Midlothian Housing Market Data

There was a decrease in total units sold in December, with 160 sold this month in Midlothian Real Estate versus 166 last month, a decrease of 4%. This month's total units sold was higher than at this time last year, an increase of 31% versus December 2018.

Versus last year, the total number of homes available this month is lower by 124 units or 29%. The total number of active inventory this December was 302 compared to 426 in December 2018. This month's total of 302 is lower than the previous month's total supply of available inventory of 375, a decrease of 19%.

Last December, the median sale price for Midlothian Homes was $281,500. This December, the median sale price was $307,500, an increase of 9% or $26,000 compared to last year. The current median sold price is 1% higher than in November.

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

In December, there was 1.9 months of supply available in Midlothian, compared to 3.5 in December 2018. That is a decrease of 46% 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 99 homes newly listed for sale in Midlothian compared to 82 in December 2018, an increase of 21%. There were 103 current contracts pending sale this December compared to 96 a year ago. The number of current contracts is 7% higher than last December.

In December, the average sale price in Midlothian was 99.2% of the average list price, which is 1.2% lower than at this time last year.

This month, the average number of days on market was 41, lower than the average last year, which was 43, a decrease of 5%.





Focus On: Midlothian Housing Market			December 2019

Zip Code(s): 23112, 23114 and 23113
Units Sold 160	Active Inventory 302	Median Sale Price $307,500	Days On Market 41

Up 31% Vs. Year Ago	Down -29% Vs. Year Ago	Up 9% Vs. Year Ago	Down -5% Vs. Year Ago


		Units Sold There was a decrease in total units sold in December, with 160 sold this month in Midlothian Real Estate versus 166 last month, a decrease of 4%. This month's total units sold was higher than at this time last year, an increase of 31% versus December 2018.
Active Inventory Versus last year, the total number of homes available this month is lower by 124 units or 29%. The total number of active inventory this December was 302 compared to 426 in December 2018. This month's total of 302 is lower than the previous month's total supply of available inventory of 375, a decrease of 19%.
		Median Sale Price Last December, the median sale price for Midlothian Homes was $281,500. This December, the median sale price was $307,500, an increase of 9% or $26,000 compared to last year. The current median sold price is 1% higher than in November. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 99	Current Contracts 103	Sold Vs. List Price 99.2%	Months of Supply 1.9

Up 21% Vs. Year Ago	Up 7% Vs. Year Ago	Down -1.2% Vs. Year Ago	Down -46% Vs. Year Ago


		Months of Supply In December, there was 1.9 months of supply available in Midlothian, compared to 3.5 in December 2018. That is a decrease of 46% 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 99 homes newly listed for sale in Midlothian compared to 82 in December 2018, an increase of 21%. There were 103 current contracts pending sale this December compared to 96 a year ago. The number of current contracts is 7% higher than last December.
		Sale Price to List Price Ratio In December, the average sale price in Midlothian was 99.2% of the average list price, which is 1.2% lower than at this time last year. Days on Market This month, the average number of days on market was 41, lower than the average last year, which was 43, a decrease of 5%.


	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.