Is Norborne, WV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Norborne was a Neutral Market.
Key Takeaway
Norborne is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Norborne, WV
How much do homes in Norborne, WV cost?
Median Sold Price
$349,900
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Norborne have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Norborne was $349,900 in May 2024, up 7.7% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $215K | $221.5K | +3.0% |
| 3 Bedrooms | $279K | $299.9K | +7.5% |
| 4 Bedrooms | $380K | $374.2K | -1.5% |
| 5+ Bedrooms | $364.7K | $425.9K | +16.8% |
Summary: Norborne housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 7.5%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes increased by 16.8%.
Median Sold Price Compared To Nearby Cities
| Adam Stephens | $199.9K | $220K | +10.0% |
| Martinsburg | $265K | $287.7K | +8.6% |
| Norborne | $325K | $349.9K | +7.7% |
| Valley | $280K | $300K | +7.1% |
Housing Supply in Norborne, WV
How many homes are available in Norborne, WV?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 70 | 89 | +27.1% |
Summary: The Norborne real estate market had 89 homes for sale in May 2024, a 27.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 34 | 42 | +23.5% |
| 4 Bedrooms | 26 | 34 | +30.8% |
| 5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The Norborne housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 21 | +61.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norborne, expect to pay close to the asking price. 38.1% of homes here sold near the asking price last month.
Summary: A total of 21 homes were sold or pending in Norborne in May 2024, up by 61.5% month-over-month. Of the 21 sold homes, 29% were sold under asking, 38% were sold at asking, and 33% were sold over asking.
Days on Market for Norborne, WV
How long does it take to sell a home in Norborne, WV?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 31 Days | +40.9% |
Summary: Homes in Norborne had an average of 31 days on market in May 2024, up by 40.9% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norborne are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 21 homes were sold in Norborne; 67% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
