Is Midlothian, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Midlothian has remained a Seller's Market.
Housing Prices in Midlothian, VA
How much do homes in Midlothian, VA cost?
Median Sold Price
$425,000
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Midlothian was $425,000 in March 2024, up 6.3% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $184K | $204.5K | +11.1% |
2 Bedrooms | $275K | $275K | 0.0% |
3 Bedrooms | $326.5K | $350K | +7.2% |
4 Bedrooms | $425K | $455K | +7.0% |
5+ Bedrooms | $599.9K | $650K | +8.3% |
Summary: Midlothian housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes did not change, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 8.3%.
Median Sold Price Compared To Nearby Cities
Clover Hill | $330.2K | $360K | +9.0% |
Tuckahoe | $425K | $461.7K | +8.6% |
Richmond | $317.3K | $343.1K | +8.1% |
Midlothian | $400K | $425K | +6.3% |
Richmond | $329.6K | $350.5K | +6.3% |
Housing Supply in Midlothian, VA
How many homes are available in Midlothian, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
431 | 467 | +8.4% |
Summary: The Midlothian real estate market had 467 homes for sale in March 2024, a 8.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 8 | -11.1% |
2 Bedrooms | 58 | 60 | +3.4% |
3 Bedrooms | 145 | 154 | +6.2% |
4 Bedrooms | 148 | 170 | +14.9% |
5+ Bedrooms | 71 | 75 | +5.6% |
Summary: The Midlothian housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes increased by 5.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
110 | 126 | +14.5% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
62 Homes Were Sold
Over Asking
Summary: A total of 126 homes were sold or pending in Midlothian in March 2024, up by 14.5% month-over-month. Of the 126 sold homes, 32% were sold under asking, 19% were sold at asking, and 49% were sold over asking.
Days on Market for Midlothian, VA
How long does it take to sell a home in Midlothian, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
14 Days | 20 Days | +38.8% |
Summary: Homes in Midlothian had an average of 20 days on market in Mar 2024, up by 38.8% compared to last year.
Breakdown of Home Sale Times
103 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During March 2024, 126 homes were sold in Midlothian; 82% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.