Is Norborne, WV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Norborne was a Seller's 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
$335,000
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Norborne have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in Norborne was $335,000 in April 2024, up 3.1% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $215K | $221.5K | +3.0% |
| 3 Bedrooms | $280K | $295K | +5.4% |
| 4 Bedrooms | $385K | $364.9K | -5.2% |
| 5+ Bedrooms | $364.7K | $425.9K | +16.8% |
Summary: Norborne housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 5.4%, 4 bedroom homes decreased by 5.2%, and 5+ bedroom homes increased by 16.8%.
Median Sold Price Compared To Nearby Cities
| Adam Stephens | $195K | $222.2K | +14.0% |
| Martinsburg | $255K | $285K | +11.8% |
| Valley | $279K | $299.9K | +7.5% |
| Hedgesville | $280K | $300K | +7.1% |
| Norborne | $325K | $335K | +3.1% |
Housing Supply in Norborne, WV
How many homes are available in Norborne, WV?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 61 | 68 | +11.5% |
Summary: The Norborne real estate market had 68 homes for sale in April 2024, a 11.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 24 | 35 | +45.8% |
| 4 Bedrooms | 23 | 24 | +4.3% |
| 5+ Bedrooms | 12 | 8 | -33.3% |
Summary: The Norborne housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 45.8%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 10 | -47.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norborne, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Norborne in April 2024, down by 47.4% month-over-month. Of the 10 sold homes, 30% were sold under asking, 30% were sold at asking, and 40% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 57 Days | 27 Days | -51.9% |
Summary: Homes in Norborne had an average of 27 days on market in Apr 2024, down by 51.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Norborne are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in Norborne; 80% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
