A South Bend Bubble?

by Joe Molnar on January 12, 2007

There is a lot of media attention on the “Real Estate Bubble.” Here are the year end statistics for 2005 and 2006 from the Greater South Bend-Mishawaka MLS so you can see for yourself how the market is doing in and around South Bend.

  2005 2006 Change
# Sold Units: 4,523 4,705 + 4%
Total Dollar Volume 543,021,041 567,218,313 + 4%
Average Sale Price: 120,058 120,556 + .004%
Median Sale Price:  99,900 98,800 – 1%

 

While there are parts of the country that are experiencing a sharp downturn, South Bend has experienced slow steady growth and has not been hit with the huge price swings experienced elsewhere.  In looking at prior years, I find the statistics to be remarkably similar.


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