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 6.79% for the week of 2025-04-03, compared to the national average of 6.64% for the same period.

    The average rate for the prior week (2025-03-27) was 6.7% and one month ago for the week of 2025-02-27, the average rate was 7.11%.

    Salem's average rate one year ago was 7.14%.

    For refis of the same type during the week of 2025-04-03, the average rate was 7.51%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-04-03 6.64%
    Salem 30 Year Fixed Rate 2025-04-03 6.79%
    Salem 30 Year Fixed Rate Refi 2025-04-03 7.51%
    Salem 15 Year Fixed Rate 2025-04-03 5.72%
    Salem 15 Year Fixed Rate Refi 2025-04-03 6.02%
    Salem 30 Year FHA 2025-04-03 6.53%
    Salem 30 Year FHA Refi 2025-04-03 6.06%
    Salem 30 Year USDA 2025-04-03 6.22%
    Salem 30 Year USDA Refi 2025-04-03 6.52%
    Salem 30 Year VA 2025-04-03 6.31%
    Salem 30 Year VA Refi 2025-04-03 6.16%
    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    The Huntington National Bank 55 6.75% $4,161
    HANCOCK COUNTY SAVINGS BANK, FSB, INC. 54 6.43% $2,322
    QUICKEN LOANS, LLC 52 6.83% $6,063
    CROSSCOUNTRY MORTGAGE, LLC 31 7.02% $6,094
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 28 7.14% $3,861
    The Farmers National Bank of Canfield 27 6.75% $3,808
    Ixonia Bank 24 7.12% $5,573
    First Commonwealth Bank 24 6.68% $3,740
    NEWREZ LLC 21 6.66% $3,877
    Seven Seventeen Credit Union 15 6.77% $4,547
    UNITED WHOLESALE MORTGAGE, LLC 13 6.80% $6,338
    First Federal Bank of the Midwest 13 7.05% $4,446
    JPMorgan Chase Bank 13 7.00% $4,857
    UNION HOME MORTGAGE CORP. 7 7.23% $5,554
    WEST PENN FINANCIAL SERVICE CENTER, INC. 7 6.73% $4,115
    Farm Credit Mid-America, ACA 6 7.00% $7,655
    Citizens Bank 6 7.00% $3,742
    KeyBank 5 6.85% $3,079
    AFFORDABLE MORTGAGE ADVISORS, LLC. 4 6.94% $4,075
    S1L, Inc. 4 6.69% $4,399
    ZILLOW HOME LOANS, LLC 4 7.06% $3,997
    Merchants Bank of Indiana 3 6.75% $3,679
    NAVY FEDERAL CREDIT UNION 3 6.04% $7,194
    U.S. Bank 3 6.62% $3,769
    PNC Bank 3 6.17% $3,739
    Wells Fargo Bank 3 6.71% $4,537
    POLARIS HOME FUNDING CORP. 3 7.04% $4,763
    Flagstar Bank, FSB 3 6.58% $6,459
    HOWARD HANNA FINANCIAL SERVICES, INC. 2 6.75% $5,432
    Mortgage Research Center, LLC 2 6.81% $4,492
    BROKER SOLUTIONS, INC. 2 7.25% $7,779
    MOVEMENT MORTGAGE, LLC 2 6.44% $7,169
    EUSTIS AND AMERICAN MORTGAGE COMPANY 2 6.69% $5,025
    Third Federal Savings and Loan Association of Cleveland 2 6.92% $148
    LIBERTY HOME MORTGAGE CORPORATION 2 7.00% $3,704
    LOANDEPOT.COM, LLC 2 6.99% $6,090
    USAA Federal Savings Bank 2 7.44% $3,488
    PREMIER LENDING, INC. 2 7.38% $5,685
    RAPID MORTGAGE COMPANY 2 7.75% $3,120
    MICHIGAN MUTUAL, INC. 2 6.81% $4,227
    RUOFF MORTGAGE COMPANY, INC. 2 6.88% $5,540
    WesBanco 2 6.50% $3,692
    Cf Bank 2 7.13% $3,788
    Discover Bank 2 6.96% $0
    Texana Bank 1 6.13% $6,434
    BAY EQUITY LLC 1 7.38% $6,961
    The State Bank and Trust Company 1 6.63% $6,405
    Bank of America 1 6.25% $2,689
    AMERISAVE MORTGAGE CORPORATION 1 6.63% $5,573
    Victorian Finance, LLC 1 6.63% $5,701
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.99% $5,243
    FREEDOM MORTGAGE CORPORATION 1 7.00% $3,650
    GUARANTEED RATE, INC. 1 7.75% $4,156
    HOMEXPRESS MORTGAGE CORP. 1 7.00% $6,049
    INTERCOASTAL MORTGAGE COMPANY 1 6.99% $2,731
    First National Bank of Pennsylvania 1 7.00% $3,209
    Kearny Bank 1 5.88% $3,623
    EMM LOANS LLC 1 6.50% $7,757
    MID AMERICA MORTGAGE, INC. 1 6.88% $6,548
    Mr. Cooper ( Nationstar Mortgage ) 1 5.38% $10,708
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.38% $7,457
    MYCUMORTGAGE, LLC 1 6.63% $3,452
    Nations Lending Corporation 1 6.13% $6,486
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.00% $5,075
    NFM, INC. 1 7.13% $7,787
    Northwest Bank 1 6.63% $1,793
    Paramount Residential Mortgage Group, Inc. 1 7.63% $9,961
    PENNYMAC LOAN SERVICES, LLC 1 6.50% $4,129
    Plains Commerce Bank 1 7.38% $6,259
    PLAZA HOME MORTGAGE, INC. 1 6.50% $6,551
    Citadel Servicing Corporation 1 9.63% $4,722
    ROYAL UNITED MORTGAGE LLC 1 6.88% $8,634
    WRIGHT-PATT CREDIT UNION, INC. 1 5.75% $2,638
    SUPERIOR FINANCIAL SOLUTIONS, LLC 1 7.00% $3,072
    TELHIO 1 6.88% $2,968

