South Bend Real Estate Report: October 2008

by Nick Molnar on November 1, 2008

As of November 1st, there are 2,657 residential properties for sale in the local mls. 509 homes that were for sale expired this month, but most were listed again for sale.
In October, there were 250 sales for $29,059,500. That’s down a bit from September’s 274 sales.

The most expensive sale price was $525,000, on a property listed for $599,000 that had been for sale since mid March. The lowest sale price was $4,200 on a property listed for $10,900 that had been for sale since late June

Condos and townhomes
Three condos near Notre Dame sold this month.

  • A Jamison Condo for $160,000
  • A condo in Woodbridge for $79,000
  • A River Point condo, for $190,000
    *This closed 10/31 but hasn’t yet hit the mls as sold.

Noteable this month:

  • There were no closings at Irish Crossings this month. That’s the first month since March without a sale in the complex. MLS records indicate there have been 34 sales, there are 3 pending sales, and 10 available units at Irish Crossings.
  • There have been no sales at Oak Hill since June, despite the fact that ~10% of the complex is for sale. The Jamison condos are very similar to Oak Hill. The sale in Jamison this month closed for $160,000. The Oak Hill condos for sale are listed from $168,500 – $199,000 with an outlier of two combined units listed for $259,000.
  • Eddy Street Commons opened a reservation process for their first set of condos – those that wrap the parking garage, dubbed “Legend’s Row.”

{ 2 comments… read them below or add one }

Jane November 1, 2008 at 10:04 pm

There have been at least 14 sold Irish Crossings homes that have not gone through the mls. I don’t know why they don’t go through the mls but some don’t. Just check the recorded deeds to see the actual transfers.

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John November 5, 2008 at 10:57 pm

Another interesting graph would be the number of single family permits pulled each month over the last several years in St. Joseph County. That would be helpful to know. I wonder how much residential construction is actually down.

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