Explore Salem
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Why Live in Salem
Salem's rich historical legacy comes alive through world-renowned attractions like the Peabody Essex Museum, featuring the 200-year-old Yin Yu Tang Chinese house, and the Salem Maritime National Historic Site where visitors can explore the 1797 merchant ship replica Friendship of Salem. The city's haunting past is preserved at sites like the Salem Witch Trials Memorial and The Witch House, the only remaining structure directly connected to the 1692 trials. The dining scene features distinctive restaurants like Ledger Restaurant & Bar, housed in the former Salem Savings Bank building, and Turner's Seafood at Lyceum Hall, serving classic New England seafood in a historic setting.
The Salem real estate market spans diverse price points across distinct neighborhoods. The median sale price in Salem is $580,000, with median single family home prices reaching $675,000. In the prestigious Chestnut Street area, the median single family home price rises to $1,585,000, while Collins Cove presents more moderate options with a median of $510,000. Condo seekers will find median one-bedroom prices of $405,000 in Salem Common and $316,500 in South Salem.
Property taxes in Salem maintain a 1.07% effective rate, matching nearby Beverly, Peabody, and Marblehead. The Massachusetts state income tax rate is 5.00% for a yearly salary of $48,593.00. Salem's educational landscape includes highly rated private schools like Tower School and North Shore Christian School, plus Salem State University. The city connects easily to Boston via a 30-minute MBTA commuter rail ride or seasonal ferry service from May through October. The walkable downtown area places most attractions, shops, and restaurants within a convenient mile radius.
Home Prices in Salem, MA
The median home sale price in Salem, MA is $579,500, consistent with the median home sale price year-over-year. Homes in Salem sell in 30 days on average, compared to the national average of 57 days.
Home Price Trends
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Median Sale Price
$579,500
|
Median Single Family Sale Price
$700,000
|
|
Median Townhouse Sale Price
$643,250
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Median 2 Bedroom Sale Price
$520,000
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Median 1 Bedroom Sale Price
$395,500
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Average Price Per Sq Ft
$434
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Number of Homes for Sale
78
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Last 12 months Home Sales
408
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Months of Supply
2.30
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Median List Price
$585,000
|
|
Median Change From 1st List Price
0%
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Median Home Sale Price YoY Change
0%
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Popular Home Searches in Salem, MA
In Salem’s historic neighborhoods and coastal pockets, homebuyers often seek character-rich architecture and outdoor space to enjoy New England seasons.
- Love historic charm? Browse Victorian homes or colonial style properties near the McIntire Historic District.
- Need fresh air? Check out homes with a porch or yard in North Salem or South Salem.
- Looking for seasonal comfort? Homes with fireplaces or air conditioning can help with Massachusetts’ changing climate.
- Want space to host? Find homes with a deck or kitchen island for entertaining.
- Prefer low-maintenance living? Explore condos or townhomes close to downtown and commuter rail lines.