The Bloomington Normal Illinois area experienced a strong boost in existing home sales in April of 2007. 70 more existing homes were sold by REALTORS in April compared to March, an increase of 43% in one month, according to statistics from the Bloomington-Normal Association of REALTORS.
Sale of existing homes have increased 2.7% from last year's start-637 homes in 2007 compared to 620 homes in 2006. New construction sales have dropped by 5 to 23 compared to 28 in March. Overall 2007 new home sales have dropped about a third from a year ago.
Nationally, total existing home sales have dropped 2.6% in April, according to the National Association of REALTORS. Sales of new homes jumped 16.2%, but prices decreased 11.1%, according to the U.S. Department of Commerce.
The cost of new and existing homes in Bloomington-Normal increased in April. The average price was $298,880 for a new home and $147,894 average for an existing home.
Total Bloomington-Normal home sales are 3.7% lower than the first quarter of 2006; however home sales in Illinois were down 14.2% for the year, according to the Illinois Association of REALTORS.