Salem Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Salem averaged 6.77% for the week of 2024-07-03, compared to the national average of 6.95% for the same period.

The average rate for the prior week (2024-06-27) was 7.08% and one month ago for the week of 2024-05-30, the average rate was 6.85%.

Salem's average rate one year ago was 6.53%.

For refis of the same type during the week of 2024-07-03, the average rate was 7.55%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-07-03 6.95%
Salem 30 Year Fixed Rate 2024-07-03 6.77%
Salem 30 Year Fixed Rate Refi 2024-07-03 7.55%
Salem 15 Year Fixed Rate 2024-07-03 6.15%
Salem 15 Year Fixed Rate Refi 2024-07-03 6.45%
Salem 30 Year FHA 2024-07-03 7.15%
Salem 30 Year FHA Refi 2024-07-03 6.72%
Salem 30 Year USDA 2024-07-03 6.54%
Salem 30 Year USDA Refi 2024-07-03 6.84%
Salem 30 Year VA 2024-07-03 6.58%
Salem 30 Year VA Refi 2024-07-03 6.48%
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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
HANCOCK COUNTY SAVINGS BANK, FSB, INC. 62 6.30% $1,989
The Huntington National Bank 61 6.87% $3,902
QUICKEN LOANS, LLC 35 6.87% $5,899
Ixonia Bank 26 7.29% $5,437
CROSSCOUNTRY MORTGAGE, LLC 25 7.19% $6,267
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 25 7.14% $4,143
The Farmers National Bank of Canfield 22 6.75% $3,834
JPMorgan Chase Bank 19 7.10% $3,327
UNITED WHOLESALE MORTGAGE, LLC 19 6.82% $6,284
NEWREZ LLC 19 6.32% $3,214
First Federal Bank of the Midwest 19 6.76% $3,624
First Commonwealth Bank 14 6.91% $3,569
Seven Seventeen Credit Union 13 6.30% $3,693
Citizens Bank 7 6.84% $4,142
Farm Credit Mid-America, ACA 6 7.40% $4,945
MICHIGAN MUTUAL, INC. 6 7.44% $7,597
GUARANTEED RATE, INC. 5 6.74% $5,025
HOWARD HANNA FINANCIAL SERVICES, INC. 5 6.43% $4,183
UNION HOME MORTGAGE CORP. 3 6.92% $6,117
RUOFF MORTGAGE COMPANY, INC. 3 6.79% $4,288
Clearview Federal Credit Union 3 6.45% $3,335
WEST PENN FINANCIAL SERVICE CENTER, INC. 3 6.21% $2,972
Bank of England 2 6.69% $6,005
GVC MORTGAGE, INC. 2 7.49% $4,483
Mortgage Research Center, LLC 2 7.06% $4,661
PNC Bank 2 6.69% $3,062
POLARIS HOME FUNDING CORP. 2 7.25% $5,046
PREMIER LENDING, INC. 2 6.88% $5,364
First National Bank of Pennsylvania 2 6.56% $3,404
MUTUAL OF OMAHA MORTGAGE, INC. 2 7.00% $5,603
Victorian Finance, LLC 2 6.25% $4,943
Wells Fargo Bank 2 6.31% $4,667
AMERISAVE MORTGAGE CORPORATION 2 7.00% $6,089
RAPID MORTGAGE COMPANY 2 7.43% $11,255
ROYAL UNITED MORTGAGE LLC 2 6.56% $6,174
BROKER SOLUTIONS, INC. 2 6.81% $5,195
CHURCHILL MORTGAGE CORPORATION 2 6.69% $5,672
Merchants Bank of Indiana 2 6.44% $2,636
The Park National Bank 1 7.50% $5,382
TOP FLITE FINANCIAL, INC. 1 7.38% $4,857
Bank of America 1 6.25% $8,761
USAA Federal Savings Bank 1 7.38% $2,955
U.S. Bank 1 8.13% $3,508
VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.75% $4,225
VERITAS FUNDING, LLC 1 7.38% $9,884
EVANSVILLE TEACHERS 1 7.75% $3,232
Equity Prime Mortgage LLC 1 6.50% $16,198
EMM LOANS LLC 1 6.88% $9,049
Florida Capital Bank 1 6.99% $2,836
Discover Bank 1 7.74% $0
KeyBank 1 6.88% $3,794
ZILLOW HOME LOANS, LLC 1 6.63% $5,682
Mr. Cooper ( Nationstar Mortgage ) 1 6.49% $7,788
NAVY FEDERAL CREDIT UNION 1 7.88% $2,244
CHEVRON 1 6.38% $7,716
NFM, INC. 1 8.25% $4,927
Old National Bank 1 7.75% $7,871
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.00% $5,378
Paramount Residential Mortgage Group, Inc. 1 6.99% $4,089
PENNYMAC LOAN SERVICES, LLC 1 6.88% $7,309
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.63% $6,490
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.50% $5,396
Carrington Mortgage Services, LLC 1 6.38% $5,601
Republic State Mortgage Co. 1 7.00% $1,007
S&T Bank 1 6.13% $3,278
STOCKTON MORTGAGE CORPORATION 1 7.38% $3,735
BAY EQUITY LLC 1 7.63% $7,978

