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        <title>Indianapolis Real Estate Blog</title>
        <link>http://www.reddoorindy.com/blog/tags/carmel-indana-real-estate/</link>
        <description>A local Indianapolis real estate blog by Red Door Real Estate keeping you up to date on all Indianapolis and surrounding areas real estate news.</description>
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            <guid>http://www.reddoorindy.com/blog/carmel-indiana-real-estate-year-end-report-2011.html</guid>
            <link>http://www.reddoorindy.com/blog/carmel-indiana-real-estate-year-end-report-2011.html</link>
            <author>mtaylor@reddoorindy.com (Mike Taylor)</author>
            <title>Carmel Indiana Real Estate - Year End Report 2011</title>
            <description> <![CDATA[ 
Yesterday we looked at the year end report for Indianapolis, today it is time to head to the northern suburb of Carmel to see what the Carmel Indiana real estate market did for the year end of 2011.  First lets look at the December sales data for Carmel homes:



  
    
      
&nbsp;

      

2010


      

2011


      

% Change


    
    
      
Active

      

N/A


      

608


      




    
    
      
Homes Sold

      

89


      

85


      

-4%


    
    
      
Average Selling Price

      

$321,373 


      

$281,665 


      

-12%


    
    
      
Days on Market

      

93 


      

107 


      

15%


    
    
      
Price Per Square Foot

      

$117 


      

$104 


      

-11%


    
    
      
Sales Price / List Price 

      

95%


      

95%


      

0%


    
  



&nbsp;


 Now lets look at the month by month and year end data for Carmel real estate:



  
    
      
&nbsp;

      

Number of Homes Sold 


      



          

      

Average Sales Price 


      
&nbsp;

    
    
      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

    
    
      
&nbsp;

      

2009


      

2010


      
2011

      

% Change


      

2009


      

2010


      
2011

      

% Change


    
    
      
&nbsp;

      



          

      



          

      
&nbsp;

      



          

      



          

      



          

      
&nbsp;

      



          

    
    
      
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

      
76

      
113

      
49%

      
$327,709

      
$300,169

      
$373,936

      
25%

    
    
      
Dec.

      
90

      
89

      
85

      
-4%

      
$322,835

      
$321,373

      
$281,665

      
-12%

    
    
      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

    
    
      
Totals

      
1,173

      
1,168

      
1,300

      
10.15%

      
$308,768

      
$334,491

      
$327,546

      
-2.08%

    
  



&nbsp;



And our 3 year price history chart:






  For the month of December, Carmel had a bit of an off month compared to last year.  The number of homes sold and the average sales price were down for the month with the average sales price off by 12% over last year.  However, it appears to be a bit of an anomaly as the average sales price dipped to $281,000 for December 2011 which is out of the norm and I would expect affected by a series of low sales.   When you look at the year end data, the picture actually improves quite a bit with the number of Carmel Indiana homes selling up 10% over last year and the average sales price for all Carmel Indiana real estate down only 2%. 


  In 2011, only 7% of all sold activity in Carmel was a result of &ldquo;distressed&rdquo; properties.  This is a very important fact because elsewhere distressed homes have a huge impact in dragging down home values.  That in combination with the fact that Carmel only has a 5.44 absorption rate, or number of months supply of homes, leads me to be relatively optimistic about 2012 for the Carmel Indiana real estate market.

 ]]> </description>
            <pubDate>Fri, 27 Jan 2012 09:25:51 -0500</pubDate>
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