A Primer on the South Bend Condo Market

by Nick Molnar on April 20, 2007

Condo activity around Notre Dame is heating up. This weekend thousands of football fans are in town for the Blue and Gold Game and are being reminded of the hotel hassles Notre Dame football weekends can entail. Many of them are considering condos for their “lock and leave” qualities. Notre Dame students who graduate in May are also looking to sell their condos, while incoming students consider their housing options.

As of today, there are about five condos in Oak Hill for sale, about six in the North Shore Club, and the entire second floor of the first North Douglas Condos building has sold out, though seven unsold ground floor condos should be ready in August. You can check the South Bend Condo Guide for more information about condo complexes, including 2006 sales prices and the ability to search by year built, or distance to Notre Dame. And you can click here to see details of the 61 condos currently listed in the Greater South Bend-Mishawaka MLS.

How does all this affect you? If you’re buying it’s time to start monitoring the market. You should be receiving daily e-mail updates that inform you when new options become available and get you their photos and details. You should also start interviewing agents – the South Bend condo market is changing rapidly and there are only a few that know it well. If they can’t tell you the rough assessments of the most popular Notre Dame condos like Oak Hill off the top of their head or when the North Douglas condos will be ready, they aren’t in a position to help you best. They just don’t know the options.

 If you’re selling it’s time to start promoting your unit. The season is short and if you miss it, you face a long wait for a buyer. Price your condo appropriately, prepare it for showings and put it in front of buyers. For most of you this means hiring an agent. For those of you with the time and expertise to do it yourself, do it right. Spend the time to take great photos that aren’t dark or blurry, advertise it online through a service like postlets, and never mislead buyers by calling the corner of your basement a bedroom. It will save you time and frustration because they will eventually call your bluff anyway.

 If you’re thinking about condos near Notre Dame, now is the time to act. If your action involves a Realtor, I hope you’ll contact me to discuss your situation.

Nick Molnar
Home Gallery Realtors
574-309-3758
nick@realst8.com


{ 1 comment… read it below or add one }

NDtom April 20, 2007 at 6:50 pm

I find the blog very useful, especially the numbers and stats which are the most informative. The “ND Condo Craze” will be interesting as they all pan out, and apparently more are to come that haven’t been announced yet. I do see a few condo-townhome developments missing from your lists though, including Wexford Place and Irish Crossings.

The Wexford Place will consist of 8 townhomes with summer completion (about $2.5M in construction in all). Irish Crossings will include 79 townhomes with the first ones completed by August (about $27.5M in construction in all). Between the two projects, that’s $30M!

It also appears that the second building at North Douglas should start before long too which is a good sign for real estate in the area.

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