More on June's Real Estate Market from NAR

As I shared a couple of days ago, news from the National Association of REALTORS®, says June was a great month for the housing market.  Home sales were over 5.5 millions units. And over 1 million new construction homes were started in June. Bloomington's June market had 245 units sold (includes houses and condos) with an average sales price of $219,324.

Market update from the National Association of REALTORS®

Existing home sales are up for the fourth consecutive month. Sales are up 3% from June 2015.

Lawrence Yun, NAR cheif economist said "Existing sales rose again last month as more traditional buyers and fewer investors were able to close on a home despite many competitive areas with unrelenting supply and demand imbalances. Sustained job growth as well as this year's descent in mortgage rates is undoubtedly driving the appetite of home purchases."

Happy New Year 2013! Let's see how the Bloomington market fared in 2012 compared to 2011

The Bloomington Indiana real estate market saw a healthy year of sales activity for 2012.  The average list price and sales price were above those of 2011. And the number of homes sold was up as well.

Here are the numbers for 2012 compared to 2011. These figures are for single family homes that sold in Bloomington.

2012 Sales Numbers

• Average Sales Price:  $197,465
• Average List Price:  $205,491
• List Price/Sales Price Ratio:  96%
• Average Days on the Market:  78
• Most Selling Price Range:  $140K-$159K

2011 Sales Numbers

• Average Sales Price:  $189,163
• Average List Price:  $197,426
• List Price/Sales Price Ratio:  96%
• Average Days on the Market:  89
• Most Selling Price Range:  $120K-$139K

Real Estate update for the week of February 13th - 19th

Blue skies and warming temperatures brought out the buyers in Bloomington. Sales and accepted offers were up this past week.  Here are the numbers:

• 114 new listings
• 51 listings had accepted offers/sales contracts
• 28 listings sold

The highest priced listing that received an accepted offer this week was a limestone house in Elm Heights that was listed at $379,900. This home has been on the market since last spring and needs significant updates, but the location is superb.

The high selling house of the week was located just outside Ellettsville and sold for $276,200.  This elegant two story home was listed for $290,000 and offered five bedrooms and four full baths. Listed since last July, this home started at $325,000.  The best values can often be found in the Ellettsville area, though they can take quite a long time to sell.

Have a great week!

Weekly update for the Bloomington Real Estate Market

While I was cruising through the Caribbean Sea this past week, a great deal of activity was taking place in Bloomington.  Here are the week's numbers:

• 102 new listings on the market
• 37 listings had price changes/reductions
• 43 listings received accepted offers
• 17 listings sold

The high price sale of the week was in Sutton Place on Derby Drive. This home was listed at $319,000 and sold for $300,000.  This home was on the market for 118 days before it had an accepted offer.

The highest priced listing of the week is in Gentry East. This home is priced at $449,900 and has four bedrooms, three full baths and just over 3700 finished square feet.  Plus there is an additional 700+ square feet of unfinished space in the basement.

It was a great week sailing in the Caribbean, but it's great to be back in Bloomington!

This past week's numbers for Bloomington

As we wrap up the month of January, the real estate market continues to be very active.  Mild weather, great interest rates and a good inventory of homes is creating a healthy environment. 

There were fewer new listings this week caused by the fact that some many home owners focused on getting their houses on the market bright and early this month.

Here are the week's numbers:

• 80 new listings (there were 29 properties withdrawn, so we're most likely looking at 51 +/- actual new listings
• 30 properties sold
• 31 properties received accepted offers
• 42 properties had price reductions.  (many of these will be home owners who are trying to make their house more appealing to buyers with the new year...a good idea.)

The high selling house of the week sold for $270,000. This house in Hyde Park was listed for $300,000.

Market update for the past week of Bloomington's real estate industry

It's been a busy week in Bloomington and the surrounding area. Even with icy conditions buyers were ready to make a move.  And more and more homes keep coming on the market which makes the shopping great fun!

Indiana as a whole is seeing appreciation again in many areas, which will bring even better conditions to Bloomington.

Here are this past week's numbers:

• 100 new listings
• 26 withdrawn listings (like last week, most of these homes will have been pulled out of the MLS system and re-entered with a new MLS number.  All MLS numbers in this market start with the year they are entered into the system, so all new listings will be eight digits starting with 2012.  And having a new MLS number will make the listing appear as if it is fresh on the market)
• 45 price changes (almost all, if not all, will be price reductions)
• 16 homes sold
• 61 homes went pending (this is a phenomenal number for this time of year!)

This time of year we are seeing a lot of local home owners making a move and trying to beat the rush of those buyers coming from out of the area with spring job offers.  The fact that people are making moves for more space or to a different neighborhood is a great sign of the confidence that Bloomingtonians have in our local economy.

Stay warm!