Your July 2010 State of the Market Report
Presented by The John Armstrong Team;
Whether you are in the market to buy or sell now, or just wanting to know what is going on in your local Real Estate market, I believe this report will help you understand what is happening in the Bloomington-Normal area. Of course this data reflects the overall market. If you would like to know more specifically about your subdivision, I encourage you to call my mobile at 309.275.9333, or call my office at 309.661.7068. Please feel free to pass my name along to anyone thinking of buying or selling a home.
HOMES LISTED
Number of homes on the market in B-N July of 2010 1017
Number of homes on the market in surrounding areas July of 2010 402
Number of homes listed in B-N in July 2010 222
Number of homes listed in the surrounding areas in July 2010 84
CLOSINGS & PENDING SALES
Number of homes under contract in B-N in July 2010 104
Number of homes under contract in the surrounding areas in July 2010 39
Average days on the market for homes sold in B-N in July 2010 83
Average days on the market for surrounding area solds in July 2010 96
Average price of homes sold in B-N July of 2010 $191,111
Number of new construction sales in July 2010 15
Number of new construction sales in July 2009 28
*Homes means houses, condos, & zero-lot lines
What does all this mean? It's hard to believe, but our year-to-date sales are only slightly less than in 2009 for the Bloomington/Normal area. The market above $200,000 has been relatively strong the past couple of months. The numbers are trending down however. I project the rest of 2010 sales will be 10% or more behind.
Thanks for taking time to read the July edition of my State Of The Market report. I look forward to sharing August's numbers with you next month. If you know of anyone looking to buy or sell please call my office at 309-661-7068. Visit my web site at http://JohnArmstrongHomes.com & check out my blog at http://johnarmstrongteam.blogspot.com/
Monday, August 16, 2010
Tuesday, July 13, 2010
June 2010 State of the Market Report
Your June 2010 State of the Market Report Presented by John Armstrong;
Whether you are in the market to buy or sell now, or just wanting to know what is going on in your local Real Estate market, I believe this report will help you understand what is happening in the Bloomington-Normal area. Of course this data reflects the overall market. If you would like to know more specifically about your subdivision, I encourage you to call my mobile at 309.275.9333, or call my office at 309.661.7068. Please feel free to pass my name along to anyone thinking of buying or selling a home.
HOMES LISTED
Number of homes on the market in B-N June of 2010 955
Number of homes on the market in surrounding areas June of 2010 386
Number of homes listed in B-N in June 2010 215
Number of homes listed in the surrounding areas in June 2010 104
CLOSINGS & PENDING SALES
Number of homes under contract in B-N in June 2010 115
Number of homes under contract in the surrounding areas in June 2010 50
Average days on the market for homes sold in B-N in June 2010 95
Average days on the market for surrounding area solds in June 2010 96
Average price of homes sold in B-N June of 2010 $153,643
Number of new construction sales in June 2010 16
Number of new construction sales in June 2009 45
*Homes means houses, condos, & zero-lot lines
What does all this mean? June numbers are slightly better than May numbers. It is very disappointing to see only 16 new homes sold in June. As we move away from the tax credit deadline (April 30), more 1st time buyers will enter the market. This will give us some much needed help in the under $130,000 price range. Interest rates for 30 year loans are hovering in the 4 1/2% range which should continue to help.
Thanks for taking time to read the June edition of my State Of The Market report. I look forward to sharing July's numbers with you next month. If you know of anyone looking to buy or sell please call my office at 309-661-7068. Visit my web site at http://JohnArmstrongHomes.com & check out my blog at http://johnarmstrongteam.blogspot.com/
Whether you are in the market to buy or sell now, or just wanting to know what is going on in your local Real Estate market, I believe this report will help you understand what is happening in the Bloomington-Normal area. Of course this data reflects the overall market. If you would like to know more specifically about your subdivision, I encourage you to call my mobile at 309.275.9333, or call my office at 309.661.7068. Please feel free to pass my name along to anyone thinking of buying or selling a home.
HOMES LISTED
Number of homes on the market in B-N June of 2010 955
Number of homes on the market in surrounding areas June of 2010 386
Number of homes listed in B-N in June 2010 215
Number of homes listed in the surrounding areas in June 2010 104
CLOSINGS & PENDING SALES
Number of homes under contract in B-N in June 2010 115
Number of homes under contract in the surrounding areas in June 2010 50
Average days on the market for homes sold in B-N in June 2010 95
Average days on the market for surrounding area solds in June 2010 96
Average price of homes sold in B-N June of 2010 $153,643
Number of new construction sales in June 2010 16
Number of new construction sales in June 2009 45
*Homes means houses, condos, & zero-lot lines
What does all this mean? June numbers are slightly better than May numbers. It is very disappointing to see only 16 new homes sold in June. As we move away from the tax credit deadline (April 30), more 1st time buyers will enter the market. This will give us some much needed help in the under $130,000 price range. Interest rates for 30 year loans are hovering in the 4 1/2% range which should continue to help.
