How is the Bloomington Market???

BETTER THAN YOU THINK!

The list to sale ratio (Sales Price Compared with Listing Price)

Year End 2007 U.S. ..... 97% Indiana ..... 98% Bloomington 97.1%

Comparing the years -



Market Comparison Residential Homes Sales in Bloomington MLS

List Price Sold Price DOM List to Sale
Ratio

Dec-06
List Price $17,179,891.00
Sold Price $16,549,150.00
Days on the Market 106
List to Sale Ratio 0.963

Dec-07
List Price $21,461,230.00
Sold Price $20,735,809.00
Days on the Market 114
List to Sale Ratio 0.966

Difference
List Price $4,281,339.00
Sold Price $4,186,659.00
Days on the Market 8
List to Sale Ratio 0.003


Jan-07
List Price $11,508,012.00
Sold Price $11,113,382.00
Days on Market 110
List to Sale Ratio 0.966

Jan-08
List Price $13,689,503.00
Sold Price $13,327,773.00
Days on Market 127
List to Sale Ratio 0.974

Difference
List Price $2,181,491.00
Sale Price $2,214,391.00
Days on Market 17
List to Sale Ratio 0.008

NOTE: The list to sale ratio is the percentage of price paid in comparison
to the asking price of the home.


2006 DATA
List Sale List to Sale Ratio Average Days on Market
Qtr 1
LP $62,216,876
SP $ 59,953,563
LTSR 96.4%
DOM 126

Qtr 2
LP $125,923,217
SP$121,952,239
LTSR 96.8%
DOM 117

Qtr 3
LP $102,114,447
SP$ 99,176,435
LTSR 97.1%
DOM 105

Qtr 4
LP $ 58,032,298
SP $ 56,494,009
LTSR 97.3%
DOM 101

Year
LP $ 348,286,838
SP $ 337,576,246
LTSR 96.9%
DOM 112

2007 DATA

Qtr 1
LP $55,634,291
SP $54,005,266
LTSR 97.1%
DOM 121

Qtr 2
LP $115,093,124
SP $111,795,661
LTSR 97.1%
DOM 106

Qtr 3
LP $104,068,719
SP $100,906,407
LTSR 97.0%
DOM 103

Qtr 4
LP $62,924,828
SP $61,307,078
LTSR 97.4%
DOM 112
Year
LP $337,720,962
SP $328,014,512
LTSR 97.1%
DOM 111

DIFFERENCE 2006 vs. 2007

Qtr 1
LP $-6,582,585
SP $-5,948,197
LTSR .7%
DOM -6

Qtr 2
LP $-10,830,093
SP $-10,156,578
LTSR .3%
DOM -10

Qtr 3
LP $1,954,272
SP $1,729,972
LTSR -.2%
DOM -2

Qtr 4
LP $4,892,530
SP $-4,813,069
LTSR .1%
DOM 11

Year
LP $-10,565,876
SP $-9,561,734
LTSR .2%
DOM -2


And there you have it. Sales volume ended a little lower last year from 2006 but the percentage of price paid compared to asking price was up by 2% and the days on the market was down by a couple of days overall.

The absolutely encouraging and exciting news is that December of 2007 was better than December of 2006 and now January of 2008 was better than January of 2007.

These numbers certainly do not reflect the national gloom and doom stories we hear about every day. The bottom line is that college towns have a lot to offer as the future vision of retirement does not look like 5:00 early bird specials on dinner and fishing off the pier all day. It looks more like nightlife, theater, golf, culture, arts, music, ballgames and much more. It also required good medical facilities and physicians. It also requires great places to eat nice evening meals out on the town! What meets all of these criteria? COLLEGE TOWNS! We win!!!

We have it all and then some. We also have needs for housing for undergraduate rentals, graduate and doctoral first time home buyers, educators, medical service providers, international students and so many more diverse cross sections of potential home buyers.

What does this mean? It means that with the somewhat flat year in 2007 and the upward trend we see from December sales to current sales and the low interest rates this is a prime time to buy. As a matter of fact over the past decade, there has never been a better time to buy real estate. Don't miss it.