    Salem Average Closing Costs & Other Stats

    Salem, OH's 75 lenders originated 1,806 loans during 2024. The total origination value was $247,330,000, with an average loan value of $136,949.

    Salem's average closing costs are $4,523.

    The top Salem lender as defined by loan originations is The Huntington National Bank, with 55 loans originated. Their average total fees are $4,161, which is $1,839 higher than the next largest lender, HANCOCK COUNTY SAVINGS BANK, FSB, INC..

    The lowest fee Salem lenders (with over 10 loans originated) are HANCOCK COUNTY SAVINGS BANK, FSB, INC. ($2,322), First Commonwealth Bank ($3,740), The Farmers National Bank of Canfield ($3,808), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($3,861) and NEWREZ LLC ($3,877).

    The lowest rate Salem lenders (with over 10 loans originated) are HANCOCK COUNTY SAVINGS BANK, FSB, INC. (6.43%), NEWREZ LLC (6.66%), First Commonwealth Bank (6.68%), The Huntington National Bank (6.75%) and The Farmers National Bank of Canfield (6.75%).

    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 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
    The Huntington National Bank $29,845,000 $34,840,000 16.7% 14.1%
    QUICKEN LOANS, LLC $15,315,000 $20,765,000 35.6% 8.4%
    The Farmers National Bank of Canfield $11,205,000 $14,455,000 29.0% 5.8%
    CROSSCOUNTRY MORTGAGE, LLC $9,795,000 $14,200,000 45.0% 5.7%
    HANCOCK COUNTY SAVINGS BANK, FSB, INC. $13,340,000 $13,695,000 2.7% 5.5%
    Wayne Savings Community Bank $11,550,000 $12,680,000 9.8% 5.1%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $13,135,000 $12,615,000 -4.0% 5.1%
    First Federal Bank of the Midwest $27,355,000 $12,135,000 -55.6% 4.9%
    Ixonia Bank $8,500,000 $10,515,000 23.7% 4.3%
    First Commonwealth Bank $4,420,000 $7,540,000 70.6% 3.0%
    Mortgage Research Center, LLC $4,250,000 $5,655,000 33.1% 2.3%
    Citizens Bank $4,520,000 $5,275,000 16.7% 2.1%
    UNITED WHOLESALE MORTGAGE, LLC $6,105,000 $4,945,000 -19.0% 2.0%
    Seven Seventeen Credit Union $3,730,000 $4,405,000 18.1% 1.8%
    NEWREZ LLC $3,165,000 $4,010,000 26.7% 1.6%
    PNC Bank $2,875,000 $3,100,000 7.8% 1.3%
    FREEDOM MORTGAGE CORPORATION $870,000 $2,660,000 205.7% 1.1%
    JPMorgan Chase Bank $3,200,000 $2,615,000 -18.3% 1.1%
    POLARIS HOME FUNDING CORP. $1,275,000 $2,535,000 98.8% 1.0%
    WEST PENN FINANCIAL SERVICE CENTER, INC. $1,875,000 $2,420,000 29.1% 1.0%
    NAVY FEDERAL CREDIT UNION $545,000 $2,155,000 295.4% 0.9%
    Farm Credit Mid-America, ACA $1,460,000 $2,125,000 45.5% 0.9%
    Brentwood Bank $2,105,000 n/a 0.9%
    UNION HOME MORTGAGE CORP. $435,000 $1,835,000 321.8% 0.7%
    Consumers National Bank $3,735,000 $1,665,000 -55.4% 0.7%
    PENNYMAC LOAN SERVICES, LLC $750,000 $1,545,000 106.0% 0.6%
