Midland Real Estate Statistics

Midland real estate average sold price in the last 30 days (March 24 - April 22) was $604,517, which is $25,856 (4.3%) higher than the average price of $578,661 in the previous 30 day period (February 23 - March 23), and $145,719 (24.1%) down from the same period 1 year ago ($750,236). Midland real estate prices over the last 30 days are also $11,111 (1.8%) higher than the average selling price of $593,406 over the past year.

Midland average sold price for homes was $568,040 in the last 30 days (March 24 - April 22), which is $38,781 (6.8%) down from the average home price of $606,821 in the previous 30 day period (February 23 - March 23), and $244,652 (43.1%) lower than the same period 1 year ago ($812,692). In the last 30 days Midland the average home price was $30,156 (5.3%) lower than the average selling price of $598,196 over the last 12 months.

Average Midland condo sold price over the last 30 days (March 24 - April 22) was $1,200,000. During this period it was $770,000 (64.2%) up from the average price of condo of $430,000 during the previous 30 days (February 23 - March 23), and $473,500 (39.5%) higher compared to the same period 1 year ago ($726,500). In the last 30 days Midland the average condo price was $811,302 (67.6%) higher than the average selling price of $388,698 over the last year.

Average sold price of Midland townhouse was $710,000 in the last 30 days (March 24 - April 22), up $240,050 (33.8%) from the average townhome price of $469,950 over the previous 30 days (February 23 - March 23), and $206,667 (29.1%) higher than during to the same period 1 year ago ($503,333). Over the last 30 days the average townhouse price in Midland was $346,615 (48.8%) higher compared to the average selling price of $363,385 over the last 12 months.

Average selling price for Midland real estate was $604,517 in the last 30 days (March 24 - April 22), which is collectively $24,268 (3.8%) lower than the average asking price of $636,532. This represents a decline of $9,282 (61.9%) compared to $14,986 (2.6%) Sold-Under-Asking price from the previous 30 day period (February 23 - March 23).

The maximum Sold Over/Under Asking ratio in Midland during the last 12 months was recorded in August, 2023 with an average of $4,665 under the asking price, while the minimum occurring in November, 2023 with $26,206 below the asking price.

Sales to New Listings Ratio (SNLR) represents the number of sales in relation to new inventory listed over a period of time. SNLR for all property types in Midland was 93.5% with 29 properties sold and 25 new properties listed in the past 30 days (March 24 - April 22). This represents an increase from 64.0% recorded during the previous 30 day period (February 23 - March 23), and an increase from 73.1% compared to the same period one year ago.

Over the the last year the highest SNLR in Midland was 2,320.6% recorded in July and the lowest was in September at 30.8%. SNLR of under 40% generally represents the Buyers' Market, while 60% and above - the Sellers' Market, with 40% to 60% range signaling a balanced market.

The Average Days on the Market (DOM) for 29 properties that were successfully sold in Midland in the last 30 days (March 24 - April 22) was 61 days, which is 30 days more than 31 days average in the previous 30 day period (February 23 - March 23) and 29 days longer than during the same period a year ago (32 days).

There were 25 delisted properties in Midland, those that got either Expired, Suspended or Terminated over the last 30 days (March 24 - April 22) with an average of 87 days on the market. This is 22 days longer than the average of 65 days during the previous 30 day period (February 23 - March 23) and 31 days more compared to the same period last year average of 56 days on the market.

25 Midland properties that didn't sell stayed on the market 42.6% longer than 29 that sucessfully sold over the last 30 days - 61 days when sold vs 87 days when delisted respectively.

Average Days on the Market in Midland over the past 12 months for properties that have sold was 36.4 days, with 58.5 days for those properties that did not sell.

31 new properties were listed on the market in Midland in the last 30 days (March 24 - April 22). During the same time 29 properties were sold and 25 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 23 properties (or 74.2%).

During the previous 30 day period (February 23 - March 23) there were 25 new properties listed, 16 sold and 17 properties that did not sell and were removed from the market.

Over the past year the busiest month for new listings was June with 53 new properties listed, the slowest - December with 17 new listings and a yearly average of 31 new listings per month.

There were a total of 27 homes listed during the last 30 days (March 24 - April 22), which is 87.1% of all properties listed in Midland. This is a 58.8% increase compared with a previous 30 day period (February 23 - March 23) and 42.1% up from the same period a year ago. Over the past year an average of 25 homes are were listed per month.

4 townhomes were listed over the last 30 days (March 24 - April 22) in Midland, which is 12.9% of all new real estate inventory. This is a 33.3% less than during the previous 30 day period (February 23 - March 23) and 20.0% decrease compared to the same period a year ago. During the last year the average number of townhomes listed stood at 4 a month.

There were a total of 25 homes sold during the last 30 days (March 24 - April 22), which is 86.2% of all properties sold in Midland. This is a 92.3% increase compared with a previous 30 day period (February 23 - March 23) and 92.3% up from the same period a year ago. Over the past year an average of 83 homes are were sold per month.

1 condo units were sold in the last 30 days (March 24 - April 22) in Midland, which represents 3.4% of all sold properties. This is down 0.0% from the prior 30 day period (February 23 - March 23) and 66.7% less compared to the same period last year. There were 2 condos sold per month on average during the last 12 months.

3 townhomes were sold over the last 30 days (March 24 - April 22) in Midland, which is 10.3% of all sold real estate. This is a 50.0% more than during the previous 30 day period (February 23 - March 23) and 0.0% decrease compared to the same period a year ago. During the last year the average number of townhomes sold stood at 10 a month.