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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
ActiveN/A735 
Homes Sold667615%
Average Selling Price$391,834$315,517-19%
Days on Market117110-6%
Price Per Square Foot$118$110-7%
Sales Price / List Price93%95%2%

 

And some YTD numbers for Carmel homes:

 
Number of Homes Sold

Average Sales Price
 
         
 
2009
2010
2011
% Change
2009
2010
2011
% Change
 


 



 

Jan.4550512%$298,853$380,098$317,863-16%
Feb.5159625%$267,568$327,208$305,323-7%
March699410916%$284,331$361,970$297,518-18%
April75122106-13%$261,335$272,486$312,26815%
May101135124-8%$311,970$319,435$321,9281%
June1331491618%$322,635$323,398$340,3495%
July13111015137%$304,502$350,242$341,203-3%
Aug.12512614515%$323,863$365,921$338,403-8%
Sept.1109211727%$278,921$346,604$338,957-2%
Oct.133667615%$340,566$391,834$315,517-19%
Nov.11065 -100%$327,709$308,227 -100%
Dec.9078 -100%$322,835$318,187 -100%
         
Totals1,1731,1461,102-3.99%$308,768$335,186$326,328-2.64%

 

And our 3 year price graph:

carmel real estate october 2011

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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