Martinsville, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Martinsville, IN Real Estate Data


Martinsville Housing Market Information

With a population of 11,690, 4,499 total housing units (homes and apartments), and a median house value of $120,999, house prices in Martinsville are solidly below the national average.

Single-family detached homes are the single most common housing type in Martinsville, accounting for 67.42% of the city's housing units. Other types of housing that are prevalent in Martinsville include duplexes, homes converted to apartments or other small apartment buildings ( 13.62%), large apartment complexes or high rise apartments ( 8.87%), and a few row houses and other attached homes ( 5.54%).

The most prevalent building size and type in Martinsville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.38% owning and 44.62% renting.

There is a lot of housing in Martinsville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Martinsville built between 1940-1969 ( 32.05%). A lesser amount of the housing stock also hails from before 1939 ( 29.02%). There's also some housing in Martinsville built between 2000 and later ( 6.18%).

Vacant housing appears to be an issue in Martinsville. Fully 10.95% of the housing stock is classified as vacant. Left unchecked, vacant Martinsville homes and apartments can be a drag on the real estate market, holding Martinsville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Martinsville Home Appreciation Rates

Real estate appreciation rates in Martinsville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.11% during the period.

Over the last year, Martinsville appreciation rates have trailed the rest of the nation. In the last twelve months, Martinsville's appreciation rate has been 4.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Martinsville were at 1.66%, which equates to an annual appreciation rate of 6.79%.

Relative to Indiana, our data show that Martinsville's latest annual appreciation rate is lower than 80% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$120,999

Martinsville, IN HOME PRICES

Value Range
> $1,093,000 0.0
$819,001 - $1,093,000 0.0
$546,001 - $819,000 0.9
$437,001 - $546,000 0.5
$328,001 - $437,000 2.8
$219,001 - $328,000 6.9
$109,001 - $219,000 37.6
$55,001 - $109,000 37.7
$0 - $55,000 13.6

Average for IN
Low for Nation

Value Relative to Nation Value Relative to State
65.7551092112198 57.2398190045249

Number Of Homes And Apartments:
4,499

Rent & Ownership

 

Average Market Rent:
$768 / per month

Homeownership Rate

Homeownership
Owners 55.38
Renters 44.62
Vacant 10.95

Housing Market Details

 

Age of Homes

AGE OF Martinsville HOMES
2000 or Newer 6.2
1970 - 1999 32.8
1940 - 1969 32.0
1939 or Older 29.0

Types of Homes

TYPE OF Martinsville HOMES
Single-Family 67.4
Townhomes 5.5
Small Apt. Buildings 13.6
Apt. Complexes 8.9
Mobile Homes 4.6
Other 0.0

Home Size

SIZE OF Martinsville HOMES
No Bedroom 0.93
1 Bedroom 13.10
2 Bedrooms 34.40
3 Bedrooms 41.25
4 Bedrooms 9.34
5 or more bedrooms 0.97

Martinsville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
8.23% 0.47% 2 1
* 10 is highest

Zip Codes in Martinsville, IN