Year End Review of Bloomington, In Real Estate

Real Estate Agent with RE/MAX Realty Professionals

Monroe County Residential Real Estate Year in Review

This study concerns only residential real estate in Monroe County Indiana.  It does not include residential investment properties, land/lot sales or any commercial activity.  In this review the Bloomington MLS is the sole source so the review does not include any private sales activity.  So without further ado, here are the numbers:

                                                            2010                            2009                % of Change

Total Listings                                     2,600                           2,481               4.29%

Total Sales                                         1,208                           1,375               -12.14%                     

Median List Price                              $154,900                     $147,500         5.01%

Median Sale Price                             $149,576                     $142,000         5.33%

List/Sale Ratio                                       96.01%                        95.85%        0.16%

Average DOM                                       79                                121              -35.16%

The glaring stat here is that the number of listings was up and the number of sales was down in 2010 yet the DOM (Days On Market) were down and the Median Sale Price was higher in 2010 than in 2009.  The list to sale price ratio remained almost unchanged.  The DOM has to do only with listings that sold and closed.  Many, of course, did not sell so the average DOM for the market, sold and unsold, is much higher.  This should be a warning to seller in 2011 to price the home correctly in the beginning.  They will get it sold much faster and for more money.

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