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 Last Month

Since last month, 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

$294,750

$183/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$25,250(-7.9%)

Key Takeaway

Homes in Bloomington have sold for 7.9% less than they did a month ago.

Summary: The median home sold price in Bloomington was $294,750 in October 2024, down 7.9% from last month, and the median price per square foot was $183.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 $125K$169.5K
+35.6%
2 $226.5K$205K
-9.5%
3 $315K$284K
-9.8%
4 $465K$445K
-4.3%
5+ $700K$479K
-31.6%

Summary: Bloomington housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes increased by 35.6%, 2 bedroom homes decreased by 9.5%, 3 bedroom homes decreased by 9.8%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 31.6%.

Median Sold Price Compared To Nearby Cities

Van Buren Township
+46.8%
Bloomington
-7.9%
Bloomington Township
-7.9%
Perry Township
-11.4%
Richland Township
-14.2%

Housing Supply in Bloomington, IN

How many homes are available in Bloomington, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
540557+3.1%

Summary: The Bloomington real estate market had 557 homes for sale in October 2024, a 3.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1013
+30.0%
2 9093
+3.3%
3 264280
+6.1%
4 129133
+3.1%
5+ 4738
-19.1%

Summary: The Bloomington housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 30%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes decreased by 19.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
12199-18.2%

Asking Price vs. Sold Price

62 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

13 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. 64.6% of homes here sold below asking price last month.

Summary: A total of 99 homes were sold or pending in Bloomington in October 2024, down by 18.2% month-over-month. Of the 96 sold homes, 65% were sold under asking, 22% were sold at asking, and 14% 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

Sep 2024Oct 2024CHANGE
38 Days30 Days-19.4%

Summary: Homes in Bloomington had an average of 30 days on market in Oct 2024, down by 19.4% compared to last month.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 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, 99 homes were sold in Bloomington; 3% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 0% 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 4 Days Ago

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