Midlothian Housing Market Data

There was a decrease in total units sold in December, with 120 sold this month in Midlothian Real Estate versus 150 last month, a decrease of 20%. This month's total units sold was lower than at this time last year, a decrease of 27% versus December 2017.

Versus last year, the total number of homes available this month is lower by 56 units or 14%. The total number of active inventory this December was 358 compared to 414 in December 2017. This month's total of 358 is lower than the previous month's total supply of available inventory of 479, a decrease of 25%.

Last December, the median sale price for Midlothian Homes was $289,975. This December, the median sale price was $280,000, a decrease of 3% or $9,975 compared to last year. The current median sold price is 6% lower 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 3.0 months of supply available in Midlothian, compared to 2.5 in December 2017. That is an increase of 18% 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 81 homes newly listed for sale in Midlothian compared to 91 in December 2017, a decrease of 11%. There were 103 current contracts pending sale this December compared to 105 a year ago. The number of current contracts is 2% lower than last December.

In December, the average sale price in Midlothian was 100.2% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 44, higher than the average last year, which was 43, an increase of 2%.





Focus On: Midlothian Housing Market			December 2018

Zip Code(s): 23112, 23114 and 23113
Units Sold 120	Active Inventory 358	Median Sale Price $280,000	Days On Market 44

Down -27% Vs. Year Ago	Down -14% Vs. Year Ago	Down -3% Vs. Year Ago	Up 2% Vs. Year Ago


		Units Sold There was a decrease in total units sold in December, with 120 sold this month in Midlothian Real Estate versus 150 last month, a decrease of 20%. This month's total units sold was lower than at this time last year, a decrease of 27% versus December 2017.
Active Inventory Versus last year, the total number of homes available this month is lower by 56 units or 14%. The total number of active inventory this December was 358 compared to 414 in December 2017. This month's total of 358 is lower than the previous month's total supply of available inventory of 479, a decrease of 25%.
		Median Sale Price Last December, the median sale price for Midlothian Homes was $289,975. This December, the median sale price was $280,000, a decrease of 3% or $9,975 compared to last year. The current median sold price is 6% lower 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 81	Current Contracts 103	Sold Vs. List Price 100.2%	Months of Supply 3.0

Down -11% Vs. Year Ago	Down -2% Vs. Year Ago	No Change Vs. Year Ago	Up 18% Vs. Year Ago


		Months of Supply In December, there was 3.0 months of supply available in Midlothian, compared to 2.5 in December 2017. That is an increase of 18% 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 81 homes newly listed for sale in Midlothian compared to 91 in December 2017, a decrease of 11%. There were 103 current contracts pending sale this December compared to 105 a year ago. The number of current contracts is 2% lower than last December.
		Sale Price to List Price Ratio In December, the average sale price in Midlothian was 100.2% 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 44, higher than the average last year, which was 43, an increase of 2%.


	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.