From October through December of 2017, there were 45 homes sold, with a median sale price of $70,000 - a 34.6% increase over the $52,000 median sale price for the same period of the previous year. There were 42 homes sold in Salem in the fourth quarter of 2016.
The median sales tax in Salem for 2017 was $1,283.78. In 2016, the median sales tax was $1,283.80. This marks an decrease of 0%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.8%.
The following table compares Salem to other Marion County cities with similar median sales prices in the fourth quarter of 2017:
| City | Oct. - Dec. 2017 Home Sales | Oct. - Dec. 2016 Home Sales | % change (Total Home Sales) | Oct. - Dec. 2017 Median Sales Price | Oct. - Dec. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Vernon | 1 | 0 | - | $139,000 | $0 | - |
| Kell | 1 | 3 | -66.7% | $106,000 | $142,000 | -25.4% |
| Kinmundy | 5 | 2 | 150% | $79,000 | $34,250 | 130.7% |
| Salem | 45 | 42 | 7.1% | $70,000 | $52,000 | 34.6% |
| Iuka | 6 | 10 | -40% | $53,500 | $66,702.50 | -19.8% |
| Patoka | 4 | 5 | -20% | $49,000 | $2,500 | 1860% |
| Centralia | 47 | 46 | 2.2% | $28,000 | $42,750 | -34.5% |
| Alma | 2 | 2 | 0% | $27,050 | $15,000 | 80.3% |
| Odin | 4 | 8 | -50% | $25,088.50 | $41,500 | -39.5% |
| Sandoval | 9 | 3 | 200% | $20,000 | $81,000 | -75.3% |
| Walnut Hill | 3 | 0 | - | $18,348 | $0 | - |
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