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Sarah Mitchell
Compass Real Estate · ZIP 24112
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24112 ZIP Code Housing Market
$160,000median sale price
What is the 24112 housing market like right now?
The median home sale price in ZIP code 24112 is $160,000, down 3.0% year-over-year. Homes sell in an average of 71 days with 143 active listings. The market is currently a buyer's market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 24112 ZIP code a buyer's or seller's market?
ZIP code 24112 is currently a buyer's market and homes selling in about 71 days. How we determine this →
What are the latest 24112 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $160,000 |
| Median list price | $189,948 |
| Year-over-year price change | -3.0% |
| Average days on market | 71 days |
| Active inventory | 143 listings |
| Sale-to-list price ratio | 94.9% |
| Market condition | Buyer's market |
Source: Redfin · Updated monthly
The 24112 zip code, located in Martinsville, VA, is currently classified as a buyer's market. The median sale price stands at $160,000, representing a -3.0% change year over year. Homes in this area spend an average of 71 days on the market before going under contract. There are currently 143 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 24112 sits in the Martinsville, VA area, roughly 2.8 miles from downtown Martinsville. Because home prices are set street by street, this ZIP can move differently from Martinsville's citywide averages. The figures below reflect 24112 specifically — drawn from Redfin transactions, U.S. Census data for its 31,028 residents, and Zillow value estimates.
Homes sold
75
Last 12 weeks
Days on market
71
Average pace
Active listings
143
Sale-to-list
94.9%
Below asking
What is driving the 24112 housing market?
The 24112 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a buyer's market, homes are selling at approximately 94.9% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 24112 have declined -3.0% compared to last year, which may present opportunities for buyers looking to enter the market at a lower price point. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 24112 stands at $136,283, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $870 per month. This gives a price-to-rent ratio of approximately 13.1, which suggests that buying may be more cost-effective than renting in this area over the long term. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 24112?
Population
31,028
Median income
$48,770/yr
Median age
44.2 years
Owner-occupied
67.0%
College grads
19.6%
Avg commute
20.37 min
What is it like living in 24112?
Zip code 24112 is home to approximately 31,028 residents. The median household income is $48,770 per year, which shapes the types of homes and amenities available in the area. With a median age of 44.2 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 67.0% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 19.6% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 20.37 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 24112.
Which public schools serve ZIP 24112?
12 schools tracked · 4,181 students
The largest public schools serving ZIP code 24112 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.
Frequently asked questions about 24112
What is the median home price in 24112?
The current median sale price in 24112 is $160,000, based on recent Redfin transaction data. Prices have changed -3.0% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 24112 a buyer's or seller's market?
The 24112 zip code is currently classified as a buyer's market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 24112?
Zip code 24112 has a population of approximately 31,028 residents. The median household income is $48,770 per year. About 67.0% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 24112?
Properties Incorporated provides comprehensive data for 24112 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 24112 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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