Enjoy this Midlothian Real Estate Market Report for this month. You can also do a home search and save your favorite properties. Set up a search and be alerted as soon as a matching property hits our database. It’s Exclusive.
Midlothian Housing Market Welcomes an Increase in Inventory
By the conclusion of January, 105 units had been sold, with 94 being single-family homes. This shows a decline compared to December’s 146 sales, but an increase relative to the 73 units sold last year.
New listings bounced back to 206 homes from December’s low of 91, causing a slight rise in active inventory. As a direct result of the increase in supply and decrease in demand, the median sale price for homes in Midlothian took a $12,000 hit, falling to $275,000. However, this still represents a 3.5 percent increase against $265,525 in January 2017.
The deceleration of buying this winter means it may be wise to take some to evaluate your current strategy and prepare for the busy spring months. For those not willing to wait, the upside of the current market is that homes are still selling quickly with a median sale time of 50 days. Strong demand has resulted in houses being sold for essentially the same as their listing price, meaning it is important to determine if how much you are asking needs to be raised or lowered. Read More Here!
Market Reports from 2018
Market Reports from 2017
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|September 2017||October 2017|
|November 2017||December 2017|
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