.S. Bank $2,280,000 $1,495,000 -34.4% 0.5%
    First National Bank of Pennsylvania $1,350,000 $1,490,000 10.4% 0.5%
    Merchants Bank of Indiana $2,830,000 $1,340,000 -52.7% 0.4%
    POLARIS HOME FUNDING CORP. $2,055,000 $1,205,000 -41.4% 0.4%
    EQUITY RESOURCES, INC. $1,280,000 $1,180,000 -7.8% 0.4%
    PENNYMAC LOAN SERVICES, LLC $3,610,000 $1,175,000 -67.5% 0.4%
    Dollar Bank, Federal Savings Bank $245,000 $1,145,000 367.3% 0.4%
    HOMESIDE FINANCIAL, LLC $5,060,000 $1,125,000 -77.8% 0.4%
    Nations Lending Corporation $2,505,000 $1,090,000 -56.5% 0.4%
    BROKER SOLUTIONS, INC. $2,300,000 $1,020,000 -55.7% 0.3%
    LAKEVIEW LOAN SERVICING, LLC $3,700,000 $995,000 -73.1% 0.3%
    Wells Fargo Bank $3,790,000 $985,000 -74.0% 0.3%
    NEW DAY FINANCIAL, LLC $1,340,000 $970,000 -27.6% 0.3%
    UNION HOME MORTGAGE CORP. $1,875,000 $965,000 -48.5% 0.3%
    Fifth Third Bank $765,000 $915,000 19.6% 0.3%
    Westfield Bank, FSB $905,000 n/a 0.3%
    USAA Federal Savings Bank $1,190,000 $880,000 -26.1% 0.3%
    AMERICAN PACIFIC MORTGAGE CORPORATION $850,000 n/a 0.3%
    Ixonia Bank $2,980,000 $845,000 -71.6% 0.3%
    MICHIGAN MUTUAL, INC. $260,000 $765,000 194.2% 0.3%
    ASSOCIATED SCHOOL EMPLOYEES CREDIT UNION, INC. $200,000 $750,000 275.0% 0.2%
    CANTON SCHOOL EMPLOYEES $640,000 $730,000 14.1% 0.2%
    Portage Community Bank $495,000 $685,000 38.4% 0.2%
    Carrington Mortgage Services, LLC $1,895,000 $675,000 -64.4% 0.2%
    S&T Bank $655,000 n/a 0.2%
    TOP FLITE FINANCIAL, INC. $610,000 $650,000 6.6% 0.2%
    RUOFF MORTGAGE COMPANY, INC. $1,890,000 $635,000 -66.4% 0.2%
    LIBERTY HOME MORTGAGE CORPORATION $1,770,000 $630,000 -64.4% 0.2%
    The Park National Bank $260,000 $620,000 138.5% 0.2%
    RESIDENTIAL BANCORP. $165,000 $595,000 260.6% 0.2%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $1,680,000 $585,000 -65.2% 0.2%
    Cf Bank $820,000 $585,000 -28.7% 0.2%
    ROYAL UNITED MORTGAGE LLC $1,100,000 $585,000 -46.8% 0.2%
    LOANPAL, LLC $175,000 $580,000 231.4% 0.2%
    Morgan Stanley Private Bank $565,000 n/a 0.2%
    Third Federal Savings and Loan Association of Cleveland $1,180,000 $555,000 -53.0% 0.2%
    MID AMERICA MORTGAGE, INC. $265,000 $545,000 105.7% 0.2%
    The Commercial and Savings Bank of Millersburg Ohio $365,000 $540,000 47.9% 0.2%
    VILLAGE CAPITAL MORTGAGE $1,590,000 $535,000 -66.4% 0.2%
