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 March 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

$241,833

$106/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$27,273(+12.7%)

Key Takeaway

Homes in Bloomington have sold for 12.7% more than they did a year ago.

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

# BEDSMar 2023Mar 2024CHANGE
1 $85K$110K
+29.4%
2 $142K$149.9K
+5.6%
3 $195.5K$210K
+7.4%
4 $315K$330K
+4.8%
5+ $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
+12.7%
Normal Township
+12.2%
Normal
+12.0%
Bloomington City Township
+8.6%

Housing Supply in Bloomington, IL

How many homes are available in Bloomington, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
232263+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

# BEDSFeb 2024Mar 2024CHANGE
1 43
-25.0%
2 4041
+2.5%
3 85108
+27.1%
4 8793
+6.9%
5+ 1618
+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 2024Mar 2024CHANGE
5560+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bloomington, you may be able to get a good deal. 35% of homes here sold below asking price last month.

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 2023Mar 2024CHANGE
14 Days45 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 22 Days Ago

Newest Listings in Bloomington, IL

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