Carmel Indiana Real Estate - Market Report October 2011
Posted by Mike Taylor on Thursday, November 17th, 2011 at 10:27am.Let’s take a look at Carmel Indiana real estate for the month of October 2011:
2010 |
2011 |
% Change |
|
| Active | N/A | 735 | |
| Homes Sold | 66 | 76 | 15% |
| Average Selling Price | $391,834 | $315,517 | -19% |
| Days on Market | 117 | 110 | -6% |
| Price Per Square Foot | $118 | $110 | -7% |
| Sales Price / List Price | 93% | 95% | 2% |
And some YTD numbers for Carmel homes:
Number of Homes Sold |
|
Average Sales Price |
||||||
2009 |
2010 |
2011 | % Change |
2009 |
2010 |
2011 | % Change |
|
|
|
|
|
|
|
|
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| Jan. | 45 | 50 | 51 | 2% | $298,853 | $380,098 | $317,863 | -16% |
| Feb. | 51 | 59 | 62 | 5% | $267,568 | $327,208 | $305,323 | -7% |
| March | 69 | 94 | 109 | 16% | $284,331 | $361,970 | $297,518 | -18% |
| April | 75 | 122 | 106 | -13% | $261,335 | $272,486 | $312,268 | 15% |
| May | 101 | 135 | 124 | -8% | $311,970 | $319,435 | $321,928 | 1% |
| June | 133 | 149 | 161 | 8% | $322,635 | $323,398 | $340,349 | 5% |
| July | 131 | 110 | 151 | 37% | $304,502 | $350,242 | $341,203 | -3% |
| Aug. | 125 | 126 | 145 | 15% | $323,863 | $365,921 | $338,403 | -8% |
| Sept. | 110 | 92 | 117 | 27% | $278,921 | $346,604 | $338,957 | -2% |
| Oct. | 133 | 66 | 76 | 15% | $340,566 | $391,834 | $315,517 | -19% |
| Nov. | 110 | 65 | -100% | $327,709 | $308,227 | -100% | ||
| Dec. | 90 | 78 | -100% | $322,835 | $318,187 | -100% | ||
| Totals | 1,173 | 1,146 | 1,102 | -3.99% | $308,768 | $335,186 | $326,328 | -2.64% |
And our 3 year price graph:
It looks like although we are seeing a pretty good increase in the number of homes sold, 15% for October, we have seen a decrease in average sales price this month. The past few months, in fact, have followed this same trend of increased sales activity over last year and a decrease in sales price. Overall, if you look at the YTD numbers we see the Carmel market is pretty stable with a slight decrease in average sale price and ever so slight decrease in number of homes sold. There are two very pieces of good news in the report: 1) The percent of distressed homes selling in the Carmel market is only 5% and 2) The absorption rate is a very manageable 6.85.
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