Carmel Homes - Market Report -February 2012Posted 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:
|Average Selling Price|
|Days on Market|
|Price Per Square Foot|
|Sales Price / List Price|
And our YTD chart with number of homes sold and average selling price:
Number of Homes Sold
Average Sales Price
And our 4 year price history graph:
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.