Inventory in Martinsville has eased higher over the past year, with active listings up slightly and months of supply climbing to 6.5 in this rolling three-month view. Homes are also taking a bit longer to sell, with the median days on market edging up to 81 compared with a year ago. Even with more choices and slower pace, about 31.5 percent of homes are still going under contract within two weeks, showing some listings are drawing quick interest.
Contract activity is mixed, with homes sold up nearly 13 percent year over year, while pending sales are down about 15 percent in the same period. New listings have dipped slightly from last year, which, combined with the higher supply and longer market times, suggests buyers have more leverage than they did a year ago but not an unlimited selection.
Pricing is adjusting to these conditions, as the typical home value in Martinsville is down about 19 percent from last year, even though median list prices are modestly higher. Sellers are also seeing fewer bidding wars, with only 12.5 percent of homes selling above list price and the average sale-to-list ratio around 93 percent. With shifting supply and softer prices, Agent Pronto can connect both buyers and sellers with an agent who understands how to navigate today’s Martinsville market.
