What have home prices been doing in Bloomingdale this year?
Median home prices in Bloomingdale IL are have been rising substantially over the last year. We’re currently seeing a median list price of $289,900. The chart below is a good comparison of median list prices vs. median sales prices in Bloomingdale IL. As you can see, home buyers and sellers have been fairly aligned. This indicates home sellers are pricing their home at what the market will bear.
Are home prices in Bloomingdale IL going up or down?
Home prices in Bloomingdale jumped 28.6% in March compared to February. The median sales price right now is $250,000. We’ve seen a year-over-year increase in home prices of 8.7%. Bloomingdale homes are definitely appreciating and this trend is only expected to continue.
Is Bloomingdale in a buyers or sellers market right now?
If you’ve been on the fence about selling your home, now is a great time! Inventory of homes for sale in Bloomingdale is low at 3.5 months. Anything between 3-6 months could be considered a stable market so we’re right at the low end of that. Inventory below 3 months puts us in a sellers market where prices can rise and market times fall. Over 6 months and a buyers market takes over resulting in lower prices and longer market times.
What types of homes are for sale in Bloomingdale right now?
A lot of Bloomingdale homeowners may be concerned about foreclosures and short sales dragging down the market. Actually, we’ve seen the numbers of bank-owned and distressed properties drop in Bloomingdale. In March, 88% of homes for sale were traditional sales. There were only 4 foreclosures on the market, down dramatically from last year. Short sales are on the decline also remaining at their lowest point since February 2008. Home prices in Bloomingdale IL are not being affected by these factors.
How long is it taking to sell a home in Bloomingdale right now?
The median market time for a home in Bloomingdale is at 35 days. This is down from last year when market time was at 45 days. This indicates a strong buyer pool.
Want a rough idea of your home’s current value?
Fill out the form below to view an online analysis of your Bloomingdale IL home price. While not as accurate as meeting with us in person, it can help you determine if selling your Bloomingdale home makes sense right now.
Looking for something more accurate?
The Kombrink Lobrillo Team at RE/MAX All Pro takes a very analytical approach to pricing your home. Using a process similar to that of an actual home appraiser, our in-depth analysis produces a pricing strategy to get your home sold for top dollar in the least amount of time. Combine that with our top notch marketing strategy and we’ll help you realize your real estate goals before you know it.
Contact our Bloomingdale Listing Specialist, Matt Kombrink, today to arrange for a complimentary home pricing analysis of your home. Matt can be reached at 630-488-3300.