The South Bend Area MLS records show that in June 2010:

• 345 residential properties were sold
• 293 residential properties went under contract
• 545 residential properties were newly listed or re-listed for sale (that is not a count of all homes for sale, just those listed in June)

The 345 sales add up to $40.18 million in volume. That is about 13% greater than May 2010 (the previous month) and about 30% greater than June 2009 (one year ago)

Here is the long term graph

Sales Prices

The high price sale was 51795 Ashton Court in Granger’s Woodland Hills. It was listed for $1.89 million in January 2010 and sold for $1.35 million on June 30th. It previously sold for $1.75 million, in December 2007. That makes it the highest price sale in the South Bend MLS since June of 2008, when 51284 Shamrock Hills Drive sold for $1.4 million.

Here is every sales price for the month, at a glance

Financing

FHA loans accounted for the greatest number of sales and the second highest volume. Conventional mortgages accounted for nearly as many sales, and the highest sales volume. Cash sales continue to as an important, if lesser, market force and VA / other financing has yet to develop to more than a fraction of the market.

Notre Dame condos

New Construction

This continues to be a slow segment of the market, as reported through the MLS. I found 9 sales by Weiss homes and one by Place Builders that appear to be new construction. Prices ranged from $109,999 to $233,143. Six were financed with FHA loans, three were cash sales and one buyer obtained a conventional mortgage.

The South Bend Area MLS  records show that in May 2010:

• 285 residential properties were sold
• 208 residential properties went under contract
• 471 properties were newly listed or re-listed for sale (that is not a count of all homes for sale, just those listed in May)

The 285 sales add up to $35.58 million in volume. That is about 29% greater than the sales volume for April 2010 and 33% greater than the sales total from a year ago in May 2009.

Sales Prices

The high price sale was 11192 Pierce Road in Wakarusa, a farmhouse on 78 acres which sold for $680,000. For homes without such substantial land value, sales peaked at  $607,000 for 51285 Shannon Brook Court in the Shamrock Hills neighborhood of Granger. The home was listed for sale for $761,250 in August 2009 and previously sold for $725,000 in August of 2006 and $565,000 in February of 2003. Shamrock Hills also had last month’s high priced sale.

Other high price sales included 18230 Gilmore Drive in South Bend’s Bradford Shores, at $580,401 and three sales in Granger’s Woodland Hills:

• 16771 Orchard Ridge at $500,000 with $5,000 in seller concessions
• 51410 Hidden Pines Court at $465,000
• 16795 Woodland Hills Drive at $465,000

That is substantial activity for the neighborhood of about 100 homes and more sales than Woodland Hills saw in all of 2009. Woodland Hills currently has nine homes listed for sale, priced from $385,000 to $1.89 million.

There were nine sales under $10,000 and 51 sales under $50,000.

Financing

FHA loans again accounted for the greatest number of sales though conventional financing accounted for more than half of the sales volume for May. Cash sales were a significant market force, and VA loans and other financing continue to play small roles in sales through the MLS.

Notre Dame Area condos

The Notre Dame condo market remains soft on sales, though interest seems to have increased compared to past months.  There were four notable sales:

• 1407 Oak Hill Drive sold for $135,000. It was listed for sale in April of 2009 at $184,900 and previously sold for $143,500 in February of 2005 after trying asking prices as high as $235,000. It is a first floor plus finished lower level unit with 950 square feet on each floor and four total bedrooms (including the lower level) and 3 baths.  It was updated with granite counters and bamboo floors, and had a deck and garage.
• 18418 Killeen Court at Ivy Quad sold for $385,000. It is the mid-sized unit at the complex, “the Ardeen.” It is a newly built 2,800 square foot 4 bedroom, 2.5 bath townhouse.
• 926 Keenan Court sold for $155,000. It was first listed for sale January 2008 for $175,029. It is a 1,760 square foot condo with 3 bedrooms and 2.5 baths. It was built in 2007 but hasn’t been occupied.
• 5625 Irish Way #7 at the North Douglas Condos sold for $137,900. It is a 1,189 square foot 2 bedroom, 2 bath condo and the first sale in the project since a new investor took control of the development. It is in building 1, which was completed 2007/8.

New Construction

I count eight May sales in the MLS that appear to be new construction (not counting the Notre Dame condos detailed above). Notably,

• The most expensive is 18230 Gilmore Drive in South bend’s Bradford Shores. Built by Century Builders, the 2,782 square foot + finished lower level 3 bedroom, 3+2 bath home sold for $580,401.
• Weiss homes sold four houses, at $166,945, $160,000, $149,000 and $128,432.

