Is Midlothian, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Midlothian has remained a Buyer's Market.
Housing Prices in Midlothian, IL
How much do homes in Midlothian, IL cost?
Median Sold Price
$217,000
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Midlothian was $217,000 in February 2024, up 4.8% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $63K | $78K | +23.8% |
2 Bedrooms | $154K | $142.5K | -7.5% |
3 Bedrooms | $225K | $229K | +1.8% |
4 Bedrooms | $250K | $250.2K | 0.1% |
5+ Bedrooms | $294K | $420K | +42.9% |
Summary: Midlothian housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.8%, 2 bedroom homes decreased by 7.5%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 0.1%, and 5+ bedroom homes increased by 42.9%.
Median Sold Price Compared To Nearby Cities
Robbins | $89K | $119.5K | +34.3% |
Crestwood | $146.3K | $169K | +15.5% |
Midlothian | $207K | $217K | +4.8% |
Bremen Township | $213.4K | $214.8K | +0.7% |
Oak Forest | $263.7K | $255K | -3.3% |
Housing Supply in Midlothian, IL
How many homes are available in Midlothian, IL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
39 | 50 | +28.2% |
Summary: The Midlothian real estate market had 50 homes for sale in February 2024, a 28.2% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 11 | 11 | 0.0% |
3 Bedrooms | 24 | 28 | +16.7% |
4 Bedrooms | 1 | 4 | +300.0% |
5+ Bedrooms | 1 | 4 | +300.0% |
Summary: The Midlothian housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 300%, and 5+ bedroom homes increased by 300%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
9 | 7 | -22.2% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Midlothian in February 2024, down by 22.2% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
16 Days | 25 Days | +52.4% |
Summary: Homes in Midlothian had an average of 25 days on market in Feb 2024, up by 52.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 7 homes were sold in Midlothian; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.