The 285 sales add up to $35.58 million in volume. That is about 29% greater than the sales volume for April 2010 and 33% greater than the sales total from a year ago in May 2009.<\/p>\n
![\"\"](\"http:\/\/realst8.com\/images\/market\/may2010\/long-term-mls-graph.jpg\" "\\"")
<\/p>\n
Sales Prices<\/h2>\n
The high price sale was 11192 Pierce Road in Wakarusa, a farmhouse on 78 acres which sold for $680,000. For homes without such substantial land value, sales peaked at \u00a0$607,000 for 51285 Shannon Brook Court in the Shamrock Hills neighborhood of Granger. The home was listed for sale for $761,250 in August 2009 and previously sold for $725,000 in August of 2006 and $565,000 in February of 2003. Shamrock Hills also had last month’s high priced sale.<\/p>\n
![\"\"](\"http:\/\/www.realst8.com\/staging\/9756\/images\/market\/may2010\/51285-Shannon-Brook-Drive.jpg\" "\\"51285")
<\/p>\n
Other high price sales included 18230 Gilmore Drive in South Bend’s Bradford Shores, at $580,401 and three sales in Granger’s Woodland Hills:<\/p>\n
- \n
- 16771 Orchard Ridge at $500,000 with $5,000 in seller concessions<\/li>\n
- 51410 Hidden Pines Court at $465,000<\/li>\n
- 16795 Woodland Hills Drive at $465,000<\/li>\n<\/ul>\n
That is substantial activity for the neighborhood of about 100 homes<\/a> and more sales than Woodland Hills saw in all of 2009. Woodland Hills currently has nine homes listed for sale<\/a>, priced from $385,000 to $1.89 million.<\/p>\n
There were nine sales under $10,000 and 51 sales under $50,000.<\/p>\n
![\"\"](\"http:\/\/www.realst8.com\/staging\/9756\/images\/market\/may2010\/scatter.jpg\" "\\"")
<\/p>\nFinancing<\/h2>\n
FHA loans again accounted for the greatest number of sales though conventional financing accounted for more than half of the sales volume for May. Cash sales were a significant market force, and VA loans and other financing continue to play small roles in sales through the MLS.<\/p>\n
![\"\"](\"http:\/\/www.realst8.com\/staging\/9756\/images\/market\/may2010\/financing.jpg\")
<\/p>\nNotre Dame Area condos<\/h2>\n
The Notre Dame condo market remains soft on sales, though interest seems to have increased compared to past months. \u00a0There were four notable sales:<\/p>\n
- \n
- 1407 Oak Hill Drive sold for $135,000. It was listed for sale in April of 2009 at $184,900 and previously sold for $143,500 in February of 2005 after trying asking prices as high as $235,000. It is a first floor plus finished lower level unit with 950 square feet on each floor and four total bedrooms (including the lower level) and 3 baths. \u00a0It was updated with granite counters and bamboo floors, and had a deck and garage.<\/li>\n
- 18418 Killeen Court at Ivy Quad sold for $385,000. It is the mid-sized unit at the complex, “the Ardeen.” It is a newly built 2,800 square foot 4 bedroom, 2.5 bath townhouse.<\/li>\n
- 926 Keenan Court sold for $155,000. It was first listed for sale January 2008 for $175,029. It is a 1,760 square foot condo with 3 bedrooms and 2.5 baths. It was built in 2007 but hasn’t been occupied.<\/li>\n
- 5625 Irish Way #7 at the North Douglas Condos sold for $137,900. It is a 1,189 square foot 2 bedroom, 2 bath condo and the first sale in the project since a new investor took control of the development. It is in building 1, which was completed 2007\/8.<\/li>\n<\/ul>\n
New Construction<\/h2>\n
I count eight May sales in the MLS that appear to be new construction (not counting the Notre Dame condos detailed above). Notably,<\/p>\n
- \n
- The most expensive is 18230 Gilmore Drive in South bend’s Bradford Shores. Built by Century Builders, the 2,782 square foot + finished lower level 3 bedroom, 3+2 bath home sold for $580,401.<\/li>\n
- Weiss homes sold four houses, at $166,945, $160,000, $149,000 and $128,432.<\/li>\n<\/ul>\n
If you are considering the purchase or sale of property in the South Bend – Mishawaka – Granger – Notre Dame Area and want a no-pressure, no-hassles consultation with the real estate brokers behind the South Bend Area Real Estate Blog, please contact us<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"
The South Bend Area MLS \u00a0records show that in May 2010: 285 residential properties were sold 208 residential properties went under contract 471 properties were newly listed or re-listed for sale (that is not a count of all homes for sale, just those listed in May) The 285 sales add up to $35.58 million in […]<\/p>\n","protected":false},"author":37,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[7],"tags":[],"class_list":["post-1123","post","type-post","status-publish","format-standard","hentry","category-market-conditions"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/posts\/1123","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/comments?post=1123"}],"version-history":[{"count":6,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/posts\/1123\/revisions"}],"predecessor-version":[{"id":1129,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/posts\/1123\/revisions\/1129"}],"wp:attachment":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/media?parent=1123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/categories?post=1123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/tags?post=1123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}