    ENDEAVOR CAPITAL, LLC. $525,000 n/a 0.2%
    MYCUMORTGAGE, LLC $330,000 $450,000 36.4% 0.1%
    FIRST OHIO HOME FINANCE, INC. $1,565,000 $420,000 -73.2% 0.1%
    BETTER MORTGAGE CORPORATION $1,505,000 $415,000 -72.4% 0.1%
    GENEVA FINANCIAL, LLC $415,000 n/a 0.1%
    CARDINAL CREDIT UNION, INC. $405,000 n/a 0.1%
    First Financial Bank $405,000 n/a 0.1%
    Bank of England $365,000 $400,000 9.6% 0.1%
    Community Bank $265,000 $395,000 49.1% 0.1%
    AMERICAN FINANCIAL RESOURCES, INC. $125,000 $385,000 208.0% 0.1%
    GSF Mortgage Corporation $375,000 n/a 0.1%
    MUTUAL OF OMAHA MORTGAGE, INC. $475,000 $365,000 -23.2% 0.1%
    The Federal Savings Bank $745,000 $365,000 -51.0% 0.1%
    Figure Lending LLC $180,000 $355,000 97.2% 0.1%
    AMERICAN FINANCING CORPORATION $520,000 $350,000 -32.7% 0.1%
    Beeline Loans, Inc. $335,000 n/a 0.1%
    DAS Acquisition Company, LLC $590,000 $335,000 -43.2% 0.1%
    M&T Bank $725,000 $335,000 -53.8% 0.1%
    RELIANCE FIRST CAPITAL, LLC $490,000 $330,000 -32.7% 0.1%
    VAN DYK MORTGAGE CORPORATION $325,000 n/a 0.1%
    AMCAP MORTGAGE, LTD. $240,000 $305,000 27.1% 0.1%
    MORTGAGE ACCESS CORP. $305,000 n/a 0.1%
    PACIFIC RESIDENTIAL MORTGAGE, LLC $305,000 n/a 0.1%
    Strong Home Mortgage, LLC $500,000 $305,000 -39.0% 0.1%
    TELHIO $305,000 n/a 0.1%
    AMERICAN ADVISORS GROUP $210,000 $300,000 42.9% 0.1%
    PHH Mortgage Corporation $230,000 $300,000 30.4% 0.1%
    SUN WEST MORTGAGE COMPANY, INC. $1,180,000 $300,000 -74.6% 0.1%
    SPRING EQ, LLC $295,000 n/a 0.1%
    DEVELOPER'S MORTGAGE COMPANY $135,000 $290,000 114.8% 0.1%
    Flagstar Bank, FSB $335,000 $285,000 -14.9% 0.1%
    NATIONS DIRECT MORTGAGE, LLC $375,000 $285,000 -24.0% 0.1%
    Victorian Finance, LLC $1,455,000 $280,000 -80.8% 0.1%
    FIRST CHOICE AMERICA COMMUNITY FEDERAL CREDIT UNION $350,000 $265,000 -24.3% 0.1%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $95,000 $255,000 168.4% 0.1%
    Bank of America $340,000 $250,000 -26.5% 0.1%
    VANDERBILT MORTGAGE AND FINANCE, INC. $275,000 $250,000 -9.1% 0.1%
    American Airlines Federal Credit Union $245,000 n/a 0.1%
    TRIAD FINANCIAL SERVICES, INC. $100,000 $245,000 145.0% 0.1%
    NATIONWIDE MORTGAGE BANKERS, INC. $1,400,000 $230,000 -83.6% 0.1%
    Northpointe Bank $115,000 $220,000 91.3% 0.1%
    DELMAR FINANCIAL COMPANY $215,000 n/a 0.1%
    MORIA DEVELOPMENT, INC. $650,000 $215,000 -66.9% 0.1%
