Year over year, Faye Wright’s rolling three-month home values have edged down slightly, with the typical home value about 2 percent lower than a year ago. Listing prices, however, are up more than 5 percent, showing that sellers are aiming higher even as sale prices soften. Compared with the broader Salem market, Faye Wright’s typical home value sits below the city’s, suggesting a somewhat more affordable option within the area.
Inventory and sales activity have shifted over the past year. Active listings are up nearly 8 percent, and homes sold have increased about 9 percent, yet months of supply has climbed to 3.2, rising more than 40 percent from last year and pointing to more choices for buyers. At the same time, the share of homes selling above list price has fallen to about 21 percent, down from roughly 31 percent a year ago, signaling slightly less intense bidding.
Looking at the latest three-month snapshot, the median list price is around $428,000, with a typical home value just over $405,000. Homes are taking a median of 58 days to go under contract, and about 28 percent are going off the market within two weeks, showing a mix of slower and faster-moving listings. The average sale-to-list ratio is just above 100 percent, so many homes still close near asking. With Faye Wright marked as a seller’s market but with more inventory and moderating competition, Agent Pronto can connect both buyers and sellers with an agent who understands these shifting conditions.
