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Housing market in Martinsville and Henry and Patrick counties continues to surge
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Housing market in Martinsville and Henry and Patrick counties continues to surge

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When new homeowners Chad and Juana Pickeral moved to Brosville in the summer of 2017, they started looking for the perfect home.

Chad, a Pittsylvania County native who moved to Tennessee in 2003 for college, longed to return to the area that he called home. This husband-and-wife team made the 390-mile move from their circa 1915 home in Cleveland, Tenn., back to Brosville in time for their son, John Pickeral, to be born in January of 2018.

The family toured a variety of houses in Danville, Pittsylvania County, Martinsville and Henry County, but none stood out as the perfect home.

So in 2019 the Pickerals chose to build on an acre of family land on the same road where Chad grew up. The couple contacted Silverpoint Homes, a modular home builder in Martinsville, and selected a customized package that included popular features such as an open floor plan.

But even as the Pickerals settled into their new home at the beginning of the year, they became one of several hundred projected homebuyers in the area for 2020 who have continued a positive trend.

In 2019, the number of homes sold in Martinsville/Henry County and Patrick County respectively reached 141,372 and 99, at a total volume of $70,700,950. In 2018, the respective number of homes sold in each locale totaled 135, 334 and 117, at a total volume of $62,058,924.

The values of the homes in the three areas varied, according to Kim Mangum, association executive at the Martinsville, Henry and Patrick County Association of Realtors.

“Martinsville city’s price range was $130,000 to $160,000. Henry County’s price range was $90,000 to $140,000,” Mangum said. “Patrick County’s price range varied. It [Patrick County] had many sales in the $70,000 to $80,000 range and many between $110,000 and $130,000.”

In all three market locations, Mangum noted the largest number of buyers went for single-family homes verses condos, but she also expressed that the rental market saw growth each year.

In Martinsville, there are 5,740 houses and apartments, according to the most recent data available through NeighborhoodScout, an online analytic database. The properties cover single-family detached dwellings at 73.57%, large apartment complexes at 16.65% and duplexes, homes converted to apartments and small apartment buildings at 8.64%. Row houses and attached homes account for 1.14% of the city’s makeup.

The number of houses built in the city during the past five years include two group homes in 2019, two homes in 2018, four rehab homes built through the Northside Rehab grant in 2017, one Northside Rehab home, one Habitat for Humanity home, and one other home for a total of three in 2016 and two houses in 2015, according to Ruth Easley, Martinsville Commissioner of the Revenue.

Virginia realtors reported in the 2019 Year End Home Sales Report that statewide there were 126,305 total home sales in 2019, up 3.4% from 2018. The median price of homes sold in Virginia in 2019 was $295,000, up 3.5% over the median price in 2018. Inventory declined dramatically in Virginia. With a total of 27,760 active listings at the end of December 2019, year-end inventory was down 20.9% from the year before and down more than 40% from 2015.

And on Jan. 24 the Pickeral family moved inside their new home. Even with a new build, there was plenty of work left to do to turn their modern house into a welcoming home.

“Really, bringing in the furniture did obviously make everything more comfortable, but something that actually surprised me that made it feel really cozy was when we put in our blinds,” Juana said. “That really just made everything feel more comfortable for some reason. I guess because it kind of added some privacy. We still like our open windows and we do open them often, but it really did just kind of tie everything in.”

The inside is like stepping into the pages of a home-and-garden magazine. An expansive open concept floor plan greets visitors with a clear line of sight from the living room to the kitchen to the dining area. On either side of the open space, closed-off areas lead to an assortment of private rooms.

“I feel like an open concept is more welcoming to guests,” Chad Pickeral said. “As far as the bedrooms being off to the side, that’s what my wife wanted.”

Juana Pickeral said the floor plan allowed her to entertain guests while cooking and serving food, while still granting privacy when preparing for bed at the end of the day.

The couple’s 2-year-old son also spoke fondly of the new residence.

“Big house, big TV,” John said.

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