By: Diane Benjamin
I haven’t done a list of recent home sales in quite awhile, so here’s one based on random sales this month. I tried to pick a variety of price ranges and some from both Bloomington and Normal. The information comes from Zillow and County records. Any of the properties can be looked up by PIN number here: http://mcleanil.devnetwedge.com/
13-35-403-002 Bloomington
Bought in 2004 $165,000 Sold in July $168,000 Listed in January for $175,000
14-22-276-001 Normal
Bought in 2006 $166,500 Sold in July $166,000 Listed in April for $176,900
21-03-458-001 Bloomington
Bought in 2012 $131,750 Sold in July $178,000 Listed in May for $167,000
14-15-376-018 Normal
Bought in 2005 $225,500 Sold in July $230,000 Listed in April $244,900
14-29-127-026 Normal
Bought in 1994 $159,000 Sold in July $215,000 Listed in April $219,900
14-22-452-018 Normal
Bought in 2009 $137,000 Sold in July $137,000 Listed in February $134,900
21-03-380-009 Bloomington
Bought in 2013 $127,500 Sold in July $137,000 Listed in February $142,000
13-34-428-004 Bloomington
Bought in 2008 $360,000 Sold in July $281,120 Listed in March 2018 $355,000
14-34-429-004 Bloomington
Bought in 1999 $123,000 Sold in July $165,000 Listed in May $163,000
14-14-102-010 Normal
Bought in 2011 $315,001 Sold in July $292,000 Listed in February for $344,900
This is easy to do if you want to see other sales. Go to Zillow.com then search Bloomington-Normal, click the SOLD tab.
Your higher priced homes ($300k+) are going down, sometimes in a big way.. I would also guess this one involves some sort of renovations:
Bought in 2012 $131,750 Sold in July $178,000
Tip of the iceburg. Can you imagine anybody, ANYBODY, seriously considering relocation to McLean County,
Illinois? We were already “behind the 8-ball” climate wise–weather and Illinois politics. But add Tari, Crazy Jenn, Koos, Anitfa terrorists, Black Lives Matter and Bike BLONO thugs, Connect Transit, Pride Fest, the local media, taxes, crime rate–Come on people, it is rapidly becoming a s—hole. Unless you are stuck here with a longterm job commitment, aging parents, or are one of the lucky ones with a home and neighborhood you still love, this is a putrid and dying location. Thanks Libbies–you own it!
Is it really *that* bad here? This is such an over exaggeration of this community – clearly you have never lived in a larger place than this to know how good we have it here… and no, I’m not a ‘libbie,’ as you do rudely labeled humans with their own individual stance on life (I’m not even close). But I’m certainly no longer interested in this blog, at best, that seems to want to drum up slanted drama. I choose to focus on the positive in my life, and the opinions here serve no purpose in that. For the record, I love it here. It’s a great place to raise my family, it’s just big enough and just small enough. If you aren’t for progression into the future, Amish communities still exist 🤷🏻♀️🤷🏻♀️
New home building is an indicator of local vibrant economies or upward mobility in the housing market. Granted, several BN homes in the early 90’s were built on spec but you get the idea. Neither is happening now.
I appreciate the anecdotal, Diane. I do wonder about the macro community numbers, though I suspect the local real estate agents use the same “hometown” math as disConnect Transit. That aside, homes listed for over $250,000 or $300,000 appear to be a hard sell without the seller negotiating down. Lower-priced homes in the $125-150k range seem to have the best traction or the sweet spot from what I’m hearing. This brings me back to previous comments made on this site in which it’s been argued that higher-paying and (usually) higher-skilled jobs are being replaced by lower-paying and (usually) lower-skilled jobs. Big Red transferred out a great deal of tech and management jobs to hubs while relocating claims and other support staff to Bloomington. The jobs coming in and leaving might be 1 to 1 human, but it appears not necessarily in terms of salary and skill set.
Compound that with the fact that interest rates right now are decent.
And with SF not replacing “locals” there’s gonna be even MORE! I have no less then 3 neighbors with LESS then 5 years left at SF, and they are ALL out of here when they retire. One to the South, and the other 2 to the SW..
I have been a realtor since 1987 mostly in the Heyworth area. Homes do sell rather fast but CHEAP! 50% of sales are BELOW prices paid in the last 10 years or so. 32% are in line and 18% sell for more…usually after major improvements. Back in the 1990’s homes appreciated at an annual rate of 4-7%. Heyworth boomed from population of 1,731 in 1990 to 2,841 in 2010. Taxes were cheap and lots were reasonable. All that is gone. Taxes have well more than doubled and jobs in the area have left. Super high taxes drive rents up and property values down. You will soon see rising taxes on falling property values…yes things CAN get worse!
retired and looking to pull out of b/n completely in the next two years or so (aged parents locally and a kid still in college in chicago). been in our home for 17 years. paid around $280k for it and have plunked down another $80k in updates and maintenance. will be shocked – and thrilled – if we get the original selling price for it when it’s time to go. by comparison we purchased our previous home in 1996 for $116k and sold it in 2002 for $138k…kinda how it should be.
Diane – add my recent home sale to the list. We paid $362,000 in Sept 2008. I made approximately $100K in additions/remodeling/improvements over the years and started out listing at $447,000 in Spring 2017. After listing/relisting 5 different times over 2 years with 3 different realtors and many price drops, last listing was reduced to $345,000 and finally got it sold for a price of $332,000. Talk about taking a beating. I ended up buying a small house out of town and out of city limits and do not want my money tied up in BloNo real estate!!!
Life outside a municipality is much better, sorry you had to lose to be free.
I have lived in other areas around the country, and looked at moving to Indiana or another area. Our community has a great focus on education, sports and family values. We should be focusing on keeping the bloomington bubble. Even if our children move away to successful careers elsewhere we should emphasize that they are successful now because they were raised here. Our marketing plan needs to focus on what we are doing right. If you want to live in an area with good schools and reasonable prices for a family, then you should consider moving here. Our most pressing need is community safety because if we lose that, we will lose our best recruiting tool.
“Our community has a great focus on ……….. family values.”
I laughed so hard at this I nearly fell off my chair…….Then I cried.