MIDLOTHIAN HOUSING MARKET DATA

There was an increase in total units sold in March, with 103 sold this month in Midlothian Real Estate versus 94 last month, an increase of 10%. This month's total units sold was lower than at this time last year, a decrease of 20% versus March 2024.

Versus last year, the total number of homes available this month is higher by 12 units or 6%. The total number of active inventory this March was 205 compared to 193 in March 2024. This month's total of 205 is lower than the previous month's total supply of available inventory of 220, a decrease of 7%.

Last March, the median sale price for Midlothian Homes was $440,415. This March, the median sale price was $427,310, a decrease of 3% or $13,105 compared to last year. The current median sold price is 3% lower than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In March, there was 2.0 months of supply available in Midlothian, compared to 1.5 in March 2024. That is an increase of 32% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 159 homes newly listed for sale in Midlothian, which is similar to the amount in March 2024. There were 150 current contracts pending sale this March compared to 145 a year ago. The number of current contracts is 3% higher than last March.

In March, the average sale price in Midlothian was 99.6% of the average list price, which is 2.6% lower than at this time last year.

This month, the average number of days on market was 39, higher than the average last year, which was 26, an increase of 50%.





FOCUS ON: MIDLOTHIAN HOUSING MARKET			MARCH 2025

Zip Code(s): 23112, 23114 and 23113
Units Sold 103	Active Inventory 205	Median Sale Price $427,310	Days On Market 39

Down -20% Vs. Year Ago	Up 6% Vs. Year Ago	Down -3% Vs. Year Ago	Up 50% Vs. Year Ago


		Units Sold There was an increase in total units sold in March, with 103 sold this month in Midlothian Real Estate versus 94 last month, an increase of 10%. This month's total units sold was lower than at this time last year, a decrease of 20% versus March 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 12 units or 6%. The total number of active inventory this March was 205 compared to 193 in March 2024. This month's total of 205 is lower than the previous month's total supply of available inventory of 220, a decrease of 7%.
		Median Sale Price Last March, the median sale price for Midlothian Homes was $440,415. This March, the median sale price was $427,310, a decrease of 3% or $13,105 compared to last year. The current median sold price is 3% lower than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 159	Current Contracts 150	Sold Vs. List Price 99.6%	Months of Supply 2.0

No Change Vs. Year Ago	Up 3% Vs. Year Ago	Down -2.6% Vs. Year Ago	Up 32% Vs. Year Ago


		Months of Supply In March, there was 2.0 months of supply available in Midlothian, compared to 1.5 in March 2024. That is an increase of 32% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 159 homes newly listed for sale in Midlothian, which is similar to the amount in March 2024. There were 150 current contracts pending sale this March compared to 145 a year ago. The number of current contracts is 3% higher than last March.
		Sale Price to List Price Ratio In March, the average sale price in Midlothian was 99.6% of the average list price, which is 2.6% lower than at this time last year. Days on Market This month, the average number of days on market was 39, higher than the average last year, which was 26, an increase of 50%.


	Midlothian are defined as properties listed in zip code/s 23112, 23114 and 23113.
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by CVRMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of CVRMLS or Long & Foster Real Estate, Inc.