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Carmel Indiana Real Estate - Year End Report 2009

Posted by Mike Taylor on Friday, January 22nd, 2010 at 7:17am


I don’t want to bore my readers to death with yearend reports, but I find them very interesting and a good indicator of how the market is doing. So, today we will look at the Carmel real estate yearend report. First though, I always like to look at the month of December:

 
2008
2009
% Change
Active
N/A
649

Homes Sold
79
87
10%
Average Selling Price
$361,035
$327,086
-9%
Days on Market
79
95
20%
Price Per Square Foot
$114
$113
-1%
Sales Price / List Price
94%
95%
1%

 

Now the year end number s for Carmel homes:

 
Number of Homes Sold

Average Sales Price
 
       
 
2008
2009
% Change
2008
2009
% Change
 






Jan.
61
45
-26.23%
$349,289
$298,853
-14.44%
Feb.
70
51
-27.14%
$362,693
$267,568
-26.23%
March
104
67
-35.58%
$344,503
$286,984
-16.70%
April
108
73
-32.41%
$322,869
$260,474
-19.33%
May
133
95
-28.57%
$330,225
$306,038
-7.32%
June
135
133
-1.48%
$344,330
$322,635
-6.30%
July
133
121
-9.02%
$344,709
$308,242
-10.58%
Aug.
121
122
0.83%
$313,284
$325,683
3.96%
Sept.
88
108
22.73%
$311,381
$280,781
-9.83%
Oct.
70
119
70.00%
$316,830
$357,321
12.78%
Nov.
65
101
55.38%
$307,559
$330,595
7.49%
Dec.
79
87
10.13%
$361,035
$327,086
-9.40%
 






Totals
1,178
1,170
-0.68%
$333,659
$309,048
-7.38%

 

And the year end month by month look at the average sales price for Carmel Indiana real estate:

 

carmel_real_estate_450 

 

From a demand perspective, it looks like Carmel real estate is tearing it up with 5 straight months of increased demand and 4 of the 5 seeing double digit increases over last year. 10% this month, 55% increase last month, 70% increase in October…this are REALLY good signs. What is a bit disappointing is that this increase in the number of homes sold is not translating into an increase in the average sales price…yet. The average sales price is more of wild ride over the course of the year seeing a 13% gain two months ago and then a 9% decrease this month. The first time home buyers could be affecting the average sales price but it is just too hard to tell from a macro perspective like this. One thing is for sure, the demand for Carmel real estate seems to be heating up and that is a good thing. Based on the previous 5 months of increased sales, I would project good things for Carmel Indiana real estate in 2010 but only time will tell.

If you are considering buying or selling a home in Carmel, visit our Carmel homes page or feel free to call me anytime at 317-362-4064.


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