Salem & Keizer Real Estate Market Update: August 2026

What happened in the Salem and Keizer housing market in August 2026?

Home prices increased while buyers gained more choices.

The median sales price reached $449,948, up 3.4% from August 2025 and 2.3% from July 2026. At the same time, active inventory climbed to 608 homes and months of inventory increased to 3.9 months.

Closed sales declined, but homes that sold still received a median 99.7% of their asking price.

The takeaway? Salem and Keizer are seeing a more balanced real estate market. Buyers have more choices, but home values have remained resilient and well-positioned homes are still selling.

August 2026 Salem & Keizer Housing Market at a Glance

According to the August 2026 WVMLS/Domus Analytics Market Review for residences under 0.5 acres in Salem and Keizer:

• Median Sales Price: $449,948
• Closed Sales: 154
• Median Days on Market: 58 days
• List Price Received: 99.7%
• Median Sold Price Per Square Foot: $269
• New Listings: 265
• Active Inventory: 608
• Months Supply of Inventory: 3.9 months

There are a few really interesting things happening behind those numbers.

Salem & Keizer Home Prices Increased in August

The median sales price was $449,948, which was 3.4% higher than August 2025 and 2.3% higher than July 2026.

That's important because we're simultaneously seeing more inventory.

More homes being available doesn't automatically mean prices are falling. At least in August, the opposite happened: the median sales price actually increased.

For homeowners who have been wondering whether rising inventory means their home values are suddenly dropping, these numbers don't support that conclusion.

At the same time, one month of data doesn't tell us what every individual property is doing. Neighborhood, price point, condition, updates and competition all play a role in determining what a specific Salem or Keizer home is worth.

Buyers Have More Homes to Choose From

This may be the biggest number I'm watching.

There were 608 active listings in August.

That's 14.7% more inventory than August 2025 and 7.2% more than July 2026.

The months supply of inventory also reached 3.9 months, an increase of 5.3% year over year and 12.8% from July.

For buyers, this can mean something we haven't always had in the Salem-Keizer market:

Choices.

Depending on the property and price point, buyers may have more opportunity to compare homes, negotiate terms, request repairs or simply take a little more time before making a decision.

Housing supply is also an important conversation locally as Keizer continues to grow. I recently wrote about the new residential development moving forward in Keizer and what it could mean for homeowners and buyers.

It's worth following these developments because new housing supply can have a long-term impact on the options available to local buyers.

Fewer Homes Sold in August

There were 154 closed sales in August, down 3.1% compared with August 2025 and 4.9% from July 2026.

That's an interesting contrast to the price numbers.

Prices increased while the number of transactions decreased.

It's a good reminder that headlines about home prices don't tell you everything about the health of a local real estate market.

We have to look at inventory, buyer activity, days on market, pricing and closed sales together.

Homes Actually Sold Faster Than Last Year

The median home spent 58 days on market in August.

That's 8.7% fewer days than August 2025 and 12.9% fewer than July 2026.

This is one of the more interesting statistics in this month's report.

Inventory increased, yet the homes that sold moved faster than they did both last year and last month.

That doesn't mean every home is selling quickly. But it does tell us that buyers are still purchasing homes.

For sellers, the takeaway is that price, presentation, condition and marketing matter when buyers have more listings to choose from.

Sellers Received 99.7% of Their Asking Price

The median list price received was 99.7% in August.

That's 0.3% higher than August 2025, although it dipped 0.3% compared with July 2026.

That's another reason I wouldn't describe the August market as weak for sellers.

For perspective, 99.7% of a hypothetical $450,000 list price would be approximately $448,650.

Of course, that's simply an illustration. Individual homes can sell above or below asking depending on location, condition, pricing, competition and negotiations.

Median Sold Price Per Square Foot Was $269

The median sold price per square foot was $269, down 1.3% year over year but up 0.2% from July.

Price per square foot can be useful for spotting broader trends, but I wouldn't use this number alone to determine what a specific home is worth.

Two homes with exactly the same square footage can have dramatically different values depending on neighborhood, lot size, condition, updates, floor plan, amenities and recent comparable sales.

New Listings Slowed in August

There were 265 new listings in August.

That's 4.3% fewer than August 2025 and 8.7% fewer than July 2026.

So while the total number of homes available increased, fewer brand-new listings entered the market during August.

That's going to be an interesting number to watch as we head into the fall real estate market.

What Does the August Market Mean for Salem & Keizer Buyers?

For buyers, I think there are some encouraging numbers here.

We ended August with:

608 active listings.

