Is Midlothian, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Midlothian has remained a Seller's Market.
Housing Prices in Midlothian, IL
How much do homes in Midlothian, IL cost?
Median Sold Price
$220,600
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Midlothian was $220,600 in May 2024, up 3.8% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $63K | $76.8K | +22.0% |
2 Bedrooms | $158K | $153K | -3.2% |
3 Bedrooms | $225K | $230K | +2.2% |
4 Bedrooms | $255K | $245K | -3.9% |
5+ Bedrooms | $321.5K | $267.4K | -16.8% |
Summary: Midlothian housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 2.2%, 4 bedroom homes decreased by 3.9%, and 5+ bedroom homes decreased by 16.8%.
Median Sold Price Compared To Nearby Cities
Robbins | $94K | $110K | +17.0% |
Crestwood | $155.4K | $169.9K | +9.3% |
Bremen Township | $210K | $220.1K | +4.8% |
Midlothian | $212.5K | $220.6K | +3.8% |
Oak Forest | $259.8K | $268.3K | +3.3% |
Housing Supply in Midlothian, IL
How many homes are available in Midlothian, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
38 | 35 | -7.9% |
Summary: The Midlothian real estate market had 35 homes for sale in May 2024, a 7.9% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 6 | 7 | +16.7% |
3 Bedrooms | 23 | 21 | -8.7% |
4 Bedrooms | 1 | 3 | +200.0% |
5+ Bedrooms | 6 | 2 | -66.7% |
Summary: The Midlothian housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 200%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
17 | 11 | -35.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Midlothian in May 2024, down by 35.3% month-over-month. Of the 11 sold homes, 9% were sold under asking, 9% were sold at asking, and 82% were sold over asking.
Days on Market for Midlothian, IL
How long does it take to sell a home in Midlothian, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
32 Days | 10 Days | -69.0% |
Summary: Homes in Midlothian had an average of 10 days on market in May 2024, down by 69% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in Midlothian; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.