    ZILLOW HOME LOANS, LLC $215,000 n/a 0.1%
    PLANET HOME LENDING, LLC $385,000 $210,000 -45.5% 0.1%
    LEADERONE FINANCIAL CORPORATION $205,000 n/a 0.1%
    HOME POINT FINANCIAL CORPORATION $800,000 $200,000 -75.0% 0.1%
    Transportation Federal Credit Union $190,000 n/a 0.1%
    EVERETT FINANCIAL, INC. $185,000 n/a 0.1%
    Community One Credit Union of Ohio, Inc $175,000 n/a 0.1%
    ANGEL OAK MORTGAGE SOLUTIONS LLC $165,000 n/a 0.1%
    PROVIDENT FUNDING ASSOCIATES, L.P. $165,000 n/a 0.1%
    Discover Bank $215,000 $155,000 -27.9% 0.1%
    FEDERATED MORTGAGE CORP. $155,000 n/a 0.1%
    LIMA ONE CAPITAL, LLC $155,000 n/a 0.1%
    Lakeview Community Capital, LLC $275,000 $145,000 -47.3% 0.0%
    Paramount Residential Mortgage Group, Inc. $155,000 $145,000 -6.5% 0.0%
    The Richwood Banking Company $145,000 n/a 0.0%
    Union Savings Bank $145,000 n/a 0.0%
    SOUTHWEST STAGE FUNDING, LLC $135,000 n/a 0.0%
    MOVEMENT MORTGAGE, LLC $130,000 n/a 0.0%
    Barrington Bank & Trust Company, N.A. $540,000 $125,000 -76.9% 0.0%
    FINANCE OF AMERICA REVERSE LLC $125,000 n/a 0.0%
    First Federal Savings Bank $125,000 n/a 0.0%
    Ohio Catholic Federal Credit Union $125,000 n/a 0.0%
    STARK FEDERAL CREDIT UNION $120,000 $125,000 4.2% 0.0%
    Summit Community Bank, Inc. $125,000 n/a 0.0%
    Quontic Bank $115,000 n/a 0.0%
    First Federal Savings and Loan Association of Lakewood $1,580,000 $105,000 -93.4% 0.0%
    Hometown Equity Mortgage, LLC $180,000 $105,000 -41.7% 0.0%
    Hometown Lenders, Inc. $105,000 n/a 0.0%
    LENDINGHOME FUNDING CORPORATION $55,000 $105,000 90.9% 0.0%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $105,000 n/a 0.0%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $105,000 n/a 0.0%
    QUORUM FEDERAL CREDIT UNION $105,000 n/a 0.0%
    UNIVERSAL 1 CREDIT UNION $105,000 n/a 0.0%
    Republic State Mortgage Co. $310,000 $95,000 -69.4% 0.0%
    STEARNS LENDING, LLC $95,000 n/a 0.0%
    First Guaranty Mortgage Corporation $1,245,000 $85,000 -93.2% 0.0%
    First National Bank of America $85,000 n/a 0.0%
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $85,000 n/a 0.0%
    21ST MORTGAGE CORPORATION $370,000 $75,000 -79.7% 0.0%
    Bronco Federal Credit Union $55,000 n/a 0.0%
    NUMARK CREDIT UNION $25,000 $55,000 120.0% 0.0%
    Home Loan Investment Bank, F.S.B. $25,000 n/a 0.0%

    Salem's top lender by overall market share is The Huntington National Bank, with 13.7% market share. In second place, with 7.5%, is First Federal Bank of the Midwest, having originated $22,765,000 in loans. In third place, with 6.6%, is QUICKEN LOANS, LLC, having originated $19,985,000 in loans. In fourth place, with 6.5%, is The Farmers National Bank of Canfield, having originated $19,670,000 in loans. In fifth place, with 6.5%, is HANCOCK COUNTY SAVINGS BANK, FSB, INC., having originated $19,625,000 in loans.

    Salem Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Salem (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $97,900 (-0.3%) $121,227 (-0.8%) 0.00 318
    2018-02-01 $99,925 (2.1%) $122,195 (-0.9%) 0.00 304
    2018-03-01 $99,700 (-0.2%) $123,924 (-1.1%) 0.00 294
    2018-04-01 $107,450 (3.8%) $128,953 (0.1%) 0.00 287
    2018-05-01 $112,575 (7.5%) $134,335 (3.3%) 0.00 299
    2018-06-01 $118,750 (18.0%) $139,077 (8.6%) 0.00 310
    2018-07-01 $119,900 (14.2%) $149,485 (11.8%) 0.00 326
    2018-08-01 $119,900 (17.9%) $155,671 (16.1%) 0.00 341
    2018-09-01 $119,900 (20.0%) $158,416 (17.8%) 0.00 339
    2018-10-01 $119,900 (14.5%) $163,467 (24.4%) 0.00 326
    2018-11-01 $120,425 (14.7%) $167,991 (30.0%) 0.00 295
    2018-12-01 $119,900 (20.0%) $164,882 (31.0%) 0.00 267
    2019-01-01 $119,900 (22.5%) $164,185 (35.4%) 0.00 250
    2019-02-01 $119,900 (20.0%) $161,943 (32.5%) 0.00 221
    2019-03-01 $121,571 (21.9%) $167,124 (34.9%) 0.00 217
    2019-04-01 $130,000 (21.0%) $171,882 (33.3%) 0.00 225
    2019-05-01 $125,000 (11.0%) $169,116 (25.9%) 0.00 236
    2019-06-01 $129,000 (8.6%) $167,387 (20.4%) 0.00 240
    2019-07-01 $123,925 (3.4%) $159,679 (6.8%) 0.00 238
    2019-08-01 $123,414 (2.9%) $159,168 (2.3%) 0.00 261
    2019-09-01 $121,184 (1.1%) $160,768 (1.5%) 0.00 276
    2019-10-01 $119,575 (-0.3%) $159,792 (-2.3%) 0.00 288
    2019-11-01 $104,950 (-12.9%) $156,772 (-6.7%) 0.00 289
    2019-12-01 $99,900 (-16.7%) $156,947 (-4.8%) 0.00 264
    2020-01-01 $99,900 (-16.7%) $154,959 (-5.6%) 0.00 248
    2020-02-01 $98,500 (-17.9%) $160,901 (-0.6%) 0.00 224
    2020-03-01 $109,450 (-10.0%) $170,203 (1.8%) 0.00 223
    2020-04-01 $109,950 (-15.4%) $176,710 (2.8%) 0.00 203
    2020-05-01 $127,500 (2.0%) $182,980 (8.2%) 0.00 196
    2020-06-01 $132,450 (2.7%) $189,206 (13.0%) 0.00 178