Salem Average Closing Costs & Other Stats

Salem, OH's 67 lenders originated 1,670 loans during 2023. The total origination value was $224,020,000, with an average loan value of $134,144.

Salem's average closing costs are $4,364.

The top Salem lender as defined by loan originations is HANCOCK COUNTY SAVINGS BANK, FSB, INC., with 62 loans originated. Their average total fees are $1,989, which is $1,912 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. ($1,989), NEWREZ LLC ($3,214), JPMorgan Chase Bank ($3,327), First Commonwealth Bank ($3,569) and First Federal Bank of the Midwest ($3,624).

The lowest rate Salem lenders (with over 10 loans originated) are Seven Seventeen Credit Union (6.30%), HANCOCK COUNTY SAVINGS BANK, FSB, INC. (6.30%), NEWREZ LLC (6.32%), The Farmers National Bank of Canfield (6.75%) and First Federal Bank of the Midwest (6.76%).

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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
The Huntington National Bank $41,525,000 $29,845,000 -28.1% 13.3%
First Federal Bank of the Midwest $22,765,000 $27,355,000 20.2% 12.2%
QUICKEN LOANS, LLC $19,985,000 $15,315,000 -23.4% 6.8%
HANCOCK COUNTY SAVINGS BANK, FSB, INC. $19,625,000 $13,340,000 -32.0% 6.0%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $17,825,000 $13,135,000 -26.3% 5.9%
Wayne Savings Community Bank $10,585,000 $11,550,000 9.1% 5.2%
The Farmers National Bank of Canfield $19,670,000 $11,205,000 -43.0% 5.0%
CROSSCOUNTRY MORTGAGE, LLC $7,545,000 $9,795,000 29.8% 4.4%
Ixonia Bank $845,000 $8,500,000 905.9% 3.8%
UNITED WHOLESALE MORTGAGE, LLC $2,965,000 $6,105,000 105.9% 2.7%
Citizens Bank $7,925,000 $4,520,000 -43.0% 2.0%
First Commonwealth Bank $6,905,000 $4,420,000 -36.0% 2.0%
Mortgage Research Center, LLC $5,180,000 $4,250,000 -18.0% 1.9%
Consumers National Bank $1,630,000 $3,735,000 129.1% 1.7%
Seven Seventeen Credit Union $6,095,000 $3,730,000 -38.8% 1.7%
JPMorgan Chase Bank $3,705,000 $3,200,000 -13.6% 1.4%
NEWREZ LLC $3,305,000 $3,165,000 -4.2% 1.4%
PNC Bank $5,785,000 $2,875,000 -50.3% 1.3%
Clearview Federal Credit Union $2,120,000 $2,045,000 -3.5% 0.9%
WEST PENN FINANCIAL SERVICE CENTER, INC. $3,990,000 $1,875,000 -53.0% 0.8%
First National Bank of Pennsylvania $1,490,000 $1,480,000 -0.7% 0.7%
Farm Credit Mid-America, ACA $2,245,000 $1,460,000 -35.0% 0.7%
MICHIGAN MUTUAL, INC. $765,000 $1,425,000 86.3% 0.6%
POLARIS HOME FUNDING CORP. $1,205,000 $1,275,000 5.8% 0.6%
HOWARD HANNA FINANCIAL SERVICES, INC. $1,720,000 $1,250,000 -27.3% 0.6%
