Bloomingdale's 2nd quarter home sales have continued to drop, but the values have grown.
The graph above shows the decreases in the number of homes sold in Bloomingdale over the 2nd quarters of 2005-2008. The number of homes sold is down about 58% compared to 2005, and about 54% less than last year. The home sales for the 3 years prior remained relatively level, last year a slight drop, but this year has shown a significant decrease.
This bar graph shows what has happened to the home values over the same periods. Here you can see the growth over 2005-2007 mentioned earlier. You can see this year's 2nd quarter numbers are still above 2005 by about $33,400 (about an 8% increase in value over 3 years) and a slight increase over 2006 by about $8,200. In 2007 there was a spike in value, but unless you bought in 2007 and sold this year it would not have effected your pocket book.
The national media has stated that the housing prices topped out in early 2005 and began to decrease in 2006. You can see here that that is not the case in Bloomingdale. The good news is that home values are up in Bloomingdale regardless of what has been happening on the national level.
If you would like an accurate home valuation or are looking to buy a home, contact your Bloomingdale Realtor.
This information was obtained from the Multiple Listing Service of Northern Illinois and is considered to be accurate, but not guaranteed. The search included average prices of detached single family homes only.
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