    2020-07-01 $137,500 (11.0%) $189,916 (18.9%) 0.00 178
    2020-08-01 $130,950 (6.1%) $193,599 (21.6%) 0.00 166
    2020-09-01 $127,000 (4.8%) $187,124 (16.4%) 0.00 153
    2020-10-01 $125,750 (5.2%) $197,288 (23.5%) 0.00 151
    2020-11-01 $127,725 (21.7%) $207,609 (32.4%) 0.00 143
    2020-12-01 $126,850 (27.0%) $202,481 (29.0%) 0.00 137
    2021-01-01 $105,450 (5.6%) $188,202 (21.5%) 0.00 118
    2021-02-01 $110,000 (11.7%) $190,962 (18.7%) 0.00 113
    2021-03-01 $119,900 (9.6%) $211,563 (24.3%) 0.00 115
    2021-04-01 $134,500 (22.3%) $217,816 (23.3%) 0.00 114
    2021-05-01 $131,000 (2.8%) $202,901 (10.9%) 0.00 120
    2021-06-01 $134,700 (1.7%) $198,662 (5.0%) 0.00 132
    2021-07-01 $133,700 (-2.8%) $193,426 (1.9%) 0.00 148
    2021-08-01 $141,250 (7.9%) $198,635 (2.6%) 0.00 171
    2021-09-01 $134,225 (5.7%) $192,708 (3.0%) 0.00 173
    2021-10-01 $128,400 (2.1%) $188,295 (-4.6%) 0.00 182
    2021-11-01 $129,900 (1.7%) $199,018 (-4.1%) 0.00 155
    2021-12-01 $115,000 (-9.3%) $186,449 (-7.9%) 0.00 140
    2022-01-01 $114,900 (9.0%) $190,787 (1.4%) 0.00 121
    2022-02-01 $122,825 (11.7%) $196,213 (2.8%) 0.00 107
    2022-03-01 $124,925 (4.2%) $188,408 (-10.9%) 0.00 105
    2022-04-01 $159,000 (18.2%) $210,817 (-3.2%) 0.00 93
    2022-05-01 $170,725 (30.3%) $233,346 (15.0%) 0.00 104
    2022-06-01 $176,225 (30.8%) $240,879 (21.3%) 0.00 111
    2022-07-01 $161,500 (20.8%) $226,126 (16.9%) 0.00 132
    2022-08-01 $157,400 (11.4%) $216,075 (8.8%) 0.00 144
    2022-09-01 $147,450 (9.9%) $197,328 (2.4%) 0.00 163
    2022-10-01 $143,500 (11.8%) $193,471 (2.8%) 0.00 160
    2022-11-01 $136,175 (4.8%) $181,054 (-9.0%) 0.00 164
    2022-12-01 $129,950 (13.0%) $182,250 (-2.3%) 0.00 152
    2023-01-01 $134,850 (17.4%) $183,558 (-3.8%) 0.00 130
    2023-02-01 $146,500 (19.3%) $193,397 (-1.4%) 0.00 108
    2023-03-01 $152,225 (21.9%) $207,385 (10.1%) 0.00 110
    2023-04-01 $140,000 (-12.0%) $181,051 (-14.1%) 0.00 114
    2023-05-01 $149,675 (-12.3%) $201,852 (-13.5%) 0.00 127
    2023-06-01 $174,900 (-0.8%) $240,671 (-0.1%) 0.00 127
    2023-07-01 $172,400 (6.8%) $244,455 (8.1%) 0.00 122
    2023-08-01 $183,125 (16.3%) $243,605 (12.7%) 0.00 138
    Salem's median listing price for 2023-08-01 was $183,125, a difference of $25,725 (16.3%) versus the prior year and $10,725 versus the prior month.

