What's Happening In The Bloomigton Housing Market

In doing my daily homework today on the Bloomington-Normal real estate market I found some interesting data. If you look at the surface and see 675 homes for sale in Bloomington-Normal and 99 homes have sold in the previous 30 days. You would think that's pretty average for this time of year. And you would be correct.

However, a closer look tells us not all price ranges are  performing the same. The above $250,000 price range currently has a 22 month supply of homes for sale in Bloomington-Normal. In a balanced market (not a buyers or sellers market) you would see 5-6 months supply

This is much different then we are seeing in the below $250,000 portion of the the Bloomington-Normal market. This segment is performing at a 5 month supply. I would normally expected this to be more like in 9 months given we are in December.

 

 

 

                                                                                                          
       Knowing what is happening in your price range is a critical part of successfully getting your home sold.
If you'd like to know what your home is worth and how that price range is performing contact John Armstrong at John@JohnArmstrongHomes.com 

For more info on the Bloomington-Normal Housing Market  tune into my weekly real estate radio show Saturday mornings at 8:00 called "On The House with John Armstrong" on Cities 92.9