Midlothian Housing Market Data

There was an increase in total units sold in June, with 243 sold this month in Midlothian Real Estate versus 208 last month, an increase of 17%. This month's total units sold was higher than at this time last year, an increase of 3% versus June 2018.

Versus last year, the total number of homes available this month is lower by 121 units or 21%. The total number of active inventory this June was 446 compared to 567 in June 2018. This month's total of 446 is lower than the previous month's total supply of available inventory of 495, a decrease of 10%.

Last June, the median sale price for Midlothian Homes was $309,950. This June, the median sale price was $319,500, an increase of 3% or $9,550 compared to last year. The current median sold price is 3% higher than in May.

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

In June, there was 1.8 months of supply available in Midlothian, compared to 2.4 in June 2018. That is a decrease of 24% 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 252 homes newly listed for sale in Midlothian compared to 265 in June 2018, a decrease of 5%. There were 231 current contracts pending sale this June compared to 204 a year ago. The number of current contracts is 13% higher than last June.

In June, the average sale price in Midlothian was 99.9% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 29, higher than the average last year, which was 26, an increase of 12%.





Focus On: Midlothian Housing Market			June 2019

Zip Code(s): 23112, 23114 and 23113
Units Sold 243	Active Inventory 446	Median Sale Price $319,500	Days On Market 29

Up 3% Vs. Year Ago	Down -21% Vs. Year Ago	Up 3% Vs. Year Ago	Up 12% Vs. Year Ago


		Units Sold There was an increase in total units sold in June, with 243 sold this month in Midlothian Real Estate versus 208 last month, an increase of 17%. This month's total units sold was higher than at this time last year, an increase of 3% versus June 2018.
Active Inventory Versus last year, the total number of homes available this month is lower by 121 units or 21%. The total number of active inventory this June was 446 compared to 567 in June 2018. This month's total of 446 is lower than the previous month's total supply of available inventory of 495, a decrease of 10%.
		Median Sale Price Last June, the median sale price for Midlothian Homes was $309,950. This June, the median sale price was $319,500, an increase of 3% or $9,550 compared to last year. The current median sold price is 3% higher than in May. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 252	Current Contracts 231	Sold Vs. List Price 99.9%	Months of Supply 1.8

Down -5% Vs. Year Ago	Up 13% Vs. Year Ago	No Change Vs. Year Ago	Down -24% Vs. Year Ago


		Months of Supply In June, there was 1.8 months of supply available in Midlothian, compared to 2.4 in June 2018. That is a decrease of 24% 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 252 homes newly listed for sale in Midlothian compared to 265 in June 2018, a decrease of 5%. There were 231 current contracts pending sale this June compared to 204 a year ago. The number of current contracts is 13% higher than last June.
		Sale Price to List Price Ratio In June, the average sale price in Midlothian was 99.9% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 29, higher than the average last year, which was 26, an increase of 12%.


	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.