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 May 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

$262,500

$138/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$55,500(+26.8%)

Key Takeaway

Homes in Martinsville have sold for 26.8% more than they did a year ago.

Summary: The median home sold price in Martinsville was $262,500 in May 2024, up 26.8% from last year, and the median price per square foot was $138.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $100K$111.5K
+11.5%
2 $151.9K$169K
+11.2%
3 $200K$250K
+25.0%
4 $299K$345K
+15.4%
5+ $425K$577.5K
+35.9%

Summary: Martinsville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.5%, 2 bedroom homes increased by 11.2%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 35.9%.

Median Sold Price Compared To Nearby Cities

Martinsville
+26.8%
Washington Township
+6.9%

Housing Supply in Martinsville, IN

How many homes are available in Martinsville, IN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
101126+24.8%

Summary: The Martinsville real estate market had 126 homes for sale in May 2024, a 24.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 10
-100.0%
2 1216
+33.3%
3 5164
+25.5%
4 2932
+10.3%
5+ 814
+75.0%

Summary: The Martinsville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 25.5%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 75%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2122+4.8%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

3 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. 54.5% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in Martinsville in May 2024, up by 4.8% month-over-month. Of the 22 sold homes, 55% were sold under asking, 32% were sold at asking, and 14% 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

May 2023May 2024CHANGE
12 Days37 Days+191.5%

Summary: Homes in Martinsville had an average of 37 days on market in May 2024, up by 191.5% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 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 May 2024, 22 homes were sold in Martinsville; 68% of homes were sold within 30 days, 18% 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 1 Day Ago

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