If you are considering the purchase or sale of property in the South Bend – Mishawaka – Granger – Notre Dame Area and want a no-pressure, no-hassles consultation with the real estate brokers behind the South Bend Area Real Estate Blog, please contact us.

Sales Prices

Financing

Notre Dame Area condos

New Construction Sales

The South Bend Area MLS records show that in March 2010:

• 238 residential properties sold
• 299 residential properties went under contract
• 638 properties were listed for sale (includes properties re-listed after expiring unsold)

The 238 sales add up to$24.27 million in volume. That is about 84% higher than February 2010 and about 42% higher than one year ago in March 2009.

Sales Prices

The high price sale in March was 18256 Forest Glade Drive in South Bend’s Bradford Shores. It’s a 3,739 square foot + finished walkout lower level home built in 2008 by Blake Builders. They listed it for sale in July 2008 at $779,900 and closed March 31st for $625,000. The list price was $735,000 at the time of sale.

The low price sale was 5202 Roger St in South Bend. It sold the day it was listed for $2,900.

Here are all 238 sales prices represented visually on a scatter graph

Financing

FHA loans were the largest market segment, by number of sales and sales volume. Cash sales take second place by the numbers but fall a distant third by volume. Conventional financing accounted for nearly the same sales volume as FHA loans, but on fewer purchases. VA loans and other financing remains rare in the South Bend Area.

Notre Dame Condos

There were no closed sales for any condos near Notre Dame in the MLS for March. Notably, an Oak Hill condo went under contract.  1407 Oak Hill Drive H4 is a 2 bedroom, 2 bath + finished lower level with 2 bedrooms and 1 bath condo. It has a small deck and one garage stall, and was listed at$145,000. It went under contract March 30th and was listed at $145,000 at that time. The sales price won’t be available until the transaction is complete.

This is the first activity other than new listings in that complex since the sale of 1557 Oak Hill Drive A7 in October, 2009.

New Construction

It was generally a tough month for builders. I found nine sales that look like new construction in the MLS. More than a few of them sold at steep discounts, as short sales or foreclosures.

18256 Forest Glade Drive, detailed above as the high price sale for March, sold at $625,000. It had been priced as high as $799,000 during its 600 days on the market. It was constructed by Blake Builders

Maxey Custom Homes sold two properties which appear to be short sales:

• 26694 Boulder Bay Drive sold for $375,000. It was originally listed for$625,000 in August 2007 with a price eventually rising to $685,000 before various reductions led to a final asking price of $535,000 at the time of sale.
• 18174 Baldwin Drive in Bradford Shores sold for $364,736. It was originally listed at $629,000 in September of 2008, and was priced at $559,900 at the time of sale.

23077 Keifer Way sold for $146,000 with $5,000 in seller concessions. It was a foreclosure that appears to have been built by Place Builders.

1332 Penn Ave in Mishawaka sold for $110,000 with $3,000 in seller concessions. It was a foreclosure previously owned by Cleland Builders. It was originally listed for $139,900 in August of 2008.

Weiss Homes sold four houses all of which appear to be normal sales:

• 6819 Lutz Dr in Lafayette Falls at $210,440
• 1526 Gauley River Dr in Ridgemont Crossing at $199,229
• 1327 Slater Drive in Lafayett Falls at $186,587
• 51578 Audubon Woods Dr in Audubon Woods at $153,200

Have Questions? Need Help?

That’s the most detailed and most current market data you’ll find for the South Bend Area (South Bend, Mishawaka, Granger and the areas near Notre Dame).  But honestly it’s still not good enough to base an informed decision about buying or selling property upon. Even if you are just curious about a certain neighborhood or market segment and especially if you need to make a financial decision related to real estate – call us. We’ll talk to you openly and honestly and never lock you in to working with us.

The South Bend Area MLS records show that in February 2010:

• 152 residential properties sold
• 247 residential properties went under contract
• 396 properties were listed for sale (includes properties re-listed after expiring unsold)

The 152 sales add up to $13.16 million in volume. That is about 37% higher than January 2010 and about 18% higher than one year ago in February 2009.

Sales Prices

The high price sale in February was 17564 Nittany Court in Granger. It closed for $462,500 in a cash deal. It previously sold for $530,000 in July 2003. The original list price of the home in April 2009 was $597,000.

