Midlothian Housing Market Data

There was an increase in total units sold in April, with 172 sold this month in Midlothian Real Estate versus 164 last month, an increase of 5%. This month's total units sold was lower than at this time last year, a decrease of 3% versus April 2018.

Versus last year, the total number of homes available this month is lower by 29 units or 6%. The total number of active inventory this April was 459 compared to 488 in April 2018. This month's total of 459 is lower than the previous month's total supply of available inventory of 465, a decrease of 1%.

Last April, the median sale price for Midlothian Homes was $294,500. This April, the median sale price was $300,000, an increase of 2% or $5,500 compared to last year. The current median sold price is 1% higher than in March.

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

In April, there was 2.7 months of supply available in Midlothian. The amount of supply is similar compared to 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 302 homes newly listed for sale in Midlothian compared to 284 in April 2018, an increase of 6%. There were 212 current contracts pending sale this April compared to 194 a year ago. The number of current contracts is 9% higher than last April.

In April, the average sale price in Midlothian was 100.0% of the average list price, which is 0.6% higher than at this time last year.

This month, the average number of days on market was 28, lower than the average last year, which was 36, a decrease of 22%.





Focus On: Midlothian Housing Market			April 2019

Zip Code(s): 23112, 23114 and 23113
Units Sold 172	Active Inventory 459	Median Sale Price $300,000	Days On Market 28

Down -3% Vs. Year Ago	Down -6% Vs. Year Ago	Up 2% Vs. Year Ago	Down -22% Vs. Year Ago


		Units Sold There was an increase in total units sold in April, with 172 sold this month in Midlothian Real Estate versus 164 last month, an increase of 5%. This month's total units sold was lower than at this time last year, a decrease of 3% versus April 2018.
Active Inventory Versus last year, the total number of homes available this month is lower by 29 units or 6%. The total number of active inventory this April was 459 compared to 488 in April 2018. This month's total of 459 is lower than the previous month's total supply of available inventory of 465, a decrease of 1%.
		Median Sale Price Last April, the median sale price for Midlothian Homes was $294,500. This April, the median sale price was $300,000, an increase of 2% or $5,500 compared to last year. The current median sold price is 1% higher than in March. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 302	Current Contracts 212	Sold Vs. List Price 100.0%	Months of Supply 2.7

Up 6% Vs. Year Ago	Up 9% Vs. Year Ago	Up 0.6% Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In April, there was 2.7 months of supply available in Midlothian. The amount of supply is similar compared to 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 302 homes newly listed for sale in Midlothian compared to 284 in April 2018, an increase of 6%. There were 212 current contracts pending sale this April compared to 194 a year ago. The number of current contracts is 9% higher than last April.
		Sale Price to List Price Ratio In April, the average sale price in Midlothian was 100.0% of the average list price, which is 0.6% higher than at this time last year. Days on Market This month, the average number of days on market was 28, lower than the average last year, which was 36, a decrease of 22%.


	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.