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

Housing Market Conditions



Gauge showing Midlothian is a seller's market


Difference Since May 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



Based on all homes sold in the last 12 months.

Difference Since May 2023


Key Takeaway

Homes in Midlothian have sold for 3.8% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $63K$76.8K
2 $158K$153K
3 $225K$230K
4 $255K$245K
5+ $321.5K$267.4K

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

Bremen Township
Oak Forest

Housing Supply in Midlothian, IL

How many homes are available in Midlothian, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE

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

# BEDSApr 2024May 2024CHANGE
1 22
2 67
3 2321
4 13
5+ 62

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 2024May 2024CHANGE

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was 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. 81.8% of homes here sold above asking price last month.

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 2023May 2024CHANGE
32 Days10 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 16 Days Ago

Newest Listings in Midlothian, IL

Nearby Markets to Midlothian, IL

What housing markets are near Midlothian, IL?