Is Bloomington, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Bloomington has remained a Seller's Market.
Housing Prices in Bloomington, IL
How much do homes in Bloomington, IL cost?
Median Sold Price
$241,833
$106/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Bloomington was $241,833 in March 2024, up 12.7% from last year, and the median price per square foot was $106.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $85K | $110K | +29.4% |
2 Bedrooms | $142K | $149.9K | +5.6% |
3 Bedrooms | $195.5K | $210K | +7.4% |
4 Bedrooms | $315K | $330K | +4.8% |
5+ Bedrooms | $329K | $378K | +14.9% |
Summary: Bloomington housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.4%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 14.9%.
Median Sold Price Compared To Nearby Cities
Bloomington | $214.5K | $241.8K | +12.7% |
Normal Township | $214.9K | $241.2K | +12.2% |
Normal | $215.2K | $241.1K | +12.0% |
Bloomington City Township | $213.6K | $232K | +8.6% |
Housing Supply in Bloomington, IL
How many homes are available in Bloomington, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
232 | 263 | +13.4% |
Summary: The Bloomington real estate market had 263 homes for sale in March 2024, a 13.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 3 | -25.0% |
2 Bedrooms | 40 | 41 | +2.5% |
3 Bedrooms | 85 | 108 | +27.1% |
4 Bedrooms | 87 | 93 | +6.9% |
5+ Bedrooms | 16 | 18 | +12.5% |
Summary: The Bloomington housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 27.1%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
55 | 60 | +9.1% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 60 homes were sold or pending in Bloomington in March 2024, up by 9.1% month-over-month. Of the 60 sold homes, 35% were sold under asking, 30% were sold at asking, and 35% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
14 Days | 45 Days | +225.2% |
Summary: Homes in Bloomington had an average of 45 days on market in Mar 2024, up by 225.2% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During March 2024, 60 homes were sold in Bloomington; 78% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.