Status of the South Bend Area Housing Market: 05/01/07

by Nick Molnar on May 1, 2007

Using data from the Greater South Bend-Mishawaka MLS, here is the April breakdown of sales statistics. Sales are increasing slowly, along with the number of homes listed. Condos continue to be the area’s hot market. About 23% of the listed inventory of condos sold this month, compared to 13% of the listed inventory of single family houses.

Houses Listed: 2,164
Houses Sold 4/1 – 4/30: 290
About 13% of listed houses sold this month.

Townhouses/Condos Listed: 57
Townhouses/Condos Sold 4/1 – 4/30: 13
About 23% of listed townhomes/condos sold this month.
Villas Listed: 56
Villas Sold 4/1 – 4/30: 9
About 16% of listed villas sold this month.

Archived South Bend market reports:
January 2007
February 2007
March 2007

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NDtom May 1, 2007 at 11:05 am

Not to sound too bearish, but given these numbers it would appear that the SB-M housing market is a good 20%-25% down from the previous two years and listings are at around 8 months supply. That is pretty rough since mortgage rates are still very low, historically speaking. Dollar sales volume numbers would be interesting for comparison.


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