Martinsville Housing Update: Sales Pace Slows, 140+ Homes on Market
Martinsville, VA – March 14, 2026 – Home prices eased year over year while more than 140 listings give buyers added choice this spring.
Home prices in Martinsville are trending lower year over year, while active listings remain steady heading into spring.
Top takeaways
- Median sale price was $125,000 in January 2026, down 15.8% from a year earlier.
- About 143–150 homes are currently listed across major portals.
- Homes are averaging roughly 98 days on market.
- Median listing price is about $160,000.
Market snapshot
Redfin reports a median sale price of $125,000 for January 2026, with five homes sold in the past month and an average of 98 days on market. There are 83 recently sold homes tracked on the platform, with many transactions clustering below $200,000.
Active inventory remains elevated for a city this size. Zillow shows roughly 150 homes for sale, and Redfin lists about 143 available properties. Realtor.com places the median listing price near $159,900, suggesting sellers are aiming above recent closed-sale medians.
Price reductions are visible across several listings, indicating some negotiation room for buyers as mortgage-rate sensitivity continues to shape demand.
Development and zoning
The city’s Planning and Zoning office continues to guide land-use and permit activity, while the Martinsville Momentum 2026 Comprehensive Plan update is underway. The plan will shape future rezonings, capital improvements, and neighborhood investment priorities. Martinsville and Henry County also maintain a joint Enterprise Zone offering incentives for qualifying commercial and mixed-use property improvements, a potential catalyst for redevelopment and housing-adjacent projects.
What’s for sale
Current listings range from entry-level homes under $100,000 to larger properties approaching $900,000. Most active single-family homes fall between $120,000 and $275,000, with a mix of brick ranches, updated cottages, and small acreage properties. Buyers seeking value continue to find options below the statewide median, though condition and renovation needs vary widely.
Are you seeing more price cuts, multiple-offer situations, or longer listing times in your neighborhood?
Sources
https://www.redfin.com/city/12773/VA/Martinsville
https://www.redfin.com/city/12773/VA/Martinsville/recently-sold
https://www.zillow.com/martinsville-va/
https://www.realtor.com/realestateandhomes-search/Martinsville_VA
https://www.martinsville-va.gov/567/Martinsville-Momentum-2026-Comprehensive
https://www.martinsville-va.gov/390/Enterprise-Zone