Carmel Homes - Market Report -February 2012

Posted by Mike Taylor on Tuesday, March 13th, 2012 at 9:12am

Time to see what the Carmel homes for sale market is doing as of February 2012. Here are the numbers for the months of February for sold homes in Carmel Indiana:

 
2010
2011
% Change
Active
N/A
717

Homes Sold
63
63
0%
Average Selling Price
$307,937
$292,231
-5%
Days on Market
108
122
13%
Price Per Square Foot
$109
$110
1%
Sales Price / List Price
96%
95%
-1%


And our YTD chart with number of homes sold and average selling price:

 
Number of Homes Sold

Average Sales Price
 
                 
 
2010
2011
2012
% Change
2010
2011
2012
% Change
 


 



 

Jan. 50 63 69 10% $380,098 $317,863 $304,584 -4%
Feb. 59 63 63 0% $327,208 $305,323 $292,231 -4%
March 94 109     $361,970 $297,518    
April 122 106     $272,486 $312,268    
May 135 124     $319,435 $321,928    
June 149 161     $323,398 $340,349    
July 110 151     $350,242 $341,203    
Aug. 126 145     $365,921 $338,403    
Sept. 92 117     $346,604 $338,957    
Oct. 66 76     $391,834 $315,517    
Nov. 76 113     $300,169 $373,936    
Dec. 89 85     $321,373 $281,665    
                 
Totals 1,168 1,313 132 11.04% $334,491 $327,441   -2.11%

 


And our 4 year price history graph:

indianapolis indiana homes for sale february 2012


While not as dramatic as the Indianapolis report from yesterday, Carmel is seeing the same trend as Indianapolis with an increase in sales activity since the beginning of the year. January saw a 10% increase and February had the same amount homes in Carmel Indiana sell as in 2011. The average selling price has been down slightly for both months in 2012 with a 4% decrease for January and February.

The foreclosure / distressed market in Carmel is nothing compared to the Indy market. While in Indy we see near ½ of all sales are made up of foreclosures, in Carmel Indiana real estate we are seeing approximately 10% of all sales from the foreclosure/short sale category.

As in Indianapolis, Carmel is poised for a comeback in 2012. The absorption rate is very manageable at only a 6.41 months’ supply of homes and it appears we might see a surge in sales activity. Again, the feeling on the ground is optimism and the good homes are selling fast. We have had TONS of situations in the past 60 days where there have been multiple offers on homes. Hopefully, this will be a great year for Carmel Indiana real estate.