Monday, April 13, 2009

Market Report for the Week Ending April 10th



An article in the New York Times this past week stated that the real estate market for Manhattan was finally feeling the the squeeze of the economy because of all the changes on Wall Street. That decline of the Manhattan market will have a large effect through out the metropolitan New York area.

Other sectors of the economy are starting to see subtle signs of improvement. As for the Bloomington real estate market, it is strong and active. Here are the week's numbers:
  • 93 New Listings
  • 28 Sales/Closings
  • 66 Pending Transactions

As for the new listings here's the breakdown:

  • 5 Condo's/PUDs
  • 1 Multi Family
  • 28 Land Listings
  • 1 Commercial Listing
  • 58 Single Family Listings

Many of the 28 land listings are for a new sub-division with large lots priced between $50,000 and $100,000. The community is called Muirfield and is located on the near north side of Bloomington. The lots range in size from over an acre and up to over 4 acres.

Here's the breakdown for the new single family listings:

  • 16 priced below $100,000
  • 14 priced between $100,000 and $150,000
  • 7 priced between $150,000 and $200,000
  • 6 priced between $200,000 and $250,000
  • 4 priced between $250,000 and $300,000
  • 3 priced between $300,000 and $400,000
  • 2 priced between $400,000 and $500,000
  • 1 priced at 995,000
  • 1 priced at $1.095,000

As for the 28 sales of the week, six of them were for homes priced over $250,000 with the high seller going for $425,000. Here are the sales numbers:

  • 3 Condo/PUDs priced from $109,000 to $255,000
  • 24 Single Family homes
  • 1 Commercial listing.