4
$900
9d
1217 lot Top St
Martinsville, VA 24112
Multi-family
View photos & details
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Martinsville, VA Housing Market
Buyer's market-3.0% YoY
Zillow, August 2026 · Refreshes monthlyRedfin, through May 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The typical home in Martinsville, VA is worth $131,885, fell 3.0% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $157,450, -7.9% year over year (through May 2026). With 6.1 months of supply and homes going under contract in about 47 days, Martinsville is a buyer's market. At today's 7.03% 30-year fixed rate, 20% down on a $131,885 home is about $704/mo in principal and interest.
Key numbers for Martinsville, VA
Typical home value
$131,885
-3.0% in 12 months
Zillow, August 2026
Typical asking rent
$876/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$157,450
-7.9% year over year
Redfin, through May 2026
Days on market
47
Average pace
Redfin, through May 2026
Active listings
73
6.1 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$42,434
Home costs 3.1x income
U.S. Census ACS, 2023
Sale-to-list ratio
95.1%
Selling below asking
Redfin, through May 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Martinsville a buyer's or seller's market?
Buyer's market6.1 months of supply47 days on market95.1% of asking
Martinsville, VA is a buyer's market, based on 6.1 months of supply and homes selling in about 47 days. Above 5 months of supply, homes start accumulating faster than they clear, which is where buyers gain leverage on price, repairs, and closing costs.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Martinsville housing market data show?
Every row below is Redfin's final published month for Martinsville, VA. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $157,450 |
| Median list price | $184,450 |
| Year-over-year price change | -7.9% |
| Median price per sq ft | $101/sq ft |
| Median days on market | 47 days |
| Active inventory | 73 listings |
| Months of supply | 6.1 months |
| Sale-to-list price ratio | 95.1% |
| Homes sold (that month) | 12 |
| New listings (that month) | 20 |
| Listings with a price cut | 21.9% |
| Market condition | Buyer's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Martinsville is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Martinsville is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Martinsville home prices moved?
Over the last three years the median sale price in Martinsville, VA rose 31.2%, from $120,000 to $157,450. The live Zillow value series has fell 3.0% in the last 12 months, which is the more current read now that Redfin's series has stopped. 21.9% of Martinsville listings cut their asking price in the final Redfin month — a modest share, which is what a market looks like when sellers are pricing close to where homes actually clear. For prices to fall meaningfully from here, supply would have to keep building past 6.1 months while the sale-to-list ratio slips below its current 95.1%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Martinsville?
Priced off the typical home value of $131,885 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $26,377 | $105,508 | $704/mo |
| 5% | $6,594 | $125,290 | $836/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $704, that implies roughly $30,175 a year before you add taxes and insurance. The median household in Martinsville earns $42,434, about $12,259 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 3.1x — close to the historical 3x norm, which is unusual in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Martinsville in the next 12 months?
Tell us your timeline. We send the Martinsville market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Martinsville?
Typical asking rent in Martinsville, VA is $876/mo, against a typical home value of $131,885. That is a price-to-rent ratio of 12.5x, which means buying tends to beat renting on monthly cost over a typical hold. Compared head to head, 20% down puts principal and interest at $704 a month — $172 less than renting before taxes and insurance, so ownership can win on monthly cost alone once you have the down payment.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Martinsville?
Active listings in Martinsville, VA went from 62 in May 2025 to 73 in May 2026, a +17.7% change. Rising inventory is the single most useful leading indicator for buyers: more choice, longer marketing times, and more sellers willing to negotiate before price cuts show up in the median.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 67 | 21 |
| July 2025 | 61 | 15 |
| August 2025 | 72 | 24 |
| September 2025 | 76 | 25 |
| October 2025 | 88 | 24 |
| November 2025 | 65 | 9 |
| December 2025 | 62 | 13 |
| January 2026 | 64 | 15 |
| February 2026 | 72 | 18 |
| March 2026 | 79 | 20 |
| April 2026 | 78 | 21 |
| May 2026 | 73 | 20 |
Redfin, through May 2026
How does Martinsville compare to Virginia and the U.S.?
Martinsville homes sell for $157,450 — 68% below the Virginia median of $499,300. Against the national median of $410,700, Martinsville runs 62% lower. Year-over-year, Martinsville moved -7.9% against Virginia's +3.9% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Martinsville, VA | $157,450 | -7.9% | 47 days |
| Virginia statewide | $499,300 | +3.9% | 28 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Martinsville
What buyers should watch
- Months of supply, currently 6.1. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 21.9%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $132 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $131,885 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Martinsville listing goes under contract in 47 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 95.1% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Martinsville added 20 new listings against 12 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved -3.0% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Martinsville varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Martinsville
There are currently 73 homes listed for sale in Martinsville, Virginia. The median listing price is $184K. Featured listings range from $900 to $294,990.
