How is the local Real Estate Market?

By:  Diane Benjamin

Are property values dropping in Bloomington-Normal?

These are random samples of recent home sales.  This data was taken from either the County website or Zillow if those records were listed as Public Record.

 

Bloomington:

4 Timbers Court   Sold in 2008 for $295,000; sold in April 2018 for $295,000  (first listed in 2015)

18 Crystal Court  Sold in 210 $158,000; sold in May 2018 for $142,000

2803 Longmeadow Lane  Sold in 2002 for $190,000; sold in April 2018 for $228,000

2803 Richard Road Sold in 2013 for $162,000; Sold in May 2018 for $153,000

3412 Crossgate Dr Sold in 2007 for $216,000; Sold in May 2018 for $217,500

1315 W Market Property was for sale in 2016 for $58,000; Sold in April 2018 for $34,000

511 W Oakland This looks like a flip house – Bought in 2007 for $44,000 listed in 2008 for $129,000′ Listed and removed numerous times, sold in April 2018 for $85,000

According to Zillow, David Hales took his home off the market, Rob Fazzini’s house is still for sale:     https://blnnews.com/2018/06/01/karma-for-david-hales/

Normal:

2004 Dream Drive Sold in 2016 for $204,300; Sold in April 2018 for $200,000

203 N Bone Drive Sold in 2010 for $139,000; sold in April 2018 for $142,500

724 Hale Street  Sold in 2005 for $120,000; Sold in April 2018 for $108,000

1203 Bryan Dr  Sold in 2010 for $127,00;  Listing shows lots of updates – Sold in April 2018 for $163,000

102 East Stewart Place  Sold in 2013 for $107,000; Sold in May 2018 for $111,000

507 Marian Ave  Sold in 2007 for $125,000; Sold in April 2018 for 118,500

900 Fairchild Ave  Sold in 2008 for $126,500′ Foreclosed/Sold to lender in 2017 for $81,760; Sold in May 2018 for $77,000

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15 thoughts on “How is the local Real Estate Market?

  1. Interesting last week I don’t usually look at listing and I saw some condo’s for sale that I looked at back in about 2004. They appeared to be selling for less now than back in 2004.

    Liked by 1 person

  2. The was an article quoting the local realtor association in the Pantagraph recently staying home prices and sales volume is down. I know in my neighborhood houses are not selling for what they were purchased. Interest rates are rising which scares buyers.
    🐥

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  3. Everything is fine, Diane. Just ask the pom-pom cheerleaders at the Chamber of Commerce, EDC, BN Advantage, and both city halls. We’re a destination! Haha. Right!

    Liked by 1 person

      1. The TDS is quite severe in him – we have to remember at stage 4 they lose all ability to reason intelligently at all and simply shriek RUSSIA! or remain in a state of delusion as to how the overall “Trump-effect” has been to the betterment of the country as a whole in almost universal ways. This poor guy simply can’t comprehend that Democrat/socialist type areas such as many parts of Illinois and California will not be able to benefit from the overall improvements unless they reign in their leftist “leaders”.

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      2. So what, you delete anyone you disagree with? Trump promised 4 percent growth and is touting low unemployment. That’s far from what is actually happening. Trump’s foolish tariffs are hurting farmers in Illinois right this moment as I write. His tariffs are also hurting American manufacturers in Illinois and around the country.

        We shriek Russia? Well Trump seems to be compromised by Russia each and every day. His performance at Helsinki was incredibly damaging to this country.

        Finally the price of real estate and homes have many factors that go into why it selling for a certain price, one being location, there are other factors that you not discussing here like market forces in the area.

        Democrats are not “socialist” “type”, when you start labeling the opposition as such you lose your credibility. As for the supposed Trump “derangement” syndrome there must be a lot of people who “suffer” from this–Trump’s negatives are high especially after his European trip and surrender to Putin.

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  4. You need to look at the higher priced homes to see the price collapse. Last time I checked there was an approximate 4 year supply of homes for sale above a price point of $300,000.

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    1. I was taking a kid to visit his friend in an expensive East side neighborhood recently. Of the approximately 50 houses I drove past, I counted 9 for sale. I looked the area up on Zillow, and NONE of these houses are being listed for what they were purchased for, and some listing prices were down over $200K from previous sale data. Now this was in the “North of $500K” range, which is a tough spot to be in, but the over-all market is scary, to be sure.

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    2. I live in Hawthorne Hills. Bought for $362,000 in 2008. I’ve invested over $100,000 in improvements (2 additions and remodeling). Started out listing at $447,000 about 2 years ago. After many price drops ending at $349,000 a few months ago and no offers, we pulled house off the market. It’s THAT bad on the NE side of town….

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