ST. JOSEPH COUNTY HOME PRICES GAIN
IN FEBRUARY
SOUTH BEND, IN (March 23, 2010)--Average home prices in St. Joseph County rose in February, according to the latest monthly data compiled by RE/MAX of Indiana.
AVERAGE SINGLE-FAMILY HOME PRICE UP = $82,655
February,2010 single-family average home price up 1.71 percent from February, 2009
PENDED HOME SALES UP = 252 (Listings expected to close in the next 30 days)
Up 19% Compared to Feb '09
Up 29% Compared to Jan '10
"Our RE/MAX agents report that many first-time homebuyers have been taking advantage of the $8,000 tax credit, but time is running out with that incentive set to expire on April 30," said Marsha Lambright, Broker/Owner RE/MAX 100 in Mishawaka.
February, 2010 brought the Greater South Bend-Mishawaka area housing market mixed results when all listing categories are compared to February of 2009:
Total property sales declined -however--
Total dollar volume and average single-family home sales prices rose on a year-over-year basis.
- Active inventory in the St. Joseph County area is stable and down only 2 percent from February 2009 (2,413 vs. 2,471).
- Total dollar volume for properties sold during the month was $13.86 million versus $13.81 million one year earlier, representing a 0.51 percent increase
HOME SALES STATISTICS BY PRICE (Feb '10 vs Feb '09)
- Homes Priced Below $75,000 Down 5% (97 vs 102 )
- Homes Priced Between $75,000 and $150,000 Up 19% (44 vs. 37)
- Homes Priced Between $150,000 and $250,000 Down 25% (18 vs.24)
- Homes Priced Between $250,000 and $500,000 Up 29% (9 vs.7)
"The recent moderation in sales and pricing trends is an encouraging sign, and the national median existing single-family price according to the National Association of Realtors® was $172,900, illustrating the continued higher value and lower cost of living that the St. Joseph County market offers consumers" said Dan Breault, Regional Director of RE/MAX of Indiana.
Statistics pulled from Greater South Bend-Mishawaka Association of REALTORS® for the dates of 2/1/2010 - 2/28/2010 and 2/1/2009 - 2/28/2009
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