Status of the South Bend Area Housing Market: December 2007

by Nick Molnar on January 1, 2008

First, December’s numbers. Between a seasonal cooldown and a national slump, they are the lowest of the year, but there are still sales. They include a 1.75 million dollar home, two Irish Crossings townhomes, and 69 homes under $50,000.

Houses Listed as of 1/1: 2,179
Houses Sold 12/1 – 12/31: 220
Low price sale: $3,500
High price sale: $1,750,000
average price sale (mean): $113,156
average price sale (median): $129,900
About 10% of listed houses sold this month.

Townhouses/Condos Listed as of 1/1: 67
Townhouses/Condos Sold 12/1 – 12/31: 5
Low price sale: $359,399
High price sale: $362,077
average price sale (mean): $202,295
average price sale (median): $305,900
About 7% of listed townhomes/condos sold this month.

Villas Listed as of 12/1: 67
Villas Sold 12/1 – 12/31: 2
Low price sale: $199,900
High price sale: $276,000
average price sale (mean): $237,950
average price sale (median): $ –
About 3% of listed villas sold this month.

2007 complete year sales graphs:
sales per month
sales volume by month
statistics 


{ 4 comments… read them below or add one }

NDtom January 1, 2008 at 3:04 pm

I think you need to edit this since the posted numbers in the text part look to have been cut and pasted wrong…….. Great info though, look forward to the corrections. Keep up the monthly postings in 2008!

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NDtom January 1, 2008 at 3:05 pm

Opppps – looks like just the “villa” part is listed as condos is what was confusing.

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NDtom January 1, 2008 at 3:20 pm

Still confused….. the condos/townhomes and villas need to be double checked…. thanks.

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Nick Molnar January 1, 2008 at 9:05 pm

NDtom, thanks for helping me catch my errors. I can see why it was confusing, I missed updating dates and property types for the category “villas.” It should be correct now.

I’ve struggled with how best to represent condos/townhouses (connected units) and villas (detached structures with a maintenance package similar to condos) in the reports. They aren’t well separated by the local mls because many agents don’t tag their listings appropriately.

To further complicate the issue there are 67 condos and 67 villas currently active in the mls.

Please bear with me and continue to provide feedback as appropriate. I’ve received a lot of helpful comments on the monthly market report and look forward to improving it in 2008.

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