![\"\"](\"http:\/\/www.realst8.com\/staging\/9756\/images\/market\/May2009LongTermLineGraph.jpg\")
<\/p>\nThere were 251 closed sales totalling $26.69 million through the South Bend Area MLS in May 2009. That’s about 27% higher than last month’s number, which just topped $21 million in sales. May 2009 is also about 35% lower when compared with May 2008. Sales seem to be following typical seasonal patterns \u00a0– though at a far reduced volume – as in recent years. If this continues, sales will peak in June or July, remain near that level in August and then fall September through December to a figure closer to January or February’s.<\/p>\n
Here is the long term sales graph that shows the seasonal peak and places this years sales in context.<\/p>\n
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High Price Sales<\/strong><\/p>\n The highest price sale was at\u00a051330 Grand Oaks Court in Granger’s Woodland Hills neighborhood. It was listed for $859,000 and closed at $800,000. That is 93% of list price. The seller appears to have bought it in 9\/2007 for $800,000 so it sold at a net loss after paying fees and commissions.\u00a0<\/span><\/strong><\/p>\n Rounding out the top three most expensive sales for the month are two homes in Granger’s Covington Shores neighborhood: \u00a0<\/p>\n Low Price Sales<\/strong><\/p>\n The lowest price sale was $3,500 for 223 E Bronson, which was listed for $9,900 at the time it sold. That is 35% of list price.\u00a0<\/p>\n Rounding out the three lowest price sales are: Number of Sales vs. Number of Listings by Price Range<\/strong><\/p>\n over $500,000… 2 sales leaving 69 homes remaining\u00a0 May 2009 Real Estate Sales at a Glance<\/strong><\/p>\n Here is the scatter graph with the price of every sold home in May 2009.<\/p>\n Notre Dame Condos and Townhomes<\/strong><\/p>\n It was another slow month for condo sales. Four “Notre Dame condos” sold this month. I’m using that term loosely to cover condos, townhomes and villas – any property that is maintenance-free with a monthly fee. There are 92 such properties listed for sale within 3 miles of Notre Dame’s Golden Dome (photos and details here<\/a>).<\/p>\n A 3 br, 2.5 ba Pendle Woods villa sold for $403,688. It was listed 10\/2006 for $396,900. I have a report that two of the entry level condos at Ivy Quad sold outside the mls. They would have been in the low to mid $200,000s<\/p>\n There were no sales this month in Irish Crossings or Oak Hill, each of which have 10+ condos listed for sale. The future of the North Douglas condos project remains uncertain after the developer removed his petition for rezoning from the Mishawaka City Council’s early May agenda. There have been no sales at the Riverwalk Townhomes in Mishawaka, and just a few at the Townes at Kamm Island and at Keenan Court. There are 6 condo-hotel units at Waterford Estates listed for resale in the mls, including one at a reduced price of $89,999 which is below the original prices of the units. Waterford Estates has also begun a time-share program.<\/p>\n Need Real Estate Help?<\/strong><\/p>\n![\"\"](\"http:\/\/realst8.com\/images\/market\/may09\/5330GrandOaks.jpg\")
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\n14664 Heatherton was listed at $599k and sold for $560k. That is 93% of list price\u00a0
\n51308 Harbor Ridge was listed at $465k and sold for $442,500. That is 95% of list price.<\/p>\n![\"\"](\"http:\/\/realst8.com\/images\/market\/may09\/14664Heatherton.jpg\")
\u00a0![\"\"](\"http:\/\/realst8.com\/images\/market\/may09\/51308Harboridge.jpg\")
<\/p>\n![\"\"](\"http:\/\/realst8.com\/images\/market\/may09\/223Bronson.jpg\")
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\n423 W Garfield in Elkhart, listed at $8,900 and sold for $6,000, or 67% of list price.
\n1618 Elwood Ave, listed at $7,900 and sold for $6,500, or 82% of list price.<\/p>\n![\"\"](\"http:\/\/realst8.com\/images\/market\/may09\/423Garfield.jpg\")
\u00a0![\"\"](\"http:\/\/realst8.com\/images\/market\/may09\/1618Elwood.jpg\")
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\n$400,000 – $499,999… 3 sales leaving 56 homes\u00a0remaining
\n$300,000 – $399,999… 3 sales leaving 140 homes\u00a0remaining
\n$200,000 – $299,999… 16 sales leaving 258 homes\u00a0remaining
\n$100,000 – $199,999… 90 sales leaving 844 homes\u00a0remaining
\n$50,000 – $99,999… 60 sales leaving 761 homes\u00a0remaining
\n$00,001 – $49,999… 77 sales leaving 420 homes\u00a0remaining<\/p>\n![\"\"](\"http:\/\/www.realst8.com\/staging\/9756\/images\/market\/May2009ScatterGraph.jpg\")
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\nA 3 br, 3.5 ba Dublin Village townhouse sold for $225,000. It was listed \u00a007\/2008 for $249,900.
\nA 3 br, 2 ba Woodbridge condo sold for $88,000. It was listed 02\/2009 for $115,000.
\nA 1 br, 1 ba North Shore Club condo sold for $54,000. It was listed 09\/2008 for $69,900.<\/p>\n