In August 2017, there were 17 homes sold, with a median sale price of $50,000 - a 22.5% decrease over the $64,500 median sale price for the same period of the previous year. There were 20 homes sold in Salem in August 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 2.6%.
The following table compares Salem to other Marion County cities in August 2017:
| City | Aug. 2017 Home Sales | Aug. 2016 Home Sales | % change (Total Home Sales) | Aug. 2017 Median Sales Price | Aug. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Iuka | 3 | 3 | 0% | $167,500 | $20,500 | 717.1% |
| Walnut Hill | 1 | 0 | - | $80,000 | $0 | - |
| Salem | 17 | 20 | -15% | $50,000 | $64,500 | -22.5% |
| Kinmundy | 1 | 0 | - | $45,000 | $0 | - |
| Centralia | 17 | 14 | 21.4% | $44,000 | $36,000 | 22.2% |
| Patoka | 2 | 3 | -33.3% | $43,750 | $107,500 | -59.3% |
| Sandoval | 2 | 2 | 0% | $37,000 | $6,000 | 516.7% |
| Odin | 1 | 0 | - | $6,000 | $0 | - |
| Vernon | 0 | 0 | - | $0 | $0 | - |
| Alma | 0 | 1 | -100% | $0 | $147,500 | -100% |
| Wamac | 0 | 0 | - | $0 | $0 | - |
| Junction City | 0 | 0 | - | $0 | $0 | - |
| Central City | 0 | 2 | -100% | $0 | $25,750 | -100% |
| Kell | 0 | 0 | - | $0 | $0 | - |
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