Bloomington, IL - Local Housing Data - Summary

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Bloomington, IL Local News

New Home Prices Rise in Bloomington According to Newest Figures, Sales Fall

Posted on: Apr 06, 2014 07:04:56 AM

Closings of new homes sank year-over-year in January in the Bloomington, IL market, and the decline was by a larger percentage than the December 2013. New home closings moved from 14 a year earlier to 3 after the figure moved from 19 in December 2012 to 5 in December 2013.

New home closings were 3 out of the 58 total closings, down on a percentage basis from 14 of 156 a year earlier. For new and existing homes, closings slid in January after also declining in December year-over-year.

Pricing and Mortgage Trends

The average price for newly sold homes moved north to $418,944 from $251,167 a year ago. This came after a 13.7% fall in December from a year earlier.

The average mortgage size on new homes was $439,875, up from $218,067. Average mortgage size on new homes went from $215,445 in December 2012 to $230,713 in December 2013.

Other Market Trends

There was no change in the composition of the new home market with regard to the types of properties sold in January 2014.


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