Home sales in Bloomington Normal continue well ahead of last year's pace for October. Whether the 40% increase for the month will continue is uncertain according to Realtors Association President Thom Jones. Jones says last year the winter was very mild and sales continued through the traditionally slow period. It's unclear whether mother nature will be that obliging this year. Jones also says new building codes going into effect next year will add four to five thousand dollars to the cost of a new home.
206 homes and condos sold last month in the twin cities at an average price of $175,000. Through the first ten months of the year sales are running more than 22% above last year's pace. Jones says average time on market is fairly steady at over three months. And the inventory of homes for sale is down slightly to a little more than 1,100. He says that is probably because of a seasonal slowdown as people decline to list homes until spring comes.
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