4
$1,000
9d
108 Echols St
Martinsville, VA 24112
Multi-family
View photos & details
5
$1,000
9d
219 lot Amy Ave
Martinsville, VA 24112
Multi-family
View photos & details
3
$3,000
9d
1026 lot Independence Dr
Martinsville, VA 24112
Multi-family
View photos & details
3
$3,000
9d
102 Dogwood Ct
Martinsville, VA 24112
Multi-family
View photos & details
5
$4,000
9d
305 Sellers St
Martinsville, VA 24112
Multi-family
View photos & details
5
$5,000
9d
106 lot Dogwood Ct
Martinsville, VA 24112
Multi-family
View photos & details
6
$6,000
9d
1030 Independence Dr
Martinsville, VA 24112
Multi-family
View photos & details
New Listing
26
$95,000
1 day
931 Myrtle Rd
Martinsville, VA 24112
2 bd1 ba822 sqft$116/ft²
Mobile homeBuilt 194719,602 sqft lot
View photos & details
New Listing
13
$199,900
1 day
222 Aaron St
Martinsville, VA 24112
3 bd2 ba1,410 sqft$142/ft²
Mobile homeBuilt 192410,018 sqft lot
View photos & details
New Listing
11
$265,000
6d
1320 Chatham Heights Rd
Martinsville, VA 24112
3 bd2.5 ba2,043 sqft$130/ft²
Mobile homeBuilt 195119,602 sqft lot
View photos & details
New Listing3D Tour
37
$294,990
1 day
708 Starling Ave
Martinsville, VA 24112
4 bd3.5 ba2,478 sqft$119/ft²
Mobile homeBuilt 193520,037 sqft lot
View photos & details
Looking to buy in Martinsville?
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Active listings
73
Homes on market
Median list price
$184K
Avg. days on market
47
Days until sale
New this week
20
Newly listed
Price drops:21.9%of listings
Sale-to-list:95.1%
How much do homes cost in Martinsville by property type?
How the Martinsville, VA market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $149,900 | $104/sq ft | 11 | 47 days |
| Townhouse | $109,900 | $91/sq ft | 1 | 60 days |
Who lives in Martinsville?
American Community Survey estimates for Martinsville. U.S. Census ACS, 2023
Population
13,584
Households
5,619
Median income
$42,434/yr
Median age
40.2 years
Owner-occupied
56.7%
Median home value
$92,500
Median gross rent
$784/mo
Mean commute
19.6 min
56.7% of occupied homes in Martinsville are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $92,500 against Zillow's $131,885 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $784/mo, below Zillow's $876/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Martinsville?
12 schools tracked · 4,181 students
The largest public schools serving Martinsville, VA by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Laurel Park Middle
Grades 6-8 · 743 students
Meadow View Elementary
Grades PK-5 · 647 students
Martinsville High
Grades 9-12 · 558 students
G.W. Carver Elementary
Grades PK-5 · 451 students
Albert Harris Elementary
Grades K-5 · 402 students
Martinsville Middle
Grades 6-8 · 389 students
Patrick Henry Elementary
Grades K-5 · 344 students
Rich Acres Elementary
Grades PK-5 · 270 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Martinsville, VA?
Ordered by distance from Martinsville, not by size. Compare Martinsville side by side with any of them.
Which ZIP codes are in Martinsville?
These are the ZIP codes we see on active Martinsville listings. Redfin did not publish a matching ZIP-level sale row for the same period, so we are not ranking them by price here — each ZIP page shows exactly what we hold for it.
Martinsville housing market FAQ
Is Martinsville a buyer's or seller's market?
Martinsville, VA is currently a buyer's market. That read comes from 6.1 months of supply, homes going under contract in about 47 days, and sellers getting 95.1% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Martinsville?
The typical home in Martinsville, VA is worth $131,885 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $157,450, about $101 per square foot.
Is Martinsville cheaper than the rest of Virginia?
Martinsville's median sale price of $157,450 is 68% lower than the Virginia statewide median of $499,300, and 62% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Martinsville?
Homes in Martinsville, VA spent a median of 47 days on market before going under contract, versus 28 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Martinsville?
At the current 30-year fixed rate of 7.03%, 20% down on a $131,885 home is about $704 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $30,175 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $42,434.
Are home prices rising in Martinsville?
The typical home value in Martinsville, VA fell 3.0% over the last 12 months, from $135,925 to $131,885 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Martinsville?
Martinsville ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Martinsville?
That depends on your timeline, not on a headline. What the data says today: Martinsville, VA is a buyer's market with 6.1 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 12.5x means buying tends to beat renting on monthly cost over a typical hold. Properties Incorporated publishes the data; it does not give financial advice.
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