There are 2,683 residential properties listed for sale in the South Bend MLS today.
- 88% have been on the market for 30+ days
- 73% have been on the market for 60+ days
- 62% have been on the market for 90+ days
- 53% have been on the market for 120+ days
- 20% have been on the market for 365+ days
- 4% have been on the market for 730+ days
- 1% have been on the market for 1,000+ days
1 of every 2 homes for sale in the South Bend Area MLS has been for sale for more than 4 months.
1 in 5 houses for sale has been for sale for over a year.
Here are a four of the homes that have been on the market for more than 1,000 days:
51483 Megan (map / details) is in Shamrock Hills, one of the area’s most expensive neighborhoods and one of only two with a gate. It was first listed for sale in July 2006 at $849,900. It is now listed at $650,000.
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3214 York (map / details) is in Ridgedale. It was most recently listed November 2005 for $799,000 after selling at auction for $470,000 a few months prior. It is now listed for $545,000.
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2126 Willow Lake (map / details) is in Barrrington Estates, Mishawaka’s gated community. It hit the market in March 2005 for $599,000. It is now listed at $454,900.
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53130 Grassy Knolls (map / details) is a builder’s model home in Nature’s Gate. It was listed in March 2006 at $474,900 and now has a sticker price of $399,900.
Looks like a circus of white elephants. Detroit is far far far worse…filled with white elephants.
A white elephant is a valuable possession of which its owner cannot dispose and whose cost (particularly cost of upkeep) is out of proportion to its usefulness.
I am so glad that I sold this spring and didn’t wait until next year. I don’t know what you’re seeing from the inside Nick, but from the outside it looks like the market in South Bend isn’t getting any better.