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July home sales up sharply

Mon, 13 Aug 2012 14:59:09 CDT
By: Charlie Schlenker

Home sales continued growing last month in Bloomington Normal. The Association of Realtors reports sales rose 21% for the month, the ninth consecutive month of increases. Association President Steve Rader says other indicators are also rising.

So far this year, the average price of a home sold in the twin cities market tops $170,000. Rader says the average time on market of about 110 days is also down by more than two months compared to the same time last year. The only negative metric reported is the average price of a new home sold, which is down about 1.2% compared to July of last year. Rader says that has to do with builder choices to put up less expensive homes.


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