Is Martinsville, IN 46151 a buyer’s or seller’s market?
Martinsville is a seller’s market. With about 1.5 months of supply and 19% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 66% of U.S. ZIP codes, and #75 of 306 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Martinsville housing market right now
In the three months ending August 31, 2026, 19% of homes in Martinsville, IN 46151 sold above their list price, the typical home went under contract in 21 days and there were 1.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 145 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (18% then), homes sold more slowly (18 days then) and the median sale price rose 2% to $325,534. Overall, Martinsville is about as competitive as it was a year ago.
Within Morgan 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 #75 of 306 IN ZIP codes with enough sales (score 63 out of 100).
Nearby, buyers who want less competition could look at Stilesville 46180 (0% sold over asking) or Paragon 46166 (0% sold over asking), while Monrovia 46157 (22% sold over asking) is even more competitive.
Run the numbers for 46151
Nearby markets
Brooklyn 46111Seller’s market $173 /sq ftCamby 46113Seller’s market $152 /sq ftEminence 46125 — /sq ftMonrovia 46157Seller’s market $172 /sq ft Browse all markets →Towns like Martinsville nearby
Find towns like Martinsville in other states →Where Martinsville is
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Questions about Martinsville real estate
Is Martinsville a buyer’s or seller’s market?
A seller’s market: there were 1.5 months of supply in Martinsville, IN 46151 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Martinsville?
The typical home went under contract in 21 days in the latest three months.
Do homes in Martinsville sell over asking?
19% of homes sold above their original list price, and the typical sale closed at 98.8% of the list price.
What are property taxes in Martinsville?
About 0.49% of a home’s value a year in Morgan County, or roughly $1,960 on a $400,000 home.
What is the median home price in Martinsville?
The median sale price was $325,534 in the three months ending August 31, 2026, about $164 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology