The home truth snippet for Independence: End of year 2015
- Median home prices are up 9.4% to $175,000
- Home sales are up 32.9%
- Days on the market is down 1.7% to 111 days
- Inventory is 4.2 months
- Market favors: Sellers
Independence is one of the most affordable markets in the Salem metro area. This helped to drive home sales in the area as home buyers were priced out of other markets. This increased demand caused the median home price to shift from $160,000 in 2014 to $175,000 in 2015.
The market is in a sellers market, like all of the cities in the Salem metro area. There is no indication this will change which means that buyers will likely face multiple offers for highly desirable properties.