RAPID MORTGAGE COMPANY $2,365,000 $1,180,000 -50.1% 0.5%
NEW DAY FINANCIAL, LLC $970,000 $1,030,000 6.2% 0.5%
CARDINAL FINANCIAL $585,000 $1,025,000 75.2% 0.5%
AMERISAVE MORTGAGE CORPORATION $1,685,000 $985,000 -41.5% 0.4%
Equity Prime Mortgage LLC $960,000 n/a 0.4%
FREEDOM MORTGAGE CORPORATION $2,240,000 $870,000 -61.2% 0.4%
Third Federal Savings and Loan Association of Cleveland $555,000 $785,000 41.4% 0.4%
Paramount Residential Mortgage Group, Inc. $145,000 $770,000 431.0% 0.3%
PENNYMAC LOAN SERVICES, LLC $1,175,000 $750,000 -36.2% 0.3%
GUARANTEED RATE, INC. $2,325,000 $745,000 -68.0% 0.3%
KeyBank $2,010,000 $710,000 -64.7% 0.3%
Wells Fargo Bank $985,000 $705,000 -28.4% 0.3%
Portage Community Bank $685,000 $680,000 -0.7% 0.3%
Nations Lending Corporation $1,090,000 $645,000 -40.8% 0.3%
BAY EQUITY LLC $610,000 n/a 0.3%
21ST MORTGAGE CORPORATION $75,000 $595,000 693.3% 0.3%
Merchants Bank of Indiana $1,340,000 $575,000 -57.1% 0.3%
NAVY FEDERAL CREDIT UNION $1,505,000 $545,000 -63.8% 0.2%
AMERICAN PACIFIC MORTGAGE CORPORATION $850,000 $540,000 -36.5% 0.2%
LOANDEPOT.COM, LLC $2,630,000 $535,000 -79.7% 0.2%
Mr. Cooper ( Nationstar Mortgage ) $2,110,000 $525,000 -75.1% 0.2%
RUOFF MORTGAGE COMPANY, INC. $635,000 $515,000 -18.9% 0.2%
GVC MORTGAGE, INC. $450,000 n/a 0.2%
PRIMELENDING, A PLAINSCAPITAL COMPANY $105,000 $450,000 328.6% 0.2%
FIRST CHOICE AMERICA COMMUNITY FEDERAL CREDIT UNION $265,000 $440,000 66.0% 0.2%
UNION HOME MORTGAGE CORP. $965,000 $435,000 -54.9% 0.2%
AMERICAN FINANCIAL RESOURCES, INC. $385,000 $415,000 7.8% 0.2%
BROKER SOLUTIONS, INC. $1,020,000 $415,000 -59.3% 0.2%
Carrington Mortgage Services, LLC $675,000 $405,000 -40.0% 0.2%
USAA Federal Savings Bank $880,000 $400,000 -54.5% 0.2%
Old National Bank $395,000 n/a 0.2%
PREMIER LENDING, INC. $395,000 n/a 0.2%
U.S. Bank $1,495,000 $395,000 -73.6% 0.2%
Victorian Finance, LLC $280,000 $390,000 39.3% 0.2%
Discover Bank $155,000 $380,000 145.2% 0.2%
Flagstar Bank, FSB $285,000 $380,000 33.3% 0.2%
EVANSVILLE TEACHERS $370,000 n/a 0.2%
STOCKTON MORTGAGE CORPORATION $365,000 n/a 0.2%
WesBanco $7,605,000 $365,000 -95.2% 0.2%
CHURCHILL MORTGAGE CORPORATION $360,000 n/a 0.2%
CMG MORTGAGE, INC. $355,000 n/a 0.2%
DRAPER AND KRAMER MORTGAGE CORP. $350,000 n/a 0.2%
NATIONWIDE MORTGAGE BANKERS, INC. $230,000 $335,000 45.7% 0.1%
ROYAL UNITED MORTGAGE LLC $585,000 $315,000 -46.2% 0.1%
Bank of America $250,000 $310,000 24.0% 0.1%
Republic State Mortgage Co. $95,000 $310,000 226.3% 0.1%
ADVANCIAL $305,000 n/a 0.1%
The Park National Bank $620,000 $290,000 -53.2% 0.1%
