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BN Home Sales See Seasonal Drop In Sept

Thu, 10 Oct 2013 17:12:34 CDT
By: Jim Browne

Housing sales during September in Bloomington-Normal experienced a seasonal drop from the previous three months, but Association of Realtors president Chuck Montgomerie says he expects a strong finish to 2013. Montgomerie says buyers continue to snatch up less expensive homes, leaving pricer ones to languish on the market:

"We got a little bit of a larger supply of homes in the $250,000 to $350,000 price range, where homes in the $100,000 to $200,000 price range have remained steady and we have an average supply in that price range."

Montgomerie says builders are also concentrating on modest homes. Last month 220 dwellings changed hands, down from 315 in August of this year. The average price of a home in the twin cities in September was $179,000, up from $177,000 in August, and higher than any month so far this year except June, when home prices averaged over $188,000.

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