Is Midlothian, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Midlothian is a seller's market

Buyer's
Market

Difference Since June 2023

Since last year, Midlothian has remained a Seller's Market.

Key Takeaway

Midlothian is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Midlothian, IL

How much do homes in Midlothian, IL cost?

Median Sold Price

$225,000

$160/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$6,000(+2.7%)

Key Takeaway

Homes in Midlothian have sold for 2.7% more than they did a year ago.

Summary: The median home sold price in Midlothian was $225,000 in June 2024, up 2.7% from last year, and the median price per square foot was $160.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $63K$79.7K
+26.6%
2 $156K$165K
+5.8%
3 $227K$230K
+1.3%
4 $250K$246.5K
-1.4%
5+ $420K$267.4K
-36.3%

Summary: Midlothian housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.6%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 1.3%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 36.3%.

Median Sold Price Compared To Nearby Cities

Crestwood
+9.8%
Oak Forest
+7.5%
Bremen Township
+6.7%
Midlothian
+2.7%

Housing Supply in Midlothian, IL

How many homes are available in Midlothian, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
3440+17.6%

Summary: The Midlothian real estate market had 40 homes for sale in June 2024, a 17.6% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 22
0.0%
2 77
0.0%
3 2124
+14.3%
4 25
+150.0%
5+ 22
0.0%

Summary: The Midlothian housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 150%, and 5+ bedroom homes remained the same.

Number of Homes Sold

May 2024Jun 2024CHANGE
13130.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Midlothian, you could pay more than the asking price. 69.2% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in Midlothian in June 2024, the same as the previous month. Of the 13 sold homes, 31% were sold under asking, 0% were sold at asking, and 69% 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

Jun 2023Jun 2024CHANGE
14 Days12 Days-13.7%

Summary: Homes in Midlothian had an average of 12 days on market in Jun 2024, down by 13.7% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Midlothian are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 13 homes were sold in Midlothian; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 26 Days Ago

Newest Listings in Midlothian, IL

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