Thanks for taking time to read the June edition of my State Of The Market report. I look forward to sharing July's numbers with you next month. If you know of anyone looking to buy or sell please call my office at 309-661-7068. Visit my web site at http://JohnArmstrongHomes.com & check out my blog at http://johnarmstrongteam.blogspot.com/
Monday, June 28, 2010
Real Estate Technology
It's amazing how real estate has changed over the past 15 years. I remember when relocating buyers would give me a list of 40 properties to show them. Now they give me a list of 5 to 8 in most cases. They weed through listings by the pictures they see on the internet. If a house has only 1 picture they automatically assume something is wrong with house. Buyers expect not only an excellent online presentation but even a presentation on their smart phones.
I have made excellent alliances with some of the largest (most viewed) websites in the industry. I have the top enhancements, which means many pictures and virtual tours, available on not only Realtor.com, Zillow.com amd Trulia.com but many many more. Buyers can have property details text messaged to their phones or search on line. I also am happy to introduce my new phone app. text BN4SALE to 87778. The app will GPS you and give you property information on all the closest homes for sale. Also, it can give you what comparable properties have sold for.
15 years ago, advertising your home for sale in the paper used to be good advertising. That has all changed. Marketing your home with the latest tools is more important than ever.
I have made excellent alliances with some of the largest (most viewed) websites in the industry. I have the top enhancements, which means many pictures and virtual tours, available on not only Realtor.com, Zillow.com amd Trulia.com but many many more. Buyers can have property details text messaged to their phones or search on line. I also am happy to introduce my new phone app. text BN4SALE to 87778. The app will GPS you and give you property information on all the closest homes for sale. Also, it can give you what comparable properties have sold for.
15 years ago, advertising your home for sale in the paper used to be good advertising. That has all changed. Marketing your home with the latest tools is more important than ever.
Thursday, June 17, 2010
What's happening in the market NOW!!!
Currently you are hearing great things about the real estate market. We concluded the Tax Credit April 30th and closings must happen before the end of June. Reports have just been release showing great sales numbers for the Bloomington/Normal market for the month of May. WARNING DON'T BE FOOLED. These numbers are speaking of CLOSED transactions. Many of these transactions were a result of the Tax Credit. The "New" market which began May 1st is much different. There are very few 1st time home buyers out there at this time. So lower priced homes are much harder to sell. We have seen a good amount of buyers in the "upper" price range. These "upper" end buyers have been a welcome boost. I am assuming many of these summer buyers are local move ups. This is a GREAT time to buy if you are in the market. Interest rates are amazing. The supply of homes are at high levels. There are some very good values on the market currently.
If you are interested in getting a monthly update on the State of the Market, just send me an email at John@JohnArmstrongHomes.com and say send me the State of the Market report
If you are interested in getting a monthly update on the State of the Market, just send me an email at John@JohnArmstrongHomes.com and say send me the State of the Market report
Thursday, June 10, 2010
Welcome to my blog
Hello,
My name is John Armstrong and I am a Realtor with Coldwell Banker Heart of America Realtors in Bloomington IL. I have a team that consists of 2 licensed agents, a feedback coordinator/stager, & an office manager. I have carefully selected the people on my team to help me give the best service possible in all areas of Real Estate. I am constantly working with new technology to improve our service & maintain happy clients for life! The purpose of this blog is to keep people informed of the latest Real Estate trends & news in Bloomington/Normal IL & the surrounding areas. I hope that you find this blog helpful & I am always available to answer any questions you may have.
My name is John Armstrong and I am a Realtor with Coldwell Banker Heart of America Realtors in Bloomington IL. I have a team that consists of 2 licensed agents, a feedback coordinator/stager, & an office manager. I have carefully selected the people on my team to help me give the best service possible in all areas of Real Estate. I am constantly working with new technology to improve our service & maintain happy clients for life! The purpose of this blog is to keep people informed of the latest Real Estate trends & news in Bloomington/Normal IL & the surrounding areas. I hope that you find this blog helpful & I am always available to answer any questions you may have.
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