    Flagstar Bank, FSB $380,000 $1,410,000 271.1% 0.6%
    U.S. Bank $395,000 $1,400,000 254.4% 0.6%
    LIBERTY HOME MORTGAGE CORPORATION $280,000 $1,155,000 312.5% 0.5%
    HOWARD HANNA FINANCIAL SERVICES, INC. $1,250,000 $1,140,000 -8.8% 0.5%
    KeyBank $710,000 $1,105,000 55.6% 0.4%
    Third Federal Savings and Loan Association of Cleveland $785,000 $1,030,000 31.2% 0.4%
    First National Bank of Pennsylvania $1,480,000 $990,000 -33.1% 0.4%
    S1L, Inc. $970,000 n/a 0.4%
    AFFORDABLE MORTGAGE ADVISORS, LLC. $240,000 $920,000 283.3% 0.4%
    Discover Bank $380,000 $900,000 136.8% 0.4%
    VILLAGE CAPITAL MORTGAGE $895,000 n/a 0.4%
    LOANDEPOT.COM, LLC $535,000 $885,000 65.4% 0.4%
    Merchants Bank of Indiana $575,000 $795,000 38.3% 0.3%
    ZILLOW HOME LOANS, LLC $250,000 $790,000 216.0% 0.3%
    USAA Federal Savings Bank $400,000 $745,000 86.3% 0.3%
    NEW DAY FINANCIAL, LLC $1,030,000 $695,000 -32.5% 0.3%
    BROKER SOLUTIONS, INC. $415,000 $670,000 61.4% 0.3%
    Nations Lending Corporation $645,000 $665,000 3.1% 0.3%
    RAPID MORTGAGE COMPANY $1,180,000 $655,000 -44.5% 0.3%
    Equity Prime Mortgage LLC $960,000 $610,000 -36.5% 0.2%
    MICHIGAN MUTUAL, INC. $1,425,000 $605,000 -57.5% 0.2%
    Mr. Cooper ( Nationstar Mortgage ) $525,000 $595,000 13.3% 0.2%
    NATIONWIDE MORTGAGE BANKERS, INC. $335,000 $595,000 77.6% 0.2%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $545,000 n/a 0.2%
    FIRST CHOICE AMERICA COMMUNITY FEDERAL CREDIT UNION $440,000 $525,000 19.3% 0.2%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $505,000 n/a 0.2%
    TOP FLITE FINANCIAL, INC. $240,000 $500,000 108.3% 0.2%
    RUOFF MORTGAGE COMPANY, INC. $515,000 $485,000 -5.8% 0.2%
    LEADERONE FINANCIAL CORPORATION $85,000 $475,000 458.8% 0.2%
    Magnolia Bank $175,000 $475,000 171.4% 0.2%
    AMERICAN FINANCIAL RESOURCES, INC. $415,000 $465,000 12.0% 0.2%
    MUTUAL OF OMAHA MORTGAGE, INC. $255,000 $455,000 78.4% 0.2%
    Cf Bank $450,000 n/a 0.2%
    Clearview Federal Credit Union $2,045,000 $420,000 -79.5% 0.2%
    EUSTIS AND AMERICAN MORTGAGE COMPANY $420,000 n/a 0.2%
    ROYAL UNITED MORTGAGE LLC $315,000 $420,000 33.3% 0.2%
    Wells Fargo Bank $705,000 $415,000 -41.1% 0.2%
    AMERICAN FINANCIAL NETWORK, INC. $225,000 $410,000 82.2% 0.2%
    Coastal Community Bank $130,000 $390,000 200.0% 0.2%
    PENTAGON FEDERAL CREDIT UNION $385,000 n/a 0.2%
    CMG MORTGAGE, INC. $355,000 $375,000 5.6% 0.2%
    GUARANTEED RATE, INC. $745,000 $360,000 -51.7% 0.1%
    ALLIED MORTGAGE GROUP, INC. $135,000 $355,000 163.0% 0.1%
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $345,000 n/a 0.1%
    PREMIER LENDING, INC. $395,000 $340,000 -13.9% 0.1%
    AMERISAVE MORTGAGE CORPORATION $985,000 $335,000 -66.0% 0.1%
    BAY EQUITY LLC $610,000 $335,000 -45.1% 0.1%
    Figure Lending LLC $155,000 $330,000 112.9% 0.1%
