Carmel Real Estate Market Update
Posted by Mike Taylor on Friday, December 11th, 2009 at 12:15pm.
Here is market update for the Carmel Indiana real estate market for November 2009 compared to November 2008:
2008 |
2009 |
% Change |
|
| Active | N/A |
680 |
|
| Homes Sold | 65 |
101 |
55% |
| Average Selling Price | $307,559 |
$330,595 |
7% |
| Days on Market | 71 |
92 |
30% |
| Price Per Square Foot | $112 |
$115 |
3% |
| Sales Price / List Price | 95% |
96% |
1% |
For a little perspective, here is a YTD look at the Carmel homes market:
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. | ||||||
| Totals | 1,088 |
1,035 |
-4.87% |
$331,607 |
$304,107 |
-8.29% |
And a chart of the average sales price just to get a visual of the wild ride:
As you can see the Carmel real estate market is HOT! 3 straight months of double digit increases in the number of homes sold and the past two months have seen a 55% and 70% increase in the number of homes sold. The average sales price is also up in 2 of the past 3 months as well. Only time will tell if this is the start of an upward, but it is certainly great news for now. It should be noted that this could be the affects of the tax credit hitting the market, but Carmel buyers are not typically first time home buyers so I don’t think that fully explains it. The other piece of good news is that absorption rate, or number of month’s supply of homes, keeps dropping in Carmel and it now is at 7.11 which is very manageable.
If you are looking to buy or sell a home in Carmel Indiana, now just may be the perfect time. Visit our Carmel page or our subdivisions in Carmel Indiana for more info or you can always call me at 317-362-4064.
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