CALIBER HOME LOANS, INC. $2,075,000 $285,000 -86.3% 0.1%
Bank of England $400,000 $280,000 -30.0% 0.1%
LIBERTY HOME MORTGAGE CORPORATION $630,000 $280,000 -55.6% 0.1%
Hometown Equity Mortgage, LLC $105,000 $270,000 157.1% 0.1%
MUTUAL OF OMAHA MORTGAGE, INC. $365,000 $255,000 -30.1% 0.1%
MYCUMORTGAGE, LLC $450,000 $255,000 -43.3% 0.1%
STARK FEDERAL CREDIT UNION $125,000 $250,000 100.0% 0.1%
ZILLOW HOME LOANS, LLC $215,000 $250,000 16.3% 0.1%
AFFORDABLE MORTGAGE ADVISORS, LLC. $240,000 n/a 0.1%
TOP FLITE FINANCIAL, INC. $650,000 $240,000 -63.1% 0.1%
VANDERBILT MORTGAGE AND FINANCE, INC. $250,000 $240,000 -4.0% 0.1%
Dollar Bank, Federal Savings Bank $1,145,000 $230,000 -79.9% 0.1%
AMERICAN FINANCIAL NETWORK, INC. $225,000 n/a 0.1%
CHEVRON $215,000 n/a 0.1%
PACIFIC RESIDENTIAL MORTGAGE, LLC $305,000 $215,000 -29.5% 0.1%
ASSOCIATED SCHOOL EMPLOYEES CREDIT UNION, INC. $750,000 $205,000 -72.7% 0.1%
RELIANCE FIRST CAPITAL, LLC $330,000 $195,000 -40.9% 0.1%
Magnolia Bank $175,000 n/a 0.1%
S&T Bank $655,000 $165,000 -74.8% 0.1%
VERITAS FUNDING, LLC $165,000 n/a 0.1%
AMCAP MORTGAGE, LTD. $305,000 $155,000 -49.2% 0.1%
EMM LOANS LLC $155,000 n/a 0.1%
Figure Lending LLC $355,000 $155,000 -56.3% 0.1%
Florida Capital Bank $155,000 n/a 0.1%
ALLIED MORTGAGE GROUP, INC. $135,000 n/a 0.1%
CARDINAL CREDIT UNION, INC. $405,000 $135,000 -66.7% 0.1%
GUILD MORTGAGE COMPANY $135,000 n/a 0.1%
LONGBRIDGE FINANCIAL, LLC $135,000 n/a 0.1%
Coastal Community Bank $130,000 n/a 0.1%
American Airlines Federal Credit Union $245,000 $125,000 -49.0% 0.1%
LENDINGHOME FUNDING CORPORATION $105,000 $125,000 19.0% 0.1%
AMERICAN FINANCING CORPORATION $350,000 $115,000 -67.1% 0.1%
Bank of Magnolia Company $115,000 n/a 0.1%
NFM, INC. $115,000 n/a 0.1%
Waterstone Mortgage Corporation $5,430,000 $110,000 -98.0% 0.0%
Hometown Bank $105,000 n/a 0.0%
GSF Mortgage Corporation $375,000 $100,000 -73.3% 0.0%
KEMBA FINANCIAL $100,000 n/a 0.0%
LAKEVIEW LOAN SERVICING, LLC $995,000 $100,000 -89.9% 0.0%
Home Federal Savings and Loan Association of Niles $95,000 n/a 0.0%
Unified Bank $95,000 n/a 0.0%
LEADERONE FINANCIAL CORPORATION $205,000 $85,000 -58.5% 0.0%
PRIMARY RESIDENTIAL MORTGAGE, INC. $255,000 $85,000 -66.7% 0.0%
EVERETT FINANCIAL, INC. $185,000 $75,000 -59.5% 0.0%
West-Aircomm Federal Credit Union $75,000 n/a 0.0%
Centier Bank $55,000 n/a 0.0%
FINANCE OF AMERICA REVERSE LLC $125,000 $45,000 -64.0% 0.0%
Lakeview Community Capital, LLC $145,000 $35,000 -75.9% 0.0%
The Middlefield Banking Company $25,000 n/a 0.0%

