$3,324 Closing Credit*
$279,950
2,312 SqFt
Listing Office: RE/MAX ALL STARS
Is Martinsville, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Martinsville was a Seller's Market.
Key Takeaway
Martinsville is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Martinsville, VA
How much do homes in Martinsville, VA cost?
Median Sold Price
$126,500
$88/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$18,357(-12.7%)
Key Takeaway
Homes in Martinsville have sold for 12.7% less than they did a year ago.
Summary: The median home sold price in Martinsville was $126,500 in October 2024, down 12.7% from last year, and the median price per square foot was $88.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $55K | N/A |
| 2 Bedrooms | $108.9K | $50K | -54.1% |
| 3 Bedrooms | $143.9K | $127.3K | -11.6% |
| 4 Bedrooms | $194.4K | $150K | -22.9% |
| 5+ Bedrooms | $389K | $400.5K | +3.0% |
Summary: Martinsville housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 54.1%, 3 bedroom homes decreased by 11.6%, 4 bedroom homes decreased by 22.9%, and 5+ bedroom homes increased by 3%.
Median Sold Price Compared To Nearby Cities
| Iriswood | $97.5K | $265K | +171.8% |
| Collinsville | $153.7K | $175K | +13.9% |
| Axton | $90K | $90K | 0.0% |
| Martinsville | $144.8K | $126.5K | -12.7% |
| Martinsville | $147.8K | $125.7K | -15.0% |
Housing Supply in Martinsville, VA
How many homes are available in Martinsville, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 35 | 45 | +28.6% |
Summary: The Martinsville real estate market had 45 homes for sale in October 2024, a 28.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 7 | 12 | +71.4% |
| 3 Bedrooms | 17 | 20 | +17.6% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Martinsville housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 71.4%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Martinsville, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Martinsville in October 2024, up by 133.3% month-over-month. Of the 7 sold homes, 86% were sold under asking, 14% were sold at asking, and 0% were sold over asking.
Days on Market for Martinsville, VA
We’re sorry, we don't have information for this market at the moment
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.