Is Martinsburg, WV a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Martinsburg is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Martinsburg has remained a Seller's Market.

Key Takeaway

Martinsburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Martinsburg, WV

How much do homes in Martinsburg, WV cost?

Median Sold Price

$300,000

$165/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$21,913(+7.9%)

Key Takeaway

Homes in Martinsburg have sold for 7.9% more than they did a year ago.

Summary: The median home sold price in Martinsburg was $300,000 in October 2024, up 7.9% from last year, and the median price per square foot was $165.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $140K$159.9K
+14.2%
2 $178.5K$209.9K
+17.6%
3 $258.9K$279.9K
+8.1%
4 $335K$354.9K
+6.0%
5+ $379.9K$437.5K
+15.1%

Summary: Martinsburg housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.2%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 15.1%.

Median Sold Price Compared To Nearby Cities

Adam Stephens
+10.6%
Tuscarora
+10.0%
Norborne
+9.4%
Potomac
+9.1%
Martinsburg
+7.9%

Housing Supply in Martinsburg, WV

How many homes are available in Martinsburg, WV?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
322343+6.5%

Summary: The Martinsburg real estate market had 343 homes for sale in October 2024, a 6.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 2521
-16.0%
3 187205
+9.6%
4 9396
+3.2%
5+ 1721
+23.5%

Summary: The Martinsburg 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 decreased by 16%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 23.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
8082+2.5%

Asking Price vs. Sold Price

32 Homes Were Sold
Under Asking

32 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Martinsburg, you may be able to get a good deal. 39% of homes here sold below asking price last month.

Summary: A total of 82 homes were sold or pending in Martinsburg in October 2024, up by 2.5% month-over-month. Of the 82 sold homes, 39% were sold under asking, 39% were sold at asking, and 22% were sold over asking.

Days on Market for Martinsburg, WV

How long does it take to sell a home in Martinsburg, WV?

Average Sale Time

Oct 2023Oct 2024CHANGE
17 Days28 Days+60.0%

Summary: Homes in Martinsburg had an average of 28 days on market in Oct 2024, up by 60% compared to last year.

Breakdown of Home Sale Times

53 Homes Were Sold
Under 30 Days

24 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Martinsburg are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 82 homes were sold in Martinsburg; 65% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

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