Is Martinsville, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Martinsville is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Martinsville, IN

How much do homes in Martinsville, IN cost?

Median Sold Price

$260,000

$135/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$67,250(+34.9%)

Key Takeaway

Homes in Martinsville have sold for 34.9% more than they did a year ago.

Summary: The median home sold price in Martinsville was $260,000 in March 2024, up 34.9% from last year, and the median price per square foot was $135.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $100K$88K
-12.0%
2 $144.5K$169K
+17.0%
3 $195K$250K
+28.2%
4 $275K$345K
+25.5%
5+ $425K$535K
+25.9%

Summary: Martinsville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12%, 2 bedroom homes increased by 17%, 3 bedroom homes increased by 28.2%, 4 bedroom homes increased by 25.5%, and 5+ bedroom homes increased by 25.9%.

Median Sold Price Compared To Nearby Cities

Martinsville
+34.9%
Washington Township
+15.7%

Housing Supply in Martinsville, IN

How many homes are available in Martinsville, IN?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
9695-1.0%

Summary: The Martinsville real estate market had 95 homes for sale in March 2024, a 1.0% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 22
0.0%
2 129
-25.0%
3 4746
-2.1%
4 2629
+11.5%
5+ 99
0.0%

Summary: The Martinsville housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
28280.0%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Martinsville, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 28 homes were sold or pending in Martinsville in March 2024, the same as the previous month. Of the 28 sold homes, 50% were sold under asking, 29% were sold at asking, and 21% were sold over asking.

Days on Market for Martinsville, IN

How long does it take to sell a home in Martinsville, IN?

Average Sale Time

Mar 2023Mar 2024CHANGE
43 Days47 Days+8.8%

Summary: Homes in Martinsville had an average of 47 days on market in Mar 2024, up by 8.8% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 28 homes were sold in Martinsville; 68% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% 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 28 Days Ago

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