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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Martinsburg is a neutral's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Martinsburg was a Buyer's Market.

Key Takeaway

Martinsburg 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 Martinsburg, WV

How much do homes in Martinsburg, WV cost?

Median Sold Price

$285,000

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$55,000(+23.9%)

Key Takeaway

Homes in Martinsburg have sold for 23.9% more than they did a year ago.

Summary: The median home sold price in Martinsburg was $285,000 in January 2024, up 23.9% from last year, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $180K$140K
-22.2%
2 $173.5K$180.5K
+4.0%
3 $224.5K$262.6K
+17.0%
4 $350K$335K
-4.3%
5+ $400K$385K
-3.8%

Summary: Martinsburg housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.2%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 17%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 3.8%.

Median Sold Price Compared To Nearby Cities

Martinsburg
+23.9%
Tuscarora
+14.2%
Adam Stephens
+7.2%
Norborne
+4.6%
Potomac
0.0%

Housing Supply in Martinsburg, WV

How many homes are available in Martinsburg, WV?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
396393-0.8%

Summary: The Martinsburg real estate market had 393 homes for sale in January 2024, a 0.8% decrease compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 00
0.0%
2 3836
-5.3%
3 241232
-3.7%
4 8894
+6.8%
5+ 2931
+6.9%

Summary: The Martinsburg housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5.3%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 6.9%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
6065+8.3%

Asking Price vs. Sold Price

29 Homes Were Sold
Under Asking

22 Homes Were Sold
At Asking

14 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. 44.6% of homes here sold below asking price last month.

Summary: A total of 65 homes were sold or pending in Martinsburg in January 2024, up by 8.3% month-over-month. Of the 65 sold homes, 45% were sold under asking, 34% 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

Jan 2023Jan 2024CHANGE
31 Days32 Days+3.4%

Summary: Homes in Martinsburg had an average of 32 days on market in Jan 2024, up by 3.4% compared to last year.

Breakdown of Home Sale Times

42 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

6 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 January 2024, 65 homes were sold in Martinsburg; 65% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 9% 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 26 Days Ago

Newest Listings in Martinsburg, WV

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