    Salem's median listing price comes in at 0% of the national average.

    Salem's average listing price for 2023-08-01 was $243,605, a difference of $27,530 (12.7%) versus the prior year and $-850 versus the prior month.

    For the 2023-08-01 period, Salem had 138 MLS listings, a difference of 16 listings (13%) versus the prior month and -6 listings (-4%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Salem (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,442 sqft
    2018-02-01 0 days 1,419 sqft
    2018-03-01 0 days 1,462 sqft
    2018-04-01 0 days 1,458 sqft
    2018-05-01 0 days 1,494 sqft
    2018-06-01 0 days 1,512 sqft
    2018-07-01 0 days 1,610 sqft
    2018-08-01 0 days 1,589 sqft
    2018-09-01 0 days 1,600 sqft
    2018-10-01 0 days 1,666 sqft
    2018-11-01 0 days 1,702 sqft
    2018-12-01 0 days 1,622 sqft
    2019-01-01 0 days 1,619 sqft
    2019-02-01 0 days 1,647 sqft
    2019-03-01 0 days 1,634 sqft
    2019-04-01 0 days 1,665 sqft
    2019-05-01 0 days 1,564 sqft
    2019-06-01 0 days 1,617 sqft
    2019-07-01 0 days 1,605 sqft
    2019-08-01 0 days 1,613 sqft
    2019-09-01 0 days 1,624 sqft
    2019-10-01 0 days 1,627 sqft
    2019-11-01 0 days 1,598 sqft
    2019-12-01 0 days 1,601 sqft
    2020-01-01 0 days 1,589 sqft
    2020-02-01 0 days 1,557 sqft
    2020-03-01 0 days 1,564 sqft
    2020-04-01 0 days 1,593 sqft
    2020-05-01 0 days 1,632 sqft
    2020-06-01 0 days 1,620 sqft
    2020-07-01 0 days 1,640 sqft
    2020-08-01 0 days 1,624 sqft
    2020-09-01 0 days 1,566 sqft
    2020-10-01 0 days 1,594 sqft
    2020-11-01 0 days 1,608 sqft
    2020-12-01 0 days 1,534 sqft
    2021-01-01 0 days 1,550 sqft
    2021-02-01 0 days 1,493 sqft
    2021-03-01 0 days 1,570 sqft
    2021-04-01 0 days 1,592 sqft
    2021-05-01 0 days 1,581 sqft
    2021-06-01 0 days 1,520 sqft
    2021-07-01 0 days 1,569 sqft
    2021-08-01 0 days 1,592 sqft
    2021-09-01 0 days 1,556 sqft
    2021-10-01 0 days 1,513 sqft
    2021-11-01 0 days 1,511 sqft
    2021-12-01 0 days 1,495 sqft
    2022-01-01 0 days 1,468 sqft
    2022-02-01 0 days 1,539 sqft
    2022-03-01 0 days 1,517 sqft
    2022-04-01 0 days 1,541 sqft
    2022-05-01 0 days 1,525 sqft
    2022-06-01 0 days 1,509 sqft
    2022-07-01 0 days 1,508 sqft
    2022-08-01 0 days 1,491 sqft
    2022-09-01 0 days 1,464 sqft
    2022-10-01 0 days 1,448 sqft
    2022-11-01 0 days 1,423 sqft
    2022-12-01 0 days 1,445 sqft
    2023-01-01 0 days 1,473 sqft
    2023-02-01 0 days 1,494 sqft
    2023-03-01 0 days 1,539 sqft
    2023-04-01 0 days 1,512 sqft
    2023-05-01 0 days 1,496 sqft
    2023-06-01 0 days 1,534 sqft
    2023-07-01 0 days 1,593 sqft
    2023-08-01 0 days 1,616 sqft
    Salem's median listing age (time on market) for 2023-08-01 was 0 days.

    Salem's median square footage for active listings during the 2023-08-01 period was 1,616 sqft. One year prior, the average listing was 1,491 sqft.

    Salem, OH Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 984 $158,550,000 $161,128
    Refi 429 $55,805,000 $130,082
    Cash Out Refi 389 $50,325,000 $129,370
    Home Improvement 379 $27,635,000 $72,916
    Other 161 $11,895,000 $73,882

    Salem's most frequently cited loan purpose was Home Purchase, with 984 originations. The 2nd most popular reason was Refi, with 429 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    3-4% 578 $75,750,000 $131,055
    5-6% 545 $69,915,000 $128,284
    4-5% 479 $67,785,000 $141,514
    6-7% 312 $41,630,000 $133,429
    2.5-3% 123 $17,465,000 $141,992
    7-8% 119 $10,815,000 $90,882
    Over 8% 62 $2,860,000 $46,129
    <2.5% 38 $4,030,000 $106,053

    During 2022, Salem's most frequently originated rate bucket was 3-4%, with 578 originations.

    Loan Sizing (Salem, OH MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 1,115 $65,415,000 $58,668
    $100k-200k 891 $125,245,000 $140,567
    $200k-400k 290 $77,060,000 $265,724
    $400k-600k 33 $15,415,000 $467,121
    $600k-1000k 8 $5,590,000 $698,750
    $Over $1MM 5 $15,485,000 $3,097,000

    Salem's loan sizing saw the bucket of loans from $100,000 or less with 1,115 originations, totaling $65,415,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 821 $131,775,000 $160,505
    60-80% 510 $82,770,000 $162,294
    20-40% 352 $23,490,000 $66,733
    40-60% 334 $38,740,000 $115,988
    Under 20% 218 $7,290,000 $33,440
    Over 100% 24 $5,570,000 $232,083

    Salem's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 821 originations, totaling $131,775,000 in origination value.