    PLAZA HOME MORTGAGE, INC. $330,000 n/a 0.1%
    Bank of America $310,000 $310,000 0.0% 0.1%
    MOVEMENT MORTGAGE, LLC $310,000 n/a 0.1%
    First Federal Savings and Loan Association of Lakewood $305,000 n/a 0.1%
    ROUNDPOINT MORTGAGE SERVICING CORPORATION $305,000 n/a 0.1%
    PLANET HOME LENDING, LLC $295,000 n/a 0.1%
    Victorian Finance, LLC $390,000 $290,000 -25.6% 0.1%
    Paramount Residential Mortgage Group, Inc. $770,000 $275,000 -64.3% 0.1%
    LIMA ONE CAPITAL, LLC $270,000 n/a 0.1%
    Citadel Servicing Corporation $265,000 n/a 0.1%
    EMM LOANS LLC $155,000 $265,000 71.0% 0.1%
    MID AMERICA MORTGAGE, INC. $265,000 n/a 0.1%
    MYCUMORTGAGE, LLC $255,000 $260,000 2.0% 0.1%
    LOANPAL, LLC $255,000 n/a 0.1%
    Plains Commerce Bank $255,000 n/a 0.1%
    Sierra Pacific Mortgage Company, Inc. $255,000 n/a 0.1%
    WesBanco $365,000 $255,000 -30.1% 0.1%
    NFM, INC. $115,000 $250,000 117.4% 0.1%
    STARK FEDERAL CREDIT UNION $250,000 $240,000 -4.0% 0.1%
    CLEARPATH LENDING $235,000 n/a 0.1%
    The Federal Savings Bank $215,000 n/a 0.1%
    Fifth Third Bank $210,000 n/a 0.1%
    LAKEVIEW LOAN SERVICING, LLC $100,000 $195,000 95.0% 0.1%
    Gateway First Bank $190,000 n/a 0.1%
    ENDEAVOR CAPITAL, LLC. $185,000 n/a 0.1%
    FBC MORTGAGE, LLC $185,000 n/a 0.1%
    EVERETT FINANCIAL, INC. $75,000 $175,000 133.3% 0.1%
    Carrington Mortgage Services, LLC $405,000 $170,000 -58.0% 0.1%
    BAYSHORE MORTGAGE FUNDING, LLC $165,000 n/a 0.1%
    FIRST OHIO HOME FINANCE, INC. $165,000 n/a 0.1%
    RF Renovo Management Company, LLC $165,000 n/a 0.1%
    Texana Bank $165,000 n/a 0.1%
    The State Bank and Trust Company $165,000 n/a 0.1%
    TRIAD FINANCIAL SERVICES, INC. $165,000 n/a 0.1%
    Ally Bank $155,000 n/a 0.1%
    CANTON SCHOOL EMPLOYEES $150,000 n/a 0.1%
    ABSOLUTE HOME MORTGAGE CORPORATION $135,000 n/a 0.1%
    Kearny Bank $135,000 n/a 0.1%
    INTERCOASTAL MORTGAGE COMPANY $125,000 n/a 0.1%
    Northwest Bank $125,000 n/a 0.1%
    AMERICAN PACIFIC MORTGAGE CORPORATION $540,000 $115,000 -78.7% 0.0%
    FIRST COMMUNITY MORTGAGE, INC. $115,000 n/a 0.0%
    GVC MORTGAGE, INC. $450,000 $115,000 -74.4% 0.0%
    WRIGHT-PATT CREDIT UNION, INC. $115,000 n/a 0.0%
    ASSOCIATED SCHOOL EMPLOYEES CREDIT UNION, INC. $205,000 $110,000 -46.3% 0.0%
    HOMEXPRESS MORTGAGE CORP. $105,000 n/a 0.0%
    Waterstone Mortgage Corporation $110,000 $105,000 -4.5% 0.0%
    SUCCESS MORTGAGE PARTNERS, INC. $65,000 n/a 0.0%
    FINANCE OF AMERICA REVERSE LLC $45,000 $55,000 22.2% 0.0%
    MidFirst Bank $55,000 n/a 0.0%
    TELHIO $55,000 n/a 0.0%
    21ST MORTGAGE CORPORATION $595,000 $45,000 -92.4% 0.0%
    SUPERIOR FINANCIAL SOLUTIONS, LLC $45,000 n/a 0.0%
    SUN Federal Credit Union $35,000 n/a 0.0%
    Truliant Federal Credit Union $25,000 n/a 0.0%

