|
The average resale value of a home in the South Bend-Mishawaka area rose 1.8 percent in the fourth quarter of 2004 compared to the same quarter the previous year, according to a National Association of Realtors report.
That was the 14th-smallest increase of the nation's 129 largest real estate markets, and far below the 8.8 percent median increase across the nation.
The median resale value of a home in the area was $96,400, meaning half the homes cost more than that amount and half cost less than that amount. That figure ranked the area seventh-lowest among the nation's real estate markets. The national median was $187,500.
Nationally, Las Vegas posted the greatest fourth-quarter increase, rising 47.3 percent, while San Francisco had the nation's most expensive homes, with a median value of $656,700.
South Bend Tribune, Feb. 16 2005, Business:C8
