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        <title>Indianapolis Real Estate Blog</title>
        <link>http://www.reddoorindy.com/blog/tags/carmel-indiana-homes/</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-homes-market-report-march-2011.html</guid>
            <link>http://www.reddoorindy.com/blog/carmel-indiana-homes-market-report-march-2011.html</link>
            <author>mtaylor@reddoorindy.com (Mike Taylor)</author>
            <title>Carmel Indiana Homes - Market Report - March 2011</title>
            <description> <![CDATA[ 
Lets take a look at the Carmel Indiana real estate market for March 2011.  Here are detailed numbers for the month of March:



  
    
      
&nbsp;

      

2010


      

2011


      

% Change


    
    
      
Active

      

N/A


      

846


      




    
    
      
Homes Sold

      

95


      

409


      

15%


    
    
      
Average Selling Price

      

$362,531


      

$297,518


      

-18%


    
    
      
Days on Market

      

77


      

110


      

43%


    
    
      
Price Per Square Foot

      

$118


      

$110


      

-7%


    
    
      
Sales Price / List Price 

      

95%


      

95%


      

0%


    
  



&nbsp;


And for a little perspective, lets also look at a 3 year YTD of both number of homes sold and average sales price:



  
    
      
&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%


    
    
      
&nbsp;

      




      




      
&nbsp;

      




      




      




      
&nbsp;

      




    
  




  And a quick average sales price graph:





&nbsp;


Carmel always amazes me when I do these market reports.  While most other areas have a significant decrease in sales activity, Carmel Indiana homes are selling 16% more than in 2010.  What is not great is that for 3 months running we have seen decreases in sales prices in Carmel.  This is contrary to the trend last year when we actually saw an increase in average sales price despite the market conditions and decreased sales activity.  The percentage of foreclosures has seen a slight increase over 2010; we are seeing 10% of all homes sales involve some sort of &ldquo;distressed&rdquo; property versus 7% last year. 


  One thing is for sure, the fundamentals of the Carmel Indiana real estate remain strong.  Demand remains relatively strong and we are only seeing an 8 month supply of homes in the market.  It remains to be seen how Carmel will weather the rest of this storm in 2011 and how much more of an impact the foreclosures will have but I dont expect any major swings in the Carmel market as it has always