Home sales were down for November in Bloomington Normal by about 5% compared to the same month last year. The Association of Realtors says year to date sales remain up by the same amount, about 5%.
The comparison is also true for average prices, down several thousand dollars for the month compared to last year, but up slightly for the first eleven months of the year. The average price to buy a home a year ago in Bloomington-Normal was just over $169,000. Last month that price was close to $166,000. In November of 2014 the average home price was $174,000.
The average home sold in Bloomington-Normal this year was a resale, and cost about $156,000, while the average November price of a new home was $297,000, about $2,000 less than in November of 2014.
These are the first housing numbers since the effect of the Mitsubishi auto plant closure began to be felt. It's too soon to know if a small increase in interest rates will affect home sales down the road.
