Bloomington homes for sale

Bloomington Real Estate Monthly Market Update – September, 2008

At the end of July, we took at look at some market statistics for Bloomington through the month of June. In today’s entry, we wanted to see what took place in July as well as compare year to date sales numbers.

Let’s first take a look at July of 2007 compared to the month of July in 2008. New listings put onto the MLS actually increased this past July by 4.8%, with 173 properties put onto the market. Closed sales in Bloomington dropped by 4%, with 96 homes closing this past July. The average sales price in Bloomington stayed fairly steady, moving from $271,220 in July of 2007 to $267,123 this past July. The percent of original list price received at the time of sale also stayed level, decreasing slightly from 95.3% to 95%. Average days on market for a home in Bloomington increased 23.3% from 89 to 110 days. The active for sale inventory level of homes in Bloomington rose 7.1%, going from 336 to 360 homes on the market. The townhome and condo inventory level in Bloomington decreased from 225 to 215 days, a drop of 4.4%.

Now when we take a look at January through July of 2007 compared to January of July in 2008, new listings in Bloomington are down 1%, with 1,239 new listings put onto the market this year. Closed sales are down by 4.9%, moving from 467 properties sold in 2007 to 444 sold this year. The average sales price for Bloomington as a whole decreased from $256,418 to $237,508. This is a 7.4% year over year drop. The percent of original list price received also decreased from 95.9% to 94%. Average days on market for a listing in Bloomington rose from 107 to 125 days. This is a 17.3% increase.

Compared to our numbers we posted at the end of July, the average sales price has actually gone up. Closed sales also picked up a bit, moving from a year over year decrease of 5.2% at the end of July to 4.9% now. The average market time for a home in Bloomington has stayed fairly level, moving from 130 days at the end of July to 125 days now. The amount of new listings stayed fairly level, moving from 1.8% down at the end of July to a year over year decrease of 1% now.