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 October 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

$253,316

$109/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$21,566(+9.3%)

Key Takeaway

Homes in Bloomington have sold for 9.3% more than they did a year ago.

Summary: The median home sold price in Bloomington was $253,316 in October 2024, up 9.3% from last year, and the median price per square foot was $109.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $92.5K$120K
+29.7%
2 $149.4K$162.5K
+8.7%
3 $202.6K$221.4K
+9.3%
4 $325K$350K
+7.7%
5+ $371.5K$390K
+5.0%

Summary: Bloomington housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.7%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 5%.

Median Sold Price Compared To Nearby Cities

Bloomington
+9.3%
Normal Township
+8.4%
Normal
+8.0%
Bloomington City Township
+6.6%
Bloomington Township
+5.5%

Housing Supply in Bloomington, IL

How many homes are available in Bloomington, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
336321-4.5%

Summary: The Bloomington real estate market had 321 homes for sale in October 2024, a 4.5% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 43
-25.0%
2 7063
-10.0%
3 134140
+4.5%
4 10693
-12.3%
5+ 2222
0.0%

Summary: The Bloomington housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 4.5%, 4 bedroom homes decreased by 12.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
103106+2.9%

Asking Price vs. Sold Price

49 Homes Were Sold
Under Asking

17 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 may be able to get a good deal. 46.2% of homes here sold below asking price last month.

Summary: A total of 106 homes were sold or pending in Bloomington in October 2024, up by 2.9% month-over-month. Of the 106 sold homes, 46% were sold under asking, 16% were sold at asking, and 38% 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

Oct 2023Oct 2024CHANGE
15 Days23 Days+48.9%

Summary: Homes in Bloomington had an average of 23 days on market in Oct 2024, up by 48.9% compared to last year.

Breakdown of Home Sale Times

81 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

7 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 October 2024, 106 homes were sold in Bloomington; 76% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 7% 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 16 Days Ago

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