09/25/2026
Salem + Marion/Polk Counties Market Update
September 24, 2026
MARKET AT A GLANCE
As September winds down, the Salem-area housing market continues to look increasingly balanced.
Buyers have more homes to choose from than they did a year ago, while home values have remained comparatively resilient. For sellers, that makes pricing, presentation and positioning increasingly important. For buyers, additional inventory is creating more opportunity to compare homes and negotiate terms.
The latest complete local market data is for August 2026.
LOCAL MARKET SNAPSHOT
MarketMedian Sold PriceActive ListingsMedian Days on MarketSalem$461,0001,14750Marion County$465,0002,12851Polk County$499,00065151
Marion County's median sold price was 4.49% higher than a year ago, while active inventory increased 9.47%. Polk County's median sold price reached $499,000, up 6.17% year over year, while active listings totaled 651. Both counties were characterized as balanced markets in August.
WHAT THE NUMBERS ARE TELLING US
More inventory does not automatically mean declining home values.
Instead, buyers have more alternatives. That means an accurately priced, well-presented home has a much better chance of standing out from its competition.
FOR SELLERS
Buyers have more choices
The market has changed from the extremely competitive conditions many sellers remember from several years ago.
Today's buyers are comparing more homes before making an offer. Properties that enter the market noticeably above their current market value may sit longer and eventually require a price adjustment.
What matters most right now:
Strategic pricing
Price according to today's competition—not yesterday's market.
Presentation
Condition and first impressions matter, especially online.
Professional marketing
Your property needs to stand out before buyers ever walk through the door.
Clear value
Buyers need to understand why your home is a better choice than competing properties.
The first few weeks of a listing remain especially important because that is typically when it receives the greatest exposure to active buyers.
FOR BUYERS
More inventory can create negotiating opportunities
Additional inventory is giving buyers something that was often missing during the highly competitive markets of recent years: options.
Depending on the property and seller, buyers may have opportunities to negotiate:
Repairs or credits
Seller-paid closing costs
Interest-rate buydowns
Possession terms
Contingencies
Purchase price
That does not mean every seller will negotiate. Well-priced homes in desirable locations can still move quickly.
The key is understanding the property's actual market value, how long it has been listed and how it compares with competing homes.
MORTGAGE RATE UPDATE
30-YEAR FIXED: 7.03%
15-YEAR FIXED: 6.42%
Mortgage rates have moved back above 7%.
Freddie Mac's September 24 Primary Mortgage Market Survey reported that the average 30-year fixed-rate mortgage increased to 7.03%, up from 6.95% the previous week. The average 15-year fixed increased to 6.42%, up from 6.26%.
For buyers, the higher-rate environment makes it increasingly important to evaluate the entire financing structure, not simply the purchase price.
Depending on the transaction, it may be worthwhile to explore with a lender:
Seller contributions toward closing costs
Discount points
Temporary rate buydowns
Permanent rate buydowns
Alternative loan programs
Even a relatively small change in interest rate can affect purchasing power and monthly payments.
Freddie Mac figures are national averages. Individual mortgage rates vary according to borrower, lender, credit profile, down payment, loan program and other factors.
THE BIGGER PICTURE: OREGON
Oregon's housing market continues to reflect the same general shift we're seeing locally: more inventory and a more balanced relationship between buyers and sellers.
The latest statewide data shows a median listing price of approximately $565,000.
Earlier August market data also showed:
Median Sold Price: approximately $525,000
Median Days on Market: approximately 61 days
Active Listings: approximately 34,100
Inventory has expanded compared with a year ago, giving buyers more properties to consider while increasing competition among sellers.
OUR TAKEAWAY
This isn't simply a "buyer market" or a "seller market."
It is a more selective market.
Sellers who price realistically and present their homes well can still achieve strong results.
Buyers who understand market value and recognize where leverage exists may have opportunities that weren't available during the highly competitive markets of recent years.
AROUND SALEM THIS WEEKEND
STRIDE 5K/10K RUN & WALK
Saturday, September 26
Minto-Brown Island Park
Looking for something active to do this weekend?
The City of Salem's STRIDE 5K/10K Run & Walk takes place Saturday at Minto-Brown Island Park.
10K Start: 8:45 AM
5K Start: 9:00 AM
Strollers and dogs on leash are welcome. The City's 2026 recreation guide lists registration at $10 for the 5K and $17 for the 10K.
It's a great excuse to enjoy one of Salem's largest parks as we head into fall.
THINKING ABOUT BUYING OR SELLING?
Online estimates and national housing headlines can be useful—but they only tell part of the story.
Real estate remains highly local.
Two similar homes only a few streets apart can perform very differently depending on:
Location • Condition • Competition • Price Range • Presentation • Buyer Demand
If you're considering selling, we're happy to show you how your home compares with today's active competition and recent sales.
If you're thinking about buying, we can help identify where negotiating opportunities are developing and provide the comparable-sale analysis you need before making an offer.
Whether your plans are for this fall, next year or you're simply curious about the market, we're always happy to be a resource.
GREG & JUDY GYSIN
The Gysin Group
Premiere Property Group, LLC
503-559-9600
[email protected]
Market statistics reflect the latest complete August 2026 data available as of September 24, 2026. Mortgage rates are Freddie Mac national averages released September 24, 2026. Market statistics may vary by source, geography and property type and are provided for general informational purposes.
