From January through December of 2017, there were 164 homes sold, with a median sale price of $66,750 - a 3.5% increase over the $64,500 median sale price for the previous year. There were 150 homes sold in Salem in 2016.
The median sales tax in Salem for 2017 was $1,284. In 2016, the median sales tax was $1,284, as well. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.9%.
The following table compares Salem to other Marion County cities with similar median sales prices in 2017:
| City | Jan. - Dec. 2017 Home Sales | Jan. - Dec. 2016 Home Sales | % change (Total Home Sales) | Jan. - Dec. 2017 Median Sales Price | Jan. - Dec. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Vernon | 1 | 4 | -75% | $139,000 | $9,750 | 1325.6% |
| Kell | 7 | 10 | -30% | $106,000 | $88,975 | 19.1% |
| Iuka | 17 | 26 | -34.6% | $99,500 | $66,702.50 | 49.2% |
| Walnut Hill | 5 | 1 | 400% | $80,000 | $129,900 | -38.4% |
| Salem | 164 | 150 | 9.3% | $66,750 | $64,500 | 3.5% |
| Kinmundy | 17 | 17 | 0% | $45,000 | $38,000 | 18.4% |
| Patoka | 21 | 14 | 50% | $36,000 | $43,750 | -17.7% |
| Centralia | 195 | 198 | -1.5% | $35,000 | $51,500 | -32% |
| Odin | 21 | 17 | 23.5% | $34,000 | $40,000 | -15% |
| Alma | 7 | 11 | -36.4% | $32,000 | $81,000 | -60.5% |
| Sandoval | 26 | 17 | 52.9% | $20,000 | $19,000 | 5.3% |
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