The low price sale was 1106 Johnson Street in South Bend. It sold for $5,000 in a cash deal. It previously sold for $8,000 in January 2007 and $20,350 in May 2004. The original list price of the home was $24,900 in June 2009.

Here are all 152 sales prices, represented visually on a scatter graph:

Financing

Cash sales accounted for about half of the transactions by number of sales, but just over one quarter of sales by volume. Conventional mortgages were just over one quarter by number of sales but accounted for 44% of the sales volume. FHA loans were 22% by number of sales and 27% by volume. VA and other types of financing remain rare in the South Bend area.

Notre Dame condos

No condo or townhouse near Notre Dame sold through the MLS in February. There were condo sales in The Forest, Topsfield, Somers Square and Sandpiper Cove. Developers, if you sold (closed on)  a Notre Dame property outside of the MLS, speak up in the comments.

New construction

I found data for the February sale of three new homes in the MLS. All were built by Weiss Homes and financed with FHA loans.

• 11276 Harford Bay Dr in Osceola sold for $190,999 with $16,340 in seller concessions.
• 19733 Clara Ave in South Bend sold for $184,114 with $10,160 in seller concessions.
• 23080 Rumford Dr in South Bend sold for $124,999 with $5,000 in seller concessions.

Have Questions? Need Help?

This is the real scoop. It’s more detailed, more current, and less mangled than sales info you’ll find anywhere else for the South Bend Area. But honestly it’s still not good enough to base an informed decision about buying or selling property upon. Even if you are just curious about a certain neighborhood or market segment and especially if you need to make a financial decision related to real estate – call us. We’ll talk to you openly and honestly and never lock you in to working with us.

The South Bend Area MLS records for January 2010 show that

• 121 residential properties sold
• 201 residential properties went under contract
• 491 residential properties were listed for sale

The 121 sales added up to $9.6 million in volume. That is the lowest monthly sales volume going back as far as the South Bend MLS provides electronic records, mid 2001. It is also the first time the sales volume has fallen below $10 million.

Sales Prices

The most expensive sale was 51572 Norwich, which sold for $400,000. It last sold in 2001 for $375,000.

Two properties sold for $3,000, the lowest price. One of those, 234 Calvert sold for $5,000 in 2008 and for $18,000 in 2003

There were 14 sales under $10,000
There were 18 sales over $150,000

Here are all 121 sales prices, represented visually on a scatter graph

Financing

Cash accounted for more than half of all sales.  FHA and conventional loans each accounted for about 20% of the sales. VA loans and other types of financing remain uncommon here.

Notre Dame Condos

No condo or townhouse near Notre Dame sold through the MLS in January.  Several properties in neighborhoods like Mishawaka’s The Forest and South Bend’s Somers Square sold, but it was a slow month for complexes near Notre Dame. January is commonly slow for Notre Dame homes. In January 2009, there were two such sales. In January 2008, there were four.

New Construction

I found MLS data for the January sale of two newly built homes.
A Weiss built home in South Bend’s Royal Oak Estates, which sold for $211,225.
A Jeff Moser built home in Granger’s Stoneybrooke Shores, which sold for $328,400

Have Questions? Need Help?

While this is the most detailed and most current information you’ll find on real estate sales in the South Bend Area, there are significant details we can’t share here. If you need to better understand the market to make smart decisions, or need help buying or selling property call or e-mail. We’d be pleased to hear from you.

Searching the South Bend Area MLS for all sales in 2009 returns 2,964 sales for a combined total of $309,895,210.

The South Bend Area MLS contains information on 234 sales that closed in December 2009 with a cumulative volume of $25.04 million. That is down from last months $27.48 million in sales,  though up from December 2008′s $22.61 million in sales which was the lowest amount since our area’s MLS began keeping digital records in August 2001. The high volume mark was June of 2006 at $69.30 million.

Here is the long term sales graph:

Sales Prices

The high price sale was $440,900 for 125 Esther in South Bend. The home went under contract 11 days after hitting the market and sold without photos in the MLS.

The low price sale was $3,800 for 230 Calvert in South Bend, which went under contract about five months after hitting the market and sold with just one poor quality photo in the MLS. I won’t post it here.

