Is Midlothian, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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, VA
How much do homes in Midlothian, VA cost?
Median Sold Price
$425,673
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Midlothian have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in Midlothian was $425,673 in April 2024, up 6.4% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $224K | +21.1% |
| 2 Bedrooms | $275K | $286K | +4.0% |
| 3 Bedrooms | $329.5K | $351.2K | +6.6% |
| 4 Bedrooms | $425.3K | $455.3K | +7.1% |
| 5+ Bedrooms | $599.9K | $678K | +13.0% |
Summary: Midlothian housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.1%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 13%.
Median Sold Price Compared To Nearby Cities
| Tuckahoe | $421.6K | $475.2K | +12.7% |
| Richmond | $319.9K | $346.3K | +8.3% |
| Clover Hill | $334.8K | $361.2K | +7.9% |
| Richmond | $329.8K | $355.2K | +7.7% |
| Midlothian | $400K | $425.6K | +6.4% |
Housing Supply in Midlothian, VA
How many homes are available in Midlothian, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 483 | 563 | +16.6% |
Summary: The Midlothian real estate market had 563 homes for sale in April 2024, a 16.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 12 | +50.0% |
| 2 Bedrooms | 60 | 70 | +16.7% |
| 3 Bedrooms | 160 | 178 | +11.3% |
| 4 Bedrooms | 175 | 204 | +16.6% |
| 5+ Bedrooms | 80 | 99 | +23.8% |
Summary: The Midlothian housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 16.6%, and 5+ bedroom homes increased by 23.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 128 | 145 | +13.3% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
85 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Midlothian, you could pay more than the asking price. 58.6% of homes here sold above asking price last month.
Summary: A total of 145 homes were sold or pending in Midlothian in April 2024, up by 13.3% month-over-month. Of the 145 sold homes, 21% were sold under asking, 21% were sold at asking, and 59% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 11 Days | 16 Days | +46.2% |
Summary: Homes in Midlothian had an average of 16 days on market in Apr 2024, up by 46.2% compared to last year.
Breakdown of Home Sale Times
122 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Midlothian are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 145 homes were sold in Midlothian; 84% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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