Salem's top lender by overall market share is The Huntington National Bank, with 13.3% market share. In second place, with 12.2%, is First Federal Bank of the Midwest, having originated $27,355,000 in loans. In third place, with 6.8%, is QUICKEN LOANS, LLC, having originated $15,315,000 in loans. In fourth place, with 6.0%, is HANCOCK COUNTY SAVINGS BANK, FSB, INC., having originated $13,340,000 in loans. In fifth place, with 5.9%, is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, having originated $13,135,000 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%) $166,516 (34.4%) 0.00 217
2019-04-01 $130,000 (21.0%) $171,173 (32.7%) 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 (2.2%) 0.00 223
2020-04-01 $109,950 (-15.4%) $176,710 (3.2%) 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 $126,500 (5.8%) $197,734 (23.7%) 0.00 150
2020-11-01 $129,225 (23.1%) $208,172 (32.8%) 0.00 142
2020-12-01 $127,175 (27.3%) $203,070 (29.4%) 0.00 136
2021-01-01 $105,900 (6.0%) $188,876 (21.9%) 0.00 117
2021-02-01 $110,000 (11.7%) $191,662 (19.1%) 0.00 112
2021-03-01 $121,825 (11.3%) $212,425 (24.8%) 0.00 114
2021-04-01 $135,000 (22.8%) $218,745 (23.8%) 0.00 113
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 $142,000 (8.4%) $198,922 (2.8%) 0.00 171
2021-09-01 $134,225 (5.7%) $192,708 (3.0%) 0.00 173
2021-10-01 $128,400 (1.5%) $188,295 (-4.8%) 0.00 182
2021-11-01 $129,900 (0.5%) $199,018 (-4.4%) 0.00 155
2021-12-01 $115,000 (-9.6%) $186,449 (-8.2%) 0.00 140
2022-01-01 $114,900 (8.5%) $190,787 (1.0%) 0.00 121
2022-02-01 $122,825 (11.7%) $196,213 (2.4%) 0.00 107
2022-03-01 $124,925 (2.5%) $188,408 (-11.3%) 0.00 105
2022-04-01 $159,000 (17.8%) $210,817 (-3.6%) 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 (10.9%) $216,075 (8.6%) 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%) $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 $149,450 (-12.5%) $201,319 (-13.7%) 0.00 126
2023-06-01 $174,900 (-0.8%) $240,539 (-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
2023-09-01 $188,700 (28.5%) $241,932 (23.2%) 0.00 158
2023-10-01 $177,475 (25.0%) $230,408 (19.1%) 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 (30.0%) 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 $195,000 (30.5%) $263,624 (31.0%) 0.00 147
2024-06-01 $191,950 (9.8%) $255,024 (6.0%) 0.00 154
Salem's median listing price for 2024-06-01 was $191,950, a difference of $17,050 (9.8%) versus the prior year and $-3,050 versus the prior month.

