We Value Bloomington-Normal

According to IAR's latest report, total home sales (single-family and condos) were up 10.9 percent in May 2007 to 14,349 homes sold compared to 12,932 homes sold in April 2007. Sales were 18.6 percent below the 17,622 homes sold in May 2006.

The Illinois median home price in May was $205,000, equal to the median price a year earlier.

"Overall sales are improving each month and we are still seeing positive gains in the median home sale price in many market areas in the state despite the overall housing market adjustment we are experiencing. Illinois REALTORS are reporting homes that are priced correctly and in move-in condition are selling,” said IAR President Robert Zoretich.

“We continue to be in a strong buyers’ market with interest rates inching up and inventory levels giving buyers a greater variety of homes. Sellers are gradually becoming more realistic and flexible in the pricing of their properties.”