3.9 months of inventory.

154 closed sales.

Depending on the individual property, increased inventory can create opportunities that weren't as common during our extremely competitive markets.

But I wouldn't interpret these numbers as a reason to automatically submit a low offer on every house.

Homes that sold in August still received a median 99.7% of asking price, and the median sales price increased.

The strategy needs to be specific to the house.

A home that's been sitting for weeks with no offers is a very different negotiation from a brand-new, well-priced listing with multiple interested buyers.

Mortgage rates are obviously another major part of affordability. If you've been waiting for rates to fall before making a move, I recently broke down what actually causes mortgage rates to move and what the Federal Reserve does—and doesn't—control.

Understanding both the housing market and what drives mortgage rates can help you make a more informed decision instead of trying to perfectly time either one.

What Does August Mean for Salem & Keizer Sellers?

For sellers, August is another reminder that pricing correctly from the beginning matters.

There are more homes competing for buyers' attention.

Buyers can compare your home against more alternatives, and they're likely looking closely at condition, updates, price and overall value.

But the numbers aren't telling us that sellers can't get strong results.

The median sales price increased to nearly $450,000, homes sold faster than they did last August, and sellers received a median 99.7% of their asking price.

The difference is that simply putting a home on the MLS and hoping for the best isn't a marketing strategy.

I talked more about this in What Keizer Home Sellers Should Expect in the 2026 Real Estate Market, including why pricing, condition, presentation and marketing are especially important in today's market.

Is Salem & Keizer Becoming a Buyer's Market?

I wouldn't put that label on the entire Salem-Keizer market based on this report alone.

What I would say is that the market is showing signs of becoming more balanced and buyers have more options.

A 3.9-month supply of inventory is substantially different from an ultra-low-inventory environment.

At the same time, the increase in median sales price and 99.7% list-price-received figure show that sellers whose homes are selling are still achieving prices very close to asking.

And real estate is hyper-local.

What's happening with a $350,000 starter home in Keizer can be completely different from what's happening with an $800,000 property in South Salem.

That's why I always prefer looking at the numbers for the specific neighborhood, property type and price range before making a buying or selling decision.

How Has the Salem & Keizer Market Changed in 2026?

One month gives us a snapshot. Looking at several months gives us a much better picture.

If you want to compare August with earlier points in the year, take a look at my January 2026 Salem & Keizer Real Estate Market Report.

You can also compare these numbers with my May 2026 Marion County Real Estate Market Update.

Following these reports month after month is one of the best ways to understand the direction of our local market without getting caught up in national real estate headlines that may have very little to do with what's actually happening here.

Thinking About Moving to Salem or Keizer?

Market statistics are important, but buying a home is also about figuring out where you actually want to live.

If you're researching Keizer, start with my Best Neighborhoods in Keizer, Oregon guide for a closer look at different parts of the city and things to consider when choosing an area.

And there's obviously a lot more to living here than real estate.

Check out my Best Parks in Salem & Keizer, Oregon guide for some local places to get outside.

You can also find local events, new businesses, development news, restaurant guides, things to do and more throughout SalemKeizerLiving.com.

The Bottom Line on the August 2026 Salem & Keizer Housing Market

August gave us a really interesting combination of numbers.

Home prices increased.

Inventory increased.

Closed sales decreased.

Homes that sold moved faster.

And sellers still received nearly their full asking price.

That's exactly why it's difficult to sum up today's market with a headline like "it's a buyer's market" or "it's a seller's market."

There are opportunities on both sides, but strategy matters.

For buyers, having more inventory can mean more choices and potentially more negotiating opportunities.

For sellers, buyers are still purchasing homes and paying close to asking price—but with more competition, how your home is priced, prepared and marketed matters.

Want to Know What These Numbers Mean for You?

The statistics above cover residences under 0.5 acres throughout Salem and Keizer as a whole. Your home's value—or your negotiating position as a buyer—depends on your specific neighborhood, price range, condition, property type and current competition.

If you're thinking about selling, buying, relocating to Salem or Keizer, or you're simply curious what your home could realistically sell for in today's market, I'd be happy to take a closer look with you.

Want to learn more about living, buying and selling locally?

Visit SalemKeizerLiving.com.

Ready to talk about buying or selling?

You can see my reviews, find my contact information, or schedule a time to connect through my Linktree.

No pressure—just real local information so you can decide what makes sense for you.

Market statistics are based on the WVMLS/Domus Analytics August 2026 Market Review for residences under 0.5 acres in Salem and Keizer. Data was updated September 3, 2026.