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

Salem's average listing price for 2024-06-01 was $255,024, a difference of $14,485 (6.0%) versus the prior year and $-8,600 versus the prior month.

For the 2024-06-01 period, Salem had 154 MLS listings, a difference of 7 listings (5%) versus the prior month and 27 listings (21%) 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 1,443 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 1,500 sqft
2018-06-01 0 days 1,518 sqft
2018-07-01 0 days 1,616 sqft
2018-08-01 0 days 1,595 sqft
2018-09-01 0 days 1,608 sqft
2018-10-01 0 days 1,674 sqft
2018-11-01 0 days 1,699 sqft
2018-12-01 0 days 1,628 sqft
2019-01-01 0 days 1,619 sqft
2019-02-01 0 days 1,644 sqft
2019-03-01 0 days 1,629 sqft
2019-04-01 0 days 1,658 sqft
2019-05-01 0 days 1,559 sqft
2019-06-01 0 days 1,619 sqft
2019-07-01 0 days 1,603 sqft
2019-08-01 0 days 1,612 sqft
2019-09-01 0 days 1,623 sqft
2019-10-01 0 days 1,627 sqft
2019-11-01 0 days 1,601 sqft
2019-12-01 0 days 1,601 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 1,566 sqft
2020-10-01 0 days 1,592 sqft
2020-11-01 0 days 1,607 sqft
2020-12-01 0 days 1,536 sqft
2021-01-01 0 days 1,550 sqft
2021-02-01 0 days 1,486 sqft
2021-03-01 0 days 1,563 sqft
2021-04-01 0 days 1,590 sqft
2021-05-01 0 days 1,569 sqft
2021-06-01 0 days 1,518 sqft
2021-07-01 0 days 1,569 sqft
2021-08-01 0 days 1,592 sqft
2021-09-01 0 days 1,554 sqft
2021-10-01 0 days 1,508 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 1,530 sqft
2023-04-01 0 days 1,476 sqft
2023-05-01 0 days 1,482 sqft
2023-06-01 0 days 1,533 sqft
2023-07-01 0 days 1,593 sqft
2023-08-01 0 days 1,616 sqft
2023-09-01 0 days 1,600 sqft
2023-10-01 0 days 1,510 sqft
2023-11-01 0 days 1,545 sqft
2023-12-01 0 days 1,536 sqft
2024-01-01 0 days 1,518 sqft
2024-02-01 0 days 1,525 sqft
2024-03-01 0 days 1,494 sqft
2024-04-01 0 days 1,556 sqft
2024-05-01 0 days 1,558 sqft
2024-06-01 0 days 1,556 sqft
Salem's median listing age (time on market) for 2024-06-01 was 0 days.

Salem's median square footage for active listings during the 2024-06-01 period was 1,556 sqft. One year prior, the average listing was 1,533 sqft.

Salem, OH Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 830 $151,740,000 $182,819
Home Improvement 270 $15,810,000 $58,556
Refi 215 $22,595,000 $105,093
Cash Out Refi 192 $22,850,000 $119,010
Other 163 $11,025,000 $67,638

Salem's most frequently cited loan purpose was Home Purchase, with 830 originations. The 2nd most popular reason was Home Improvement, with 270 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 542 $75,470,000 $139,244
7-8% 444 $59,360,000 $133,694
Over 8% 367 $42,155,000 $114,864
5-6% 157 $21,265,000 $135,446
3-4% 38 $3,120,000 $82,105
4-5% 15 $4,495,000 $299,667
<2.5% 5 $365,000 $73,000
2.5-3% 2 $820,000 $410,000

During 2023, Salem's most frequently originated rate bucket was 6-7%, with 542 originations.

Loan Sizing (Salem, OH MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 811 $46,465,000 $57,293
$100k-200k 592 $82,490,000 $139,341
$200k-400k 228 $59,130,000 $259,342
$400k-600k 31 $14,675,000 $473,387
$600k-1000k 5 $3,945,000 $789,000
$Over $1MM 3 $17,315,000 $5,771,667

Salem's loan sizing saw the bucket of loans from $100,000 or less with 811 originations, totaling $46,465,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 588 $95,690,000 $162,738
20-40% 292 $23,040,000 $78,904
60-80% 277 $55,365,000 $199,874
40-60% 214 $22,960,000 $107,290
Under 20% 196 $6,350,000 $32,398
Over 100% 12 $3,690,000 $307,500

Salem's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 588 originations, totaling $95,690,000 in origination value.