Is Martinsville, VA 24112 a buyer’s or seller’s market?

The Martinsville housing market right now

In the three months ending August 31, 2026, 11% of homes in Martinsville, VA 24112 sold above their list price, the typical home went under contract in 73 days and there were 4.1 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 96 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 15%, homes sold more slowly (47 days then) and the median sale price fell 12% to $159,831. Overall, Martinsville is less competitive than a year ago, which gives buyers more room.

Within Henry County, homes here sell faster than in 50% of the county’s ZIP codes, and sell more often over asking than in 67%. On our competition score, Martinsville ranks #345 of 358 VA ZIP codes with enough sales (score 17 out of 100).

Nearby, buyers who want less competition could look at Spencer 24165 (0% sold over asking) or Fieldale 24089 (0% sold over asking), while Collinsville 24078 (22% sold over asking) and Bassett 24055 (18% sold over asking) are even more competitive.