"We need more houses in Bloomington, Patty Hadley of RE/MAX Choice told HousingWire. Our local government has started a few programs that are going to be helping with getting that accomplished, and we're really excited about it. The houses keep moving pretty quickly. I had a house that was on the market for two months, which is unusual, but it was the time between Thanksgiving and Christmas, and that's always a little bit slower. It's a really exciting time here and in central Illinois."
"Normal is strong. Like I said, we don't have enough houses in Bloomington, so we end up with a lot of people getting displaced in housing within 30 miles of the area. Bloomington also keeps a lot of people here because we have a lot of industry there's State Farm, we have Rivian, Carle Health, lots of things that keep people in our town. I can see that making our market stand out."
"The Midwest features prominently among the hottest markets with Illinois and Ohio each claiming multiple spots. Lawrence, Kansas; Sandusky, Ohio; Kankakee-Bradley, Illinois; Mansfield, Ohio; and Bay City, Michigan, all rank near the top due to tight supply and steady buyer interest. College towns also appear to be playing an outsized role. Bloomington-Normal; Lawrence; and Ithaca, New York, benefit from stable employment bases and consistent housing demand tied to universities, even as broader market conditions fluctuate."
Bloomington-Normal, Illinois currently has 0.4 months of inventory and a median list price of $355,000, up 16.4% year over year. More than one-third of listings have price cuts, yet sales remain rapid and prices continue to climb. Local agents report high demand and insufficient supply, prompting displacement of buyers to communities within roughly 30 miles. Local employers such as State Farm, Rivian, and Carle Health support stable employment and sustained housing demand. Several Midwest markets, including Lawrence, Sandusky, Kankakee-Bradley, Mansfield, and Bay City, also exhibit tight supply and steady buyer interest. College towns show persistent demand tied to universities.
Read at www.housingwire.com
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