Home sales in Bloomington Normal rose 11 percent in April compared to the same month last year. The Association of Realtors said year to date sales are up 5.6 percent. Indicators remain mixed, though. The average price of a home is down slightly for the year to $162,670. And sales of new homes are down significantly for the first four months of the year.
Realtors said the average prices of new homes is up significantly because of increases in the cost of construction materials. Association President Karen Stailey-Lander said changes to building code requirements are also increasing construction costs and convincing some potential buyers to stay in current residences.
Existing property resales year to date increased 9.1% with 709 units closed compared to 650 year to date in 2015. Those units totaled $108,356,475 in volume compared to $102,813,699 in 2015.
277 homes, condos, and zero lot line homes sold last month in the twin cities.