There were a number of sales that caught my eye as notable discounts:

• 51345 Amesbury Way in Covington Shores sold for $419,000 about six months after hitting the market. It sold at a loss to the seller, who appears to have paid $500,000 for the home in July 2007.
• 1904 Golfview Court in Barrington Estates sold for $335,000 about 28 months after hitting the market in August 2007. The seller started with a list price of $635,000.
• 51245 Parisian Drive in Bradford Shores was a recent “lottery house” that was raffled off for charity. The winner sold it for $275,000 about seven months after hitting the market at $375,000.
• 420 Abbey in Dublin Village sold out of foreclosure for $180,000 about three months after hitting the market at $199,900. The previous owners tried to sell it without success, starting at$244,900 and lowering their price to $234,900 .

Here are all 234 sales prices, in represented visually on a scatter graph

Financing

Cash sales accounted for more transactions than either FHA financing or conventional loans and they dominate the market under $50,000.  70 of the 76 sales under $50,000 were cash purchases.

Condos, Townhouses and Select Villas

This was not an active month for sellers of condos and townhomes in our area. Just one Notre Dame Area townhouse sold at Dublin Village.

420 Abbey in Dublin Village is a 1,745 square foot, 3 bedroom, 3.5 bath townhouse. It was built in 2006 by the same construction company now erecting many of the new townhomes near Notre Dame. Its price of $180,000 was well below the $214,900 to $265,000 list prices of the six Dublin Village townhomes currently listed for sale.

145 Bridgewater Way, a 1,450 square foot 2 bedroom, 2.5 bath condo sold in The Forest for $128,000. That is down from the $158,500 it sold for in August 2005.

Unit 312 at Topsfield, a 1,000 square foot 2 bedroom, 1 bath condo, sold for $51,000.

1522 Peachtree Lane in Mishawaka’s Savannah Pass is a detached villa but is in a community with many attached unit and seems to fit here. The 1,112 square foot, 3 bedroom, 2 bath villa  sold for $123,900 down from the $145,000 it commanded in September 2006

There were two other condo-type sales in developments I don’t usually report in detail here. One was in the Somers Square condos, for $122,000, and one at the Jefferson Square townhomes for $74,000.

New Construction

18 December 2009 sales were reported in the South Bend Area MLS as new construction. They closed at prices from $99,000 to $324,305 and ranged from about $74 to $151 per square foot.

11 were built by Weiss Homes. 9 were sold with FHA financing.

Have Questions? Need Help?

While this is the most detailed and most current information you’ll find on real estate sales in the South Bend Area, there are significant details we can’t share here. If you need to better understand the market to make smart decisions, or need help buying or selling property call or e-mail. We’d be pleased to hear from you.

I started looking at year long statistics for the South Bend Area real estate market to begin work on an end of year summary and culled a few figures interesting enough to post now.

There are 472 homes listed for sale in the South Bend area for $50,000 or less. There are 470 homes listed for sale with a price of $200,000 or more. For all practical purposes the numbers are equal, but there are more homes on the market here priced under $50k than over $200k.

The number of sales however is far from equal. In the last year, 12/16/08 – 12/16/09:

• 963 homes sold under $50,000.
• 334 homes sold over $200,000.

The South Bend Area MLS contains information on 245 sales that closed in November 2009. They add up to $27.48 million in sales. That is slightly higher than October 2009, though lower than November 2008.

There has been speculation that the homeubuyer’s tax credit, which originally expired November 30th but has since been extended through June 30th, artificially inflated the number of sales last month.

34 sales were disclosed as foreclosures in the MLS which sold between $5,000 and $139,000.

Here is the long term sales graph

Sales Prices

The high price sale was $775,000 for 19000 New Road, a 1989-built 3,000 square foot home plus finished basement on 80 acres. For a home without significant land value, the high price sale was $465,000 in Covington Shores. It sold at a loss since the seller paid $480,000 for it in 7/07 and paid fees at the time of sale.

The low price sales were neighborhing homes at 720 and 724 Kenmore. They were sold at auction an brought in $3,200 and $4,600

for non auctioned homes, 617 walnut was the most affordable. It sold for $5,000 and was listed for $7,500 at the time of sale.

Check the scatter graph of the price of every sale in October 2009 below for a better sense of the market.

Financing

Condos and Townhouses

Though those numbers are somewhat misleading as Ivy Quad has a number of units for sale but listed just one in the MLS. It also doesn’t include the 50+ Champions Way townhomes that will be need to be sold at Eddy Commons or the other condos and townhomes that will be offered at Eddy Commons.

New Construction

That’s November 2009 by the number. If you have specific questions, put them in the comments or call / e-mail.