{"id":831,"date":"2009-10-02T11:23:29","date_gmt":"2009-10-02T15:23:29","guid":{"rendered":"http:\/\/www.realst8.crankpin.com\/?p=831"},"modified":"2009-10-20T18:03:42","modified_gmt":"2009-10-20T22:03:42","slug":"south-bend-real-estate-report-september-2009","status":"publish","type":"post","link":"https:\/\/www.realst8.com\/staging\/9756\/market-conditions\/south-bend-real-estate-report-september-2009\/","title":{"rendered":"South Bend Real Estate Report: September 2009"},"content":{"rendered":"

238 sales were reported for the month of September 2009 in the South Bend Area MLS, for a total sales volume of $24.97 million.<\/p>\n

\"\"<\/p>\n

Prices<\/h2>\n

The high price sale was $420,000 for 51385 Amesbury Way in Granger’s Covington Shores neighborhood. The owner had been trying to sell since 6\/2007 and started with an asking price of $549,000. The home was listed for $450,000 at the time of sale.<\/p>\n

\"\" \"\"<\/p>\n

The low price sale was $4,000 for 919 Sherman in South Bend, a 4 bedroom, 2 bath 1,632 square foot house. The bank selling it started at $10,500 in 11\/2008 and it was listed at $6,500 at the time of sale.<\/p>\n

\"\" \"\"<\/p>\n

All reported sales prices are represented on the scatter graph below<\/p>\n

\"\"<\/p>\n

If you break sales prices down to the $ per square foot level, the sales topped out at $149.09 per square foot, for the above mentioned sale at 51385 Amesbury. The low priced sale works out to be $2.45 per square foot. This is not encouraging news for the 129 homes listed for sale at $150 per square foot or higher.<\/p>\n

Financing<\/h2>\n

FHA loans continue to become more common. In September they accounted for 40% of all sales. If you only consider the 71 sales between $50k and $100k, the FHA financed percentage rises to 75% or 3 out of every 4 sales.<\/p>\n

\"\"<\/p>\n

Condos and Townhomes<\/h2>\n

The condo market continues to be slow. There are two reported sales for the month of September.<\/p>\n