Is Martinsburg, WV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Martinsburg has remained a Seller's Market.
Key Takeaway
Martinsburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Martinsburg, WV
How much do homes in Martinsburg, WV cost?
Median Sold Price
$285,000
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Martinsburg have sold for 11.8% more than they did a year ago.
Summary: The median home sold price in Martinsburg was $285,000 in April 2024, up 11.8% 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 | $131K | $149K | +13.7% |
| 2 Bedrooms | $168.5K | $189.9K | +12.7% |
| 3 Bedrooms | $240K | $266.3K | +11.0% |
| 4 Bedrooms | $327.5K | $342K | +4.4% |
| 5+ Bedrooms | $384.7K | $401.2K | +4.3% |
Summary: Martinsburg housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.7%, 2 bedroom homes increased by 12.7%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Cities
| Adam Stephens | $195K | $222.2K | +14.0% |
| Martinsburg | $255K | $285K | +11.8% |
| Tuscarora | $274.5K | $306.6K | +11.7% |
| Potomac | $280K | $289K | +3.2% |
| Norborne | $325K | $335K | +3.1% |
Housing Supply in Martinsburg, WV
How many homes are available in Martinsburg, WV?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 245 | 268 | +9.4% |
Summary: The Martinsburg real estate market had 268 homes for sale in April 2024, a 9.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 11 | 10 | -9.1% |
| 3 Bedrooms | 141 | 167 | +18.4% |
| 4 Bedrooms | 75 | 75 | 0.0% |
| 5+ Bedrooms | 16 | 16 | 0.0% |
Summary: The Martinsburg housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 18.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 73 | 66 | -9.6% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Martinsburg, expect to pay close to the asking price. 45.5% of homes here sold near the asking price last month.
Summary: A total of 66 homes were sold or pending in Martinsburg in April 2024, down by 9.6% month-over-month. Of the 66 sold homes, 27% were sold under asking, 45% were sold at asking, and 27% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 38 Days | 21 Days | -45.2% |
Summary: Homes in Martinsburg had an average of 21 days on market in Apr 2024, down by 45.2% compared to last year.
Breakdown of Home Sale Times
54 Homes Were Sold
Under 30 Days
7 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 April 2024, 66 homes were sold in Martinsburg; 82% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
