Commercial Real Estate Market in Salem, CT
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
26 active listings and 333 off-market properties in Salem, CT. Commercial property asks $269/SF to buy and $6.29/SF/Yr to lease.
Market Trends
Salem, CT spans 29.5 square miles in New London County, Connecticut. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Salem, CT runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail space in Salem, CT asks $305/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Salem, CT runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Salem, CT asks $229/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Agricultural 91.9%
- Residential 2.9%
- Industrial 2.8%
- Commercial 2.4%
Largest Zones share of zoned land by district
Rural A
Rural B
Industrial
Residential A
Business
Market overview
Demographics & Economy
Salem, CT has 4,250 residents in 1,785 households. Density runs 144 people per square mile. Median household income here is $118,839 and median gross rent $1,495 a month.
4,250
Population
1,785
Households
2.4
Avg Household Size
43
Median Age
53%
College-Educated
99%
High-School Grad
29.5 sq mi
ZIP Area
144
Density / Sq Mi
$118,839
Median Household Income
$58,972
Median Earnings
$1,495
Median Rent
$369,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| East Lyme | — | $16.91 |
| Lyme | — | — |
| Colchester | — | $6.29 |
Commercial property in Salem, CT asks $269/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Salem?
Commercial property in Salem, CT asks an average of $269 per square foot. The 3 most recent recorded sales traded at a median of $170/SF, so asking sits 58% above the achieved median. Retail carries the highest asking price at $305/SF.
How much does it cost to lease commercial space in Salem?
Asking lease rates in Salem, CT average $6.29 per square foot per year.
Where does Realmo's Salem market data come from?
Realmo compiles Salem, CT figures from 7 recent recorded sales, 19 active sale listings, 7 active lease listings, 333 tracked off-market properties, the current Salem zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 19 active for-sale and 7 active for-lease listings in Salem, CT. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 18,725 zoned acres across 10 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
