Is Bloomington, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bloomington is a seller's market

Buyer's
Market

Difference Since November 2022

Since last year, Bloomington has remained a Seller's Market.

Key Takeaway

Bloomington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Bloomington, IL

How much do homes in Bloomington, IL cost?

Median Sold Price

$233,730

$105/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2022

+$24,730(+11.8%)

Key Takeaway

Homes in Bloomington have sold for 11.8% more than they did a year ago.

Summary: The median home sold price in Bloomington was $233,730 in November 2023, up 11.8% from last year, and the median price per square foot was $105.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $85K$85K
0.0%
2 $142K$149.9K
+5.6%
3 $190K$205K
+7.9%
4 $313.7K$325K
+3.6%
5+ $337K$378.5K
+12.3%

Summary: Bloomington housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 12.3%.

Median Sold Price Compared To Nearby Cities

Bloomington
+11.8%
Normal Township
+10.7%
Normal
+9.3%
Bloomington City Township
+8.1%

Housing Supply in Bloomington, IL

How many homes are available in Bloomington, IL?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE
303289-4.6%

Summary: The Bloomington real estate market had 289 homes for sale in November 2023, a 4.6% decrease compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 23
+50.0%
2 5344
-17.0%
3 143123
-14.0%
4 8293
+13.4%
5+ 2326
+13.0%

Summary: The Bloomington housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 17%, 3 bedroom homes decreased by 14%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 13%.

Number of Homes Sold

Oct 2023Nov 2023CHANGE
8694+9.3%

Asking Price vs. Sold Price

36 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

40 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bloomington, you could pay more than the asking price. 42.6% of homes here sold above asking price last month.

Summary: A total of 94 homes were sold or pending in Bloomington in November 2023, up by 9.3% month-over-month. Of the 94 sold homes, 38% were sold under asking, 19% were sold at asking, and 43% were sold over asking.

Days on Market for Bloomington, IL

How long does it take to sell a home in Bloomington, IL?

Average Sale Time

Nov 2022Nov 2023CHANGE
20 Days25 Days+23.3%

Summary: Homes in Bloomington had an average of 25 days on market in Nov 2023, up by 23.3% compared to last year.

Breakdown of Home Sale Times

72 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Bloomington are selling fast, if you're buying plan to act quickly.

Summary: During November 2023, 94 homes were sold in Bloomington; 77% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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