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Carmel Real Estate Report - July 2010

Posted by Mike Taylor on Thursday, August 12th, 2010 at 2:50pm.


Carmel has been on a tear this year posting double digit gains in number of homes sold and average selling price. While the tax credit expiring has had an effect on the market, we still saw a 15% increase in the average sales price for July. The number of units was expectedly down by 16% this month over the same time last year but YTD we are still up 19% over last year’s numbers. Here is a look at the YTD numbers for number of homes sold and average selling price:

 
Number of Homes Sold

Average Sales Price
 
       
 
2009
2010
% Change
2009
2010
% Change
 






Jan.
45
50
11%
$298,853
$380,098
27%
Feb.
51
59
16%
$267,568
$327,208
22%
March
69
94
36%
$284,331
$361,970
27%
April
75
122
63%
$261,335
$272,486
4%
May
101
135
34%
$311,970
$319,435
2%
June
133
149
12%
$322,635
$323,398
0%
July
131
110
-16%
$304,502
$350,242
15%
Aug.






Sept.






Oct.






Nov.






Dec.






 






Totals
605
719
18.84%
$293,028
$333,548
13.83%


A little more detail about the Carmel real estate market for July:

 
2009
2010
% Change
Active
N/A
851

Homes Sold
131
110
-16%
Average Selling Price
$304,502
$350,242
15%
Days on Market
79
80
1%
Price Per Square Foot
$113
$121
7%
Sales Price / List Price
96%
96%
0%


And a nice graph showing the YTD 2009 vs. 2010 average selling price:

carmel-real-estate-july-2010_500 

 


Considering all factors at play in this market, Carmel is doing extraordinarily well. A 16% decrease in the number of homes sold is really nothing to be concerned about in light of the tax credit this year. It remains to be seen what will happen, but Carmel is poised to have a dramatically better year in 2010 than in 2009.

If you are wondering about Carmel foreclosures or Carmel short sales, they represented 10% of the sold homes in July and account for 8% of the sales YTD.

Feel free to call me or email anytime with any questions about the Carmel real estate market or anything related to real estate.  I stay on top of these numbers to better serve my clients.  

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