    Salem's top lender by overall market share is The Huntington National Bank, with 14.1% market share. In second place, with 8.4%, is QUICKEN LOANS, LLC, having originated $20,765,000 in loans. In third place, with 5.8%, is The Farmers National Bank of Canfield, having originated $14,455,000 in loans. In fourth place, with 5.7%, is CROSSCOUNTRY MORTGAGE, LLC, having originated $14,200,000 in loans. In fifth place, with 5.5%, is HANCOCK COUNTY SAVINGS BANK, FSB, INC., having originated $13,695,000 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%) $158,218 (17.7%) 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 (1.6%) 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 $146,850 (9.4%) $196,391 (1.9%) 0.00 164
    2022-10-01 $142,000 (10.6%) $193,471 (2.8%) 0.00 159
    2022-11-01 $136,175 (4.8%) $181,054 (-9.0%) 0.00 164
    2022-12-01 $129,950 (13.0%) $180,677 (-3.1%) 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%) $239,718 (-0.5%) 0.00 127
    2023-07-01 $169,900 (5.2%) $242,582 (7.3%) 0.00 121
    2023-08-01 $182,500 (16.0%) $242,204 (12.1%) 0.00 137
    2023-09-01 $187,500 (27.7%) $240,680 (22.6%) 0.00 157
    2023-10-01 $177,475 (25.0%) $230,024 (18.9%) 0.00 181
    2023-11-01 $177,000 (30.0%) $241,210 (33.2%) 0.00 204
    2023-12-01 $169,900 (30.7%) $236,903 (31.1%) 0.00 199
    2024-01-01 $164,250 (21.8%) $242,091 (31.9%) 0.00 177
    2024-02-01 $159,925 (9.2%) $242,499 (25.4%) 0.00 173
    2024-03-01 $162,500 (6.8%) $249,621 (20.4%) 0.00 166
    2024-04-01 $174,450 (24.6%) $259,677 (43.4%) 0.00 157
    2024-05-01 $191,750 (28.1%) $260,918 (29.3%) 0.00 147
    2024-06-01 $191,950 (9.8%) $248,107 (3.5%) 0.00 154
    2024-07-01 $181,000 (6.5%) $243,002 (0.2%) 0.00 169
    2024-08-01 $180,000 (-1.4%) $238,135 (-1.7%) 0.00 178
    2024-09-01 $190,700 (1.7%) $250,244 (4.0%) 0.00 165
    2024-10-01 $189,000 (6.5%) $245,824 (6.9%) 0.00 170
    2024-11-01 $175,000 (-1.1%) $235,184 (-2.5%) 0.00 178
    2024-12-01 $175,000 (3.0%) $243,568 (2.8%) 0.00 181
    2025-01-01 $172,425 (5.0%) $243,207 (0.5%) 0.00 172
    2025-02-01 $181,200 (13.3%) $260,140 (7.3%) 0.00 166
    2025-03-01 $199,000 (22.5%) $262,087 (5.0%) 0.00 155
    Salem's median listing price for 2025-03-01 was $199,000, a difference of $36,500 (22.5%) versus the prior year and $17,800 versus the prior month.

