Status of the South Bend Area Housing Market: 12/1/2007

by Nick Molnar on December 2, 2007

There has been plenty of coverage of the housing market in the national news, so this month I’ll just provide the local numbers.

Houses Listed as of 12/1: 2,328
Houses Sold 11/1 – 11/30: 277
Low price sale: $1,100
High price sale: $610,000
average price sale (mean): $106,735
average price sale (median): $89,900
About 12% of listed houses sold this month.

Townhouses/Condos Listed as of 12/1: 85
Townhouses/Condos Sold 11/1 – 11/30: 10
Low price sale: $47,000
High price sale: $342,599
average price sale (mean): $162,890
average price sale (median): $146,950
About 12% of listed townhomes/condos sold this month.

Villas Listed as of 12/1: 65
Villas Sold 11/1 – 11/30: 5
Low price sale: $155,000
High price sale: $508,322
average price sale (mean): $281,334
average price sale (median): $275,900
About 8% of listed villas sold this month.

November_Market_Graphs


{ 1 comment… read it below or add one }

BG December 8, 2007 at 12:36 pm

Thanks for adding median price to your monthly reports. That will be an interesting statistic to watch.

It will also be interesting to watch your charts in future months once they have more than 1 year of data in them.

Just looking at these charts, it doesn’t look too good for the winter months. There are 400 more houses on the market now compared to January 2007.

If sales are similar to last January and February, we are looking at about 11 months worth of inventory. And if listings pick up it could be worse than that.

Thanks for taking the time to do this every month.

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