Bloomington-Normal Association of Realtors | WGLT

Bloomington-Normal Association of Realtors

Ed Neaves
Illinois Realtors

A Bloomington real estate agent is helping lead a fight against rent control in Illinois.

Home on the market
Carleigh Gray / WGLT

Two of what are typically the busiest home-selling months of the year were a bit slower in Bloomington-Normal.

Ed, Danell, Diane, and Dan pose for a photo
Ryan Denham / WGLT

There’s a new outdoor space in Normal for cancer patients, their families, and the general public to reflect, meditate, and regenerate.

Construction worker at a home project
Charles Krupa / AP

Prices were up but the pace of sales slowed in May as the Bloomington-Normal housing market entered its busy selling season.

For Sale sign outside a home
Carleigh Gray / WGLT

The Bloomington-Normal real estate market is off to a strong start in 2019, with sales and prices up even as low inventory continues to make it a seller’s market.

For Sale sign outside a home
Carleigh Gray / WGLT

The leader of the Bloomington-Normal Association of Realtors says the government shutdown has little impact on local home loan programs.

Home with For Sale sign
Carleigh Gray / WGLT

The local Realtors president said corporate relocations helped the Bloomington-Normal real estate market play some catchup during an especially busy July.

Ryan Denham / WGLT

You know what’s not good for a real estate market? A ton of uncertainty at the market’s biggest employer.

Carleigh Gray / WGLT

The Bloomington-Normal real estate market picked up a little in March, as the pace of sales quickened and prices continued their upward climb.

Ralph Weisheit / WGLT

The Bloomington-Normal housing market continued its sluggish start to 2018, with total sales off nearly 20 percent through February.

Staff / WGLT

The Bloomington-Normal housing market got off to a slow start in 2018, with sales in January—typically one of the slowest months of the year—falling by more than 25 percent from a year ago.

Staff / WGLT

Home sales took a sharp dip in December, leading to an slower 2017 overall for the local real estate market, the Bloomington-Normal Association of Realtors reported Tuesday.

Ralph Weisheit / WGLT

The pace of home sales in the Bloomington-Normal market slowed in October, even as the average price continued to climb due to low inventory, local real estate agents reported Wednesday.

WGLT

A low number of homes on the market is helping to drive up prices in Bloomington-Normal real estate, even as the demand for newly built homes continues to lag.

Ralph Weisheit / WGLT

Bloomington-Normal home sales ticked back up again in August as more buyers closed deals toward the end of the busy selling season.

Staff

Home sales in Bloomington-Normal were strong during February, and the head of the realtors' association says there aren't enough homes on the market right now.

Staff / WGLT

The head of the Bloomington-Normal Association of Realtors predicts a strong home-selling climate in 2017, from about mid-year on.

Until then, Ed Neaves said things will be steady. He said about 100 homes are under contract so far this year, about the same as at this point in 2016. Sales last year rose 2.8%.

Neaves said a lot of buyers are out there but they are educated and particular.

Ralph Weisheit

The realty market amounted to a nearly $486 million chunk of the Bloomington Normal economy last year. That's up more than 2% in dollars.

The number of home sales rose by 2.8%.

Alan Ferguson / Creative Commons

The Peoria area has recorded an earlier than usual seasonal slowdown in home sales.

Realtors Association President Jana Heffron said third quarter sales dropped more than ten percent, but overall market fundamentals remain sound.

Ralph Weisheit

Sales of homes and condos in Bloomington-Normal continued their recent upward trends last month.

According to figures supplied by the Bloomington-Normal Association of Realtors, home sales were up 3.3 percent in August compared to the same month last year, and are up five percent year-to-date. 

Creative Commons

Housing sales in Bloomington Normal appear to be reflecting the economy as a whole; growing over last year, but increasing slower than at this time last year.

Association of Realtors President Karent Stailey-Lander is pleased with the results through July.

Ralph Weisheit

Realtors in Bloomington-Normal are seeing signs to get a little excited about more newly-constructed home options for buyers.

Karen Stailey-Lander, president of the Bloomington-Normal Association of Realtors, says there was a 12.8 percent decrease in the number closings of newly-built homes during June compared to last year. But she says pending sales during the month were up slightly.

"Those, actually year-to-date, exceed what we had last year. Just by one percent, but we were just hoping to catch up with last year and hopefully exceed it this year," Stailey-Lander said.

Ralph Weisheit

Home sales in the twin cities increased over the past several months and it is due to an unlikely helper.

Karen Stailey-Lander, president of the Bloomington-Normal Association of Realtors, said the economy actually helped increase real estate sales the first five months of this year.  

"I think buyers out there have much greater confidence in the economy at this point, so we're just seeing an increase in sales, really across the board," said Stailey-Lander.

Alan Ferguson / Creative Commons

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.

Alan Ferguson / Creative Commons

More homes sold in the twin cities in 2015 than during the previous year.. That's according to the end of year Bloomington-Normal Association of Realtors report.  Overall sales were up 5.6% last year from the year before. 2,780 transactions were recorded.

The price of existing homes that changed hands this past year was up slightly, .7%. New home prices dropped 1.4% from the previous year. President of the Bloomington-Normal Association of Realtors, Amanda Wycoff, says the currently low number of homes on the market, 622, means it's a seller's market.
   

City of Bloomington

Alderman voted 6-1 to approve changes to the City of Bloomington's rental inspection program. The change in fees will pay for an additional inspector. Mayor Tari Renner joined Mike McCurdy on Sound Ideas to talk more about the changes to the ordinance. He calls the change in the fee structure "minor."

During Sound Ideas, the Mayor also talked about his State of the City remarks and options to manage or divest golf courses.

Home sales were down for November in Bloomington Normal by about 5% compared to the same month last year. The Association of Realtors says year to date sales remain up by the same amount, about 5%.

The comparison is also true for average prices, down several thousand dollars for the month compared to last year, but up slightly for the first eleven months of the year. The average price to buy a home a year ago in Bloomington-Normal was just over $169,000.  Last month that price was close to $166,000. In November of 2014 the average home price was $174,000.
 

City of Bloomington

The Rental Property Inspection Program in Bloomington is now more than a dozen years old, but has never really worked well. 85% of the city’s rental units have a failing grade, meaning the property has one or more issues that pose a risk to health or safety.

Clarification: Since this interview, City of Bloomington officials pointed out that 85% of only the property inspected gets a failing grade. The city's inspector is currently inspecting 50% of units in Bloomington.

Home sales in Bloomington Normal were up 21% last month from September of a year ago. The Association of Realtors also says through three quarters of the year, home sales are up 7.6%. Growth for the third quarter slowed from previous quarters this year. Third quarter sales increased just under 4% as the area absorbed news of the coming Mitsubishi plant shutdown.

The average price of a home sold has increased slightly for the year and for the month.

Sales of new homes remain a very small part of the total. All of the growth last month was in sales of existing homes.