Is Bloomington, IN 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 April 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, IN

How much do homes in Bloomington, IN cost?

Median Sold Price

$320,000

$175/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$38,000(+13.5%)

Key Takeaway

Homes in Bloomington have sold for 13.5% more than they did a year ago.

Summary: The median home sold price in Bloomington was $320,000 in April 2024, up 13.5% from last year, and the median price per square foot was $175.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $310K$169.9K
-45.2%
2 $194K$206.2K
+6.3%
3 $267K$285K
+6.7%
4 $360K$379.2K
+5.3%
5+ $695K$750K
+7.9%

Summary: Bloomington housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 45.2%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 7.9%.

Housing Supply in Bloomington, IN

How many homes are available in Bloomington, IN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
172283+64.5%

Summary: The Bloomington real estate market had 283 homes for sale in April 2024, a 64.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 13
+200.0%
2 3249
+53.1%
3 68120
+76.5%
4 5282
+57.7%
5+ 1929
+52.6%

Summary: The Bloomington housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 53.1%, 3 bedroom homes increased by 76.5%, 4 bedroom homes increased by 57.7%, and 5+ bedroom homes increased by 52.6%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1550+233.3%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

8 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. 48% of homes here sold below asking price last month.

Summary: A total of 50 homes were sold or pending in Bloomington in April 2024, up by 233.3% month-over-month. Of the 50 sold homes, 48% were sold under asking, 36% were sold at asking, and 16% were sold over asking.

Days on Market for Bloomington, IN

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

Average Sale Time

Apr 2023Apr 2024CHANGE
29 Days40 Days+35.8%

Summary: Homes in Bloomington had an average of 40 days on market in Apr 2024, up by 35.8% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was 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 April 2024, 50 homes were sold in Bloomington; 12% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 2% 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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