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

    Salem's average listing price for 2025-03-01 was $262,087, a difference of $12,466 (5.0%) versus the prior year and $1,947 versus the prior month.

    For the 2025-03-01 period, Salem had 155 MLS listings, a difference of -11 listings (-7%) versus the prior month and -11 listings (-7%) 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 1,440 sqft
    2018-02-01 0 days 1,419 sqft
    2018-03-01 0 days 1,462 sqft
    2018-04-01 0 days 1,465 sqft
    2018-05-01 0 days 1,502 sqft
    2018-06-01 0 days 1,518 sqft
    2018-07-01 0 days 1,617 sqft
    2018-08-01 0 days 1,595 sqft
    2018-09-01 0 days 1,608 sqft
    2018-10-01 0 days 1,671 sqft
    2018-11-01 0 days 1,701 sqft
    2018-12-01 0 days 1,628 sqft
    2019-01-01 0 days 1,620 sqft
    2019-02-01 0 days 1,653 sqft
    2019-03-01 0 days 1,636 sqft
    2019-04-01 0 days 1,662 sqft
    2019-05-01 0 days 1,564 sqft
    2019-06-01 0 days 1,620 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 1,626 sqft
    2019-11-01 0 days 1,604 sqft
    2019-12-01 0 days 1,602 sqft
    2020-01-01 0 days 1,589 sqft
    2020-02-01 0 days 1,556 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 1,560 sqft
    2020-10-01 0 days 1,594 sqft
    2020-11-01 0 days 1,608 sqft
    2020-12-01 0 days 1,537 sqft
    2021-01-01 0 days 1,577 sqft
    2021-02-01 0 days 1,492 sqft
    2021-03-01 0 days 1,575 sqft
    2021-04-01 0 days 1,608 sqft
    2021-05-01 0 days 1,575 sqft
    2021-06-01 0 days 1,524 sqft
    2021-07-01 0 days 1,574 sqft
    2021-08-01 0 days 1,593 sqft
    2021-09-01 0 days 1,559 sqft
    2021-10-01 0 days 1,513 sqft
    2021-11-01 0 days 1,511 sqft
    2021-12-01 0 days 1,492 sqft
    2022-01-01 0 days 1,469 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 1,540 sqft
    2022-06-01 0 days 1,533 sqft
    2022-07-01 0 days 1,515 sqft
    2022-08-01 0 days 1,491 sqft
    2022-09-01 0 days 1,461 sqft
    2022-10-01 0 days 1,446 sqft
    2022-11-01 0 days 1,417 sqft
    2022-12-01 0 days 1,445 sqft
    2023-01-01 0 days 1,471 sqft
    2023-02-01 0 days 1,488 sqft
    2023-03-01 0 days 1,529 sqft
    2023-04-01 0 days 1,470 sqft
    2023-05-01 0 days 1,482 sqft
    2023-06-01 0 days 1,532 sqft
    2023-07-01 0 days 1,582 sqft
    2023-08-01 0 days 1,613 sqft
    2023-09-01 0 days 1,600 sqft
    2023-10-01 0 days 1,516 sqft
    2023-11-01 0 days 1,545 sqft
    2023-12-01 0 days 1,539 sqft
    2024-01-01 0 days 1,522 sqft
    2024-02-01 0 days 1,529 sqft
    2024-03-01 0 days 1,500 sqft
    2024-04-01 0 days 1,567 sqft
    2024-05-01 0 days 1,580 sqft
    2024-06-01 0 days 1,560 sqft
    2024-07-01 0 days 1,545 sqft
    2024-08-01 0 days 1,556 sqft
    2024-09-01 0 days 1,577 sqft
    2024-10-01 0 days 1,555 sqft
    2024-11-01 0 days 1,556 sqft
    2024-12-01 0 days 1,654 sqft
    2025-01-01 0 days 1,651 sqft
    2025-02-01 0 days 1,667 sqft
    2025-03-01 0 days 1,664 sqft
    Salem's median listing age (time on market) for 2025-03-01 was 0 days.

    Salem's median square footage for active listings during the 2025-03-01 period was 1,664 sqft. One year prior, the average listing was 1,500 sqft.

    Salem, OH Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 807 $142,055,000 $176,029
    Home Improvement 298 $23,060,000 $77,383
    Refi 254 $35,650,000 $140,354
    Cash Out Refi 251 $31,665,000 $126,155
    Other 196 $14,900,000 $76,020

    Salem's most frequently cited loan purpose was Home Purchase, with 807 originations. The 2nd most popular reason was Home Improvement, with 298 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 648 $104,030,000 $160,540
    Over 8% 490 $39,620,000 $80,857
    7-8% 366 $51,500,000 $140,710
    5-6% 140 $28,000,000 $200,000
    3-4% 34 $2,440,000 $71,765
    4-5% 17 $4,275,000 $251,471
    <2.5% 6 $30,000 $5,000
    2.5-3% 1 $305,000 $305,000

    During 2024, Salem's most frequently originated rate bucket was 6-7%, with 648 originations.

    Loan Sizing (Salem, OH MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 785 $44,945,000 $57,255
    $100k-200k 661 $94,025,000 $142,247
    $200k-400k 315 $81,845,000 $259,825
    $400k-600k 37 $17,615,000 $476,081
    $600k-1000k 6 $4,540,000 $756,667
    $Over $1MM 2 $4,360,000 $2,180,000

    Salem's loan sizing saw the bucket of loans from $100,000 or less with 785 originations, totaling $44,945,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 619 $111,905,000 $180,784
    60-80% 316 $52,170,000 $165,095
    20-40% 312 $22,390,000 $71,763
    40-60% 220 $27,460,000 $124,818
    Under 20% 207 $8,085,000 $39,058
    Over 100% 18 $4,090,000 $227,222

    Salem's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 619 originations, totaling $111,905,000 in origination value.