8. Bloomington-Normal, Ill.
Total population (2009): 167,699Median sales price (Q4 2010): $167,700
Median sales price % change (Q4 '09-Q4 '10): 14.3%
Sales volume (# units sold in 2010): 2,052
Sales volume % change (2009-10): -9.7%
Unemployment rate (Dec. 2010): 6.7%
Foreclosure activity rate (2010): 1 in 1,194 units
The median sales price in the Bloomington-Normal metro area rose 14.3 percent between fourth-quarter 2009 and fourth-quarter 2010, to $167,700. During that time, median price rose every quarter except the third quarter of 2010, when it remained essentially flat from the previous quarter.
Bloomington-Normal's population grew 14.2 percent from 2005-09, according to the U.S. Census Bureau. By contrast, the nation's population grew 6.5 percent during the same period.
Bloomington-Normal's major employers include State Farm Insurance, Illinois State University, Country Financial, Advocate BroMenn Medical Center, Mitsubishi Motor Manufacturing, Nestle USA and the local school district.
"The unemployment rate … is extremely low due to the fact that we have more degree-earning citizens per capita in our local economy. This economy, while having employers such as Mitsubishi, is not solely based in durable goods, but rather in a service-based marketplace. The median family income is $75,550 whereas the state average is about $59,300 ", says Les Sohar of Re/Max, an International real estate expert.
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