Bloomington, IL - Local Housing Data - Summary

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Bloomington, IL Local News

Recent Figures Show New Home Sales and Prices Climb in Bloomington

Posted on: Aug 08, 2014 11:10:32 AM

In May, there was an increase in closings of new homes in the Bloomington, IL market year-over-year,. New home closings moved from 3 a year earlier to 4 after the figure moved from none in April 2013 to 8 in April 2014.

Last year, 3 of 67 total closings were new homes, and this percentage saw a decline as new home closings this year made up 4 of the 122 total closings. Closings of new and existing homes climbed year-over-year in May after also rising in April year-over-year.

Pricing and Mortgage Trends

The average new home value went from $332,800 last year to $343,250. This came after a set of periods with no new home closings in both April 2014 or April 2013.

The average mortgage size on new homes was $317,119, up from $302,400.

Other Market Trends

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


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