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/