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B/N Home sales take off in April

Tue, 08 May 2012 14:20:04 CDT
By: Charlie Schlenker

Home sales in the Bloomington-Normal area continued upward in April. Realtors Association figures show sales of homes and condos rose nearly 28% for the month and are now up 23% year to date. Association President Steve Rader says he's excited at the trend.


One decline is in the average price of a home sold, at about $150,000. That's the lowest monthly average price since March of 2009 as sales of new construction continues to be anemic. But, Rader says he's optimistic because inventory is falling.


Rader says he thinks more renters will also enter the buying market, as rental rates rise.


230 homes and condos changed hands last month in the twin cities. Rader says pending sales are up nearly 30% at the end of April as the marketplace enters its peak months before school begins again in the fall.

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