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 2023

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

$250,228

$110/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$15,493(+6.6%)

Key Takeaway

Homes in Bloomington have sold for 6.6% more than they did a year ago.

Summary: The median home sold price in Bloomington was $250,228 in November 2024, up 6.6% from last year, and the median price per square foot was $110.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $85K$125K
+47.1%
2 $150K$158.5K
+5.7%
3 $205K$222.3K
+8.5%
4 $325K$350.7K
+7.9%
5+ $379K$377.5K
-0.4%

Summary: Bloomington housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.1%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes decreased by 0.4%.

Median Sold Price Compared To Nearby Cities

Normal Township
+7.8%
Normal
+7.7%
Bloomington
+6.6%
Bloomington City Township
+6.2%

Housing Supply in Bloomington, IL

How many homes are available in Bloomington, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
325273-16.0%

Summary: The Bloomington real estate market had 273 homes for sale in November 2024, a 16.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 31
-66.7%
2 6458
-9.4%
3 141125
-11.3%
4 9576
-20.0%
5+ 2213
-40.9%

Summary: The Bloomington housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes decreased by 9.4%, 3 bedroom homes decreased by 11.3%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 40.9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
11286-23.2%

Asking Price vs. Sold Price

36 Homes Were Sold
Under Asking

20 Homes Were Sold
At Asking

30 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bloomington, you may be able to get a good deal. 41.9% of homes here sold below asking price last month.

Summary: A total of 86 homes were sold or pending in Bloomington in November 2024, down by 23.2% month-over-month. Of the 86 sold homes, 42% were sold under asking, 23% 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

Nov 2023Nov 2024CHANGE
24 Days36 Days+46.8%

Summary: Homes in Bloomington had an average of 36 days on market in Nov 2024, up by 46.8% compared to last year.

Breakdown of Home Sale Times

69 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

5 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 2024, 86 homes were sold in Bloomington; 80% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 6% 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 5 Days Ago

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