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
 


 



 

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:

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.