by Nick Molnar on October 1, 2008
Lots of listings are expiring, six months after Spring contracts were signed. Despite this, there are still 2,733 residential properties for sale in the area’s mls with an asking price just over 408 million dollars.
In September, there were 274 sales, for $30,233,646. Check the scatter graph for the price breakdown.
September 2008 Sales Prices in the South Bend Area MLS
There were just a handful of condo sales:
- Two at Irish Crossings, for $415,941 and $350,859
- Two at The Forest in Mishawaka, each for $170,000
- Two at Woodbridge, for $97,200 and $81,900
- One at Somers Square, for $128,000
Nothing has sold in Oak Hill since June despite 8 listings now for sale (after one expired today). They are priced $164,500 to $229,500, clustered around $175,000. Oak Hill sellers, it looks like it’s time to drop your prices.
Overall, sales for the year remain slow compared to years past. However September 2008’s sales volume was about 8% less than September 2007’s (see the comments for a note on an earlier version of this article with a mispublication). Here’s the graph for sales volume since September 2001:
As always, if you need greater insight into the market, or specific real estate services, don’t hesitate to contact us. There is more to know than we can fit in any post, and we’d be pleased to speak with you.
by Nick Molnar on September 3, 2008
This morning there are 2,881 residential properties listed for sale in the South Bend Area MLS. If you want to buy them all it will set you back $426,130,673.
In August, there were 340 closed sales through the mls. The combined total price was $37,333,036. That’s about 12% of listed homes selling in a month, though only about 9% by price. That probably means the lower priced properties are selling best.
Single-family homes
323 sales in August for $33,882,823.
24 sold over $250,000
106 sold for $50,000 or less
Condos / Townhouses
August had 6 sales through the mls, adding up to $1,988,463.
4 were at Irish Crossings.
The others were upgraded units at Woodbridge and the North Shore Club.
It’s worth noting that not everything sells through the mls. That only contains data on properties sold through a realtor. There are for sale by owner and for sale by builder properties that won’t be reflected in the numbers. That said, it’s the most complete data set readily available. You could go to the courthouse and search the sales disclosure forms, but barring that reading our monthly reports and the comments will give you a good sense of the market. Need to know more to make a smart selling or buying decision? Contact us.
by Nick Molnar on August 29, 2008
North Douglas Condos‘ developer, Cleland Homes, is building garages. The foundations are in, and they are expected to be compete by this winter. There will be eight garages, owned by the association and rented for $115 / month. Two have been spoken for by residents of the first building.
There are three 2-bedroom units still for sale in the first building (of 16 units). The second unit is complete and has its certificate of occupancy. It still needs to be legally brought into the condo association, but should be ready for residents sometime in the next weeks. One of its 16 units is reserved, leaving 18 condos for sale at North Douglas now.
by Joe Molnar on August 27, 2008
Juday Creek
There are a lot of great golf courses in and around South Bend. Juday Creek is one of the few courses that has homes situated on the course. It’s a public 18 hole course that I’ve played many times and grown to like very much. It is a very flat track with few mature trees but many water hazards. Water comes into play on at least 10 holes. The fairways are lush and the greens are well maintained and usually fast. Several of the greens are tricky with severe slopes. Crazy pin placements can drive you mad at times.
Hole #1 starts your round with an easy par 4. It has wide open fairway and no hazards except some sand front right and rear left.
There are several holes that offer tempting high risk high reward shots. Hole #2 is a par 5 reachable in 2 strokes for big hitters. A good drive needs to be followed by a strong second shot of about 230 yards over a large pond.
Hole #13 is a long par 4 that screams “lay up” on your second shot. A long drive still leaves you with well over 200 yards to the green and you have to carry a creek to get there. The approach shot also requires accuracy because it is framed by trees on both sides near the creek.
Hole #14 is a tricky par 4 on the backside that is a severe dogleg left that tempts big hitters to cut the corner. The problem is a huge waste bunker that catches all but the best hit drives. Conservative play says hit a 3 wood straight and take a 150 yard iron in to the green.
Hole # 15 is a par 3 with the trickiest green on the course. Make sure you are beneath the hole because a severely sloping west to east and back to the front make all but the shortest putts from above and left of the hole impossible.
Juday Creek is a fun course and a good test of your game. Distance is not as important as shot placement on this course that rewards those who stay in the fairways. Big slices and hooks will mean you need a ball retriever or a fishing pole.
If you have an opinion on Juday Creek’s golf course please let me know. If you are looking for a game, let me know that too. I have a group of 16 that plays on Sundays and some Wednesdays. I love to introduce players to each other. Many great friendships start this way.
If you’d like to see any of the homes for sale on and near Juday Creek’s golf course, I’d be pleased to help you with that also. There are 8 for sale as of 8/27/08. They’re priced ~$160k-$260k with 3+ bedrooms, 2+ baths, ~1900-3400 sq ft, and 2-car garages. They were built in the 1980s/90s. You can see some photos and basic details here.
Best
-Joe Molnar
574-286-5683
jamolnar@realst8.com
by Nick Molnar on August 27, 2008
School has started and students have settled where they will live for the year. Here are the Notre Dame condo sales for the year so far.
Contact me if you’d like details on the available condos, prices on the sales, or to know how one complex compares to the next,
Nick Molnar
574-217-4770
nick@realst8.com
