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Recovery Continues In Bloomington Normal Realty Sector

Thu, 16 Jan 2014 18:18:06 CST
By: Charlie Schlenker

Home sales in Bloomington Normal finished the year on a slight upswing from November to December. The Association of Realtors reports for the full year, sales of single family homes, condos, and zero lot line residences were up 14.4%. Association President Chuck Montgomery says rental rates have begun to fall as a result of the layoffs of temporary workers at State Farm Insurance. But, he says he doubts the planned drawdown of several thousand insurance industry workers in town over several years will much affect home SALES.

   
For this year, Montgomery says he expects less new residential construction, which might affect the average sales price in Bloomington Normal. The average price of a home sold in 2013 was up just under 1% from the previous year. Last year, the average price was just under $172,000.


   

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