Maloof Reaches Into Bloomington-Normal Housing Market With Crowne Merger

The leaders of a newly combined real estate company are bullish on the housing markets in Bloomington-Normal and Peoria, despite slowing sales and a dip in prices in 2019.

There were 2,408 home sales in McLean County in 2019, down 6.2% from 2018, according to Illinois Realtors. The average price of a home fell 3.6% to $159,000.

Low inventory continues to be a drag on the Bloomington-Normal market, especially in the $150,000 to $275,000 price range, said Tammy Heard, executive vice president at Peoria-based Jim Maloof/Realtor, which recently merged with Heard’s Bloomington-based Crowne Realty. There’s also been less corporate relocation, she said.

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