The Bloomington-Normal Association of Realtors said 194 units were sold in September. (Photo By Flickr user AKZOphoto)
By Paul Morello
BLOOMINGTON - Despite a decrease in units sold in September, housing sales in Bloomington-Normal were still up 20.7 percent compared to last year.
Steve Rader, Bloomington-Normal Association of Realtors president, said Friday home sales start to slump in the fall and winter.
"Our unit numbers will drop as we go into the colder months, that's the natural progression. But all in all, it's still more than we had last year," he said.
194 homes were sold last month and 1,858 units have been sold year-to-date.
The average price of homes sold last month was $166,000, which was down about $14,000 from August. Rader said the drop isn't indicative of a slowdown in the housing market.
"Naturally, you sell more lower-priced homes than you sell higher-priced homes," Rader said. "I think that's what's pulling average prices down."
Rader said an average 30-year mortgage rate is 3.40 percent, and a 15-year fixed rate is 2.73 percent.
Paul Morello can be reached at firstname.lastname@example.org.