Home values: Median prices in 12 cities

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Salem, Ore.

Located in nearby Jefferson, Ore., this custom-built ranch, complete with white picket fence, “has cute curb appeal,” says Nancy Hamby, principal broker of Hamby Realty. The three bedroom, two bath has 1,400 square feet of living space and a spacious living room with gas fireplace and ceiling fan, she says.

The eat-in kitchen has an island, a large pantry, gas range and more oak cabinets “than you know what to do with,” says Hamby. French doors in the dining area open to the patio and a backyard with a raised garden.

The master suite has a large closet, ceiling fan and the bathroom has a sit-down shower. Special features include a spacious patio with extra electrical outlets outside for holiday lights or entertaining, oversized two-car garage, and attic storage. It also has a heat pump.

Price: $182,000

Area median price: $180,400 (down 9.8 percent)

  • 1,400 square feet
  • 0.18 acre lot
  • Patio
  • Heat-pump with AC
  • Oversized two-car garage
  • RV/boat parking pad

Price trend:
In the Salem area, buyers with $180,000 to $184,000 “will not get new construction,” says Hamby. “They should expect that they’re probably going to get anything from 1990 to older.”

There are also many short sales at that price, “However, they are going to have to be patient to go through with the short-sale process,” she says.

In the past year, median home prices in Salem have fluctuated between $200,000 to the current median of $180,400, according to figures from the National Association of Realtors. In the third quarter 2009, median home prices were down 9.8 percent over that same period in 2008.