Is South Bend, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Bend is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, South Bend has remained a Seller's Market.

Key Takeaway

South Bend is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in South Bend, IN

How much do homes in South Bend, IN cost?

Median Sold Price

$220,000

$132/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

+$42,000(+23.6%)

Key Takeaway

Homes in South Bend have sold for 23.6% more than they did a month ago.

Summary: The median home sold price in South Bend was $220,000 in November 2024, up 23.6% from last month, and the median price per square foot was $132.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 -$76.2K
N/A
2 $123.5K$125K
+1.2%
3 $200K$227.5K
+13.8%
4 $227.5K$350K
+53.8%
5+ $319.9K$892.5K
+179.0%

Summary: South Bend housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.2%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 53.8%, and 5+ bedroom homes increased by 179%.

Median Sold Price Compared To Nearby Cities

Clay Township
+39.8%
South Bend
+23.6%
German Township
+17.0%
Portage Township
+6.9%

Housing Supply in South Bend, IN

How many homes are available in South Bend, IN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
683700+2.5%

Summary: The South Bend real estate market had 700 homes for sale in November 2024, a 2.5% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 78
+14.3%
2 158153
-3.2%
3 333352
+5.7%
4 150148
-1.3%
5+ 3539
+11.4%

Summary: The South Bend housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes increased by 11.4%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
171149-12.9%

Asking Price vs. Sold Price

82 Homes Were Sold
Under Asking

23 Homes Were Sold
At Asking

34 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Bend, you may be able to get a good deal. 59% of homes here sold below asking price last month.

Summary: A total of 149 homes were sold or pending in South Bend in November 2024, down by 12.9% month-over-month. Of the 139 sold homes, 59% were sold under asking, 17% were sold at asking, and 24% were sold over asking.

Days on Market for South Bend, IN

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

Newest Listings in South Bend, IN

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