Is Norborne, WV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Norborne has remained a Neutral Market.
Key Takeaway
Norborne 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 Norborne, WV
How much do homes in Norborne, WV cost?
Median Sold Price
$334,990
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Norborne have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Norborne was $334,990 in March 2024, up 6.3% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $205K | $225K | +9.8% |
| 3 Bedrooms | $270K | $290K | +7.4% |
| 4 Bedrooms | $400.1K | $359K | -10.3% |
| 5+ Bedrooms | $380K | $423.6K | +11.5% |
Summary: Norborne 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 9.8%, 3 bedroom homes increased by 7.4%, 4 bedroom homes decreased by 10.3%, and 5+ bedroom homes increased by 11.5%.
Median Sold Price Compared To Nearby Cities
| Hedgesville | $259K | $299.2K | +15.6% |
| Martinsburg | $250K | $285.6K | +14.3% |
| Adam Stephens | $201.4K | $221K | +9.7% |
| Valley | $277.7K | $299.9K | +8.0% |
| Norborne | $315K | $334.9K | +6.3% |
Housing Supply in Norborne, WV
How many homes are available in Norborne, WV?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 97 | 105 | +8.2% |
Summary: The Norborne real estate market had 105 homes for sale in March 2024, a 8.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 40 | 45 | +12.5% |
| 4 Bedrooms | 39 | 39 | 0.0% |
| 5+ Bedrooms | 16 | 19 | +18.8% |
Summary: The Norborne 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 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 18.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 15 | +7.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norborne, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Norborne in March 2024, up by 7.1% month-over-month. Of the 15 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for Norborne, WV
How long does it take to sell a home in Norborne, WV?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 50 Days | 58 Days | +14.9% |
Summary: Homes in Norborne had an average of 58 days on market in Mar 2024, up by 14.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norborne are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 15 homes were sold in Norborne; 47% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
