Is Martinsburg, WV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Martinsburg was a Seller's Market.
Key Takeaway
Martinsburg is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Martinsburg, WV
How much do homes in Martinsburg, WV cost?
Median Sold Price
$285,687
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Martinsburg have sold for 14.3% more than they did a year ago.
Summary: The median home sold price in Martinsburg was $285,687 in March 2024, up 14.3% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $149K | N/A |
| 2 Bedrooms | $160K | $184K | +15.0% |
| 3 Bedrooms | $236.7K | $265.1K | +12.0% |
| 4 Bedrooms | $337.5K | $340K | +0.7% |
| 5+ Bedrooms | $380K | $406.6K | +7.0% |
Summary: Martinsburg housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes increased by 7%.
Median Sold Price Compared To Nearby Cities
| Martinsburg | $250K | $285.6K | +14.3% |
| Tuscarora | $272.5K | $306.1K | +12.4% |
| Adam Stephens | $201.4K | $221K | +9.7% |
| Norborne | $315K | $334.9K | +6.3% |
| Potomac | $275K | $285K | +3.6% |
Housing Supply in Martinsburg, WV
How many homes are available in Martinsburg, WV?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 401 | 412 | +2.7% |
Summary: The Martinsburg real estate market had 412 homes for sale in March 2024, a 2.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 33 | 33 | 0.0% |
| 3 Bedrooms | 235 | 241 | +2.6% |
| 4 Bedrooms | 103 | 107 | +3.9% |
| 5+ Bedrooms | 28 | 29 | +3.6% |
Summary: The Martinsburg 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 remained the same, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 3.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 74 | 56 | -24.3% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Martinsburg, you could pay more than the asking price. 35.7% of homes here sold above asking price last month.
Summary: A total of 56 homes were sold or pending in Martinsburg in March 2024, down by 24.3% month-over-month. Of the 56 sold homes, 34% were sold under asking, 30% were sold at asking, and 36% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 45 Days | 34 Days | -23.6% |
Summary: Homes in Martinsburg had an average of 34 days on market in Mar 2024, down by 23.6% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Martinsburg are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 56 homes were sold in Martinsburg; 66% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
