Latest data show modest Twin-Cities home sales slide

Posted on September 27, 2017

 

Latest data from the Bloomington-Normal Association of Realtors show existing home sales declined 0.6 percent during the first eight months of the year, compared to the same time last year.  (Photo courtesy zyclassifieds/Flickr)

By Howard Packowitz

Home sales, a key indicator of Bloomington-Normal’s economic health, are a bit weaker so far this year, compared to the same period a year ago. However, the average sale price for an existing home went up in August compared to year-ago levels.

Latest data from the Bloomington-Normal Association of Realtors show existing home sales declined 0.6 percent during the first eight months of the year, compared to the same time last year.

The association reported 1,878 purchases of existing homes from January through August, a dozen fewer than the same time last year.

For the month, realtors sold 270 existing homes, better than July’s total of 252, but softer than this year’s high of 333 sales in June.

The average sales price for an existing home during August was $171,033, or 3.7 percent above the price in August of 2016.

The association said sales of newly-built homes are down 12.9 percent from the first eight months of 2016. Only 11 new homes were purchased in August and only 101 for the entire year.

Howard Packowitz can be reached at [email protected]

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