Midland Real Estate Statistics

Midland Real Estate Price Trend
Midland real estate average sold price in the last 30 days (June 2 - July 1) was $629,238, which is $6,572 (1.0 %) higher than the average price of $622,666 in the previous 30 day period (May 3 - June 1), and $31,804 (5.1 %) up from the same period 1 year ago ($597,434). Midland real estate prices over the last 30 days are also $2,863 (0.5 %) higher than the average selling price of $626,375 over the past year.
Midland average sold price for homes was $659,000 in the last 30 days (June 2 - July 1), which is $11,000 (1.7 %) up from the average home price of $648,000 in the previous 30 day period (May 3 - June 1), and $51,728 (7.8 %) higher than the same period 1 year ago ($607,272). In the last 30 days Midland the average home price was $33,179 (5.0 %) higher than the average selling price of $625,821 over the last 12 months.
Average sold price of Midland townhouse was $575,000 in the last 30 days (June 2 - July 1), down $30,000 (5.2 %) from the average townhome price of $605,000 over the previous 30 days (May 3 - June 1), and $194,000 (33.7 %) higher than during to the same period 1 year ago ($381,000). Over the last 30 days the average townhouse price in Midland was $283 (0.0 %) lower compared to the average selling price of $575,283 over the last 12 months.
Sold Price Above/Below Asking ($)
Average selling price for Midland real estate was $629,238 in the last 30 days (June 2 - July 1), which is collectively $2,966 (0.4 %) lower than the average asking price of $826,541. This represents an increase of $5,611 (65.4 %) compared to $8,577 (1.2 %) Sold-Under-Asking price from the previous 30 day period (May 3 - June 1).
The maximum Sold Over/Under Asking ratio in Midland during the last 12 months was recorded in January, 2022 with an average of $84,398 over the asking price, while the minimum occurring in May, 2022 with $9,685 below the asking price.
Sales to New Listings Ratio
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 61.8 % with 21 properties sold and 38 new properties listed in the past 30 days (June 2 - July 1). This represents an increase from 47.4 % recorded during the previous 30 day period (May 3 - June 1), and a decrease from 74.2 % compared to the same period one year ago.
Over the the last year the highest SNLR in Midland was 300.0 % recorded in December and the lowest was in May at 54.1 %. 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.
Average Days on Market when Sold vs Delisted
The Average Days on the Market (DOM) for 21 properties that were successfully sold in Midland in the last 30 days (June 2 - July 1) was 21 days, which is 8 days more than 13 days average in the previous 30 day period (May 3 - June 1) and 9 days longer than during the same period a year ago (12 days).
There were 24 delisted properties in Midland, those that got either Expired, Suspended or Terminated over the last 30 days (June 2 - July 1) with an average of 34 days on the market. This is 1 days shorter than the average of 35 days during the previous 30 day period (May 3 - June 1) and 7 days more compared to the same period last year average of 27 days on the market.
24 Midland properties that didn't sell stayed on the market 61.9 % longer than 21 that sucessfully sold over the last 30 days - 21 days when sold vs 34 days when delisted respectively.
Average Days on the Market in Midland over the past 12 months for properties that have sold was 15.2 days, with 44.8 days for those properties that did not sell.
New Real Estate Listings vs Sold/Delisted
34 new properties were listed on the market in Midland in the last 30 days (June 2 - July 1). During the same time 21 properties were sold and 24 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 11 properties (or 32.4 %).
During the previous 30 day period (May 3 - June 1) there were 38 new properties listed, 18 sold and 16 properties that did not sell and were removed from the market.
Over the past year the busiest month for new listings was May with 37 new properties listed, the slowest - December with 5 new listings and a yearly average of 20 new listings per month.
New Real Estate Listings by Property Type
There were a total of 31 homes listed during the last 30 days (June 2 - July 1), which is 91.2 % of all properties listed in Midland. This is a 6.9 % increase compared with a previous 30 day period (May 3 - June 1) and 29.2 % up from the same period a year ago. Over the past year an average of 16 homes are were listed per month.
2 condo units were listed in the last 30 days (June 2 - July 1) in Midland, which represents 5.9 % of all new listings. This is down 60.0 % from the prior 30 day period (May 3 - June 1) and 60.0 % less compared to the same period last year. There were 2 condos listed per month on average during the last 12 months.
1 townhomes were listed over the last 30 days (June 2 - July 1) in Midland, which is 2.9 % of all new real estate inventory. This is a 75.0 % less than during the previous 30 day period (May 3 - June 1) and 50.0 % decrease compared to the same period a year ago. During the last year the average number of townhomes listed stood at 2 a month.
Real Estate Sales by Property Type
There were a total of 17 homes sold during the last 30 days (June 2 - July 1), which is 81.0 % of all properties sold in Midland. This is a 88.9 % increase compared with a previous 30 day period (May 3 - June 1) and 22.7 % down from the same period a year ago. Over the past year an average of 17 homes are were sold per month.
1 townhomes were sold over the last 30 days (June 2 - July 1) in Midland, which is 4.8 % of all sold real estate. This is a 80.0 % less than during the previous 30 day period (May 3 - June 1) and 0.0 % decrease compared to the same period a year ago. During the last year the average number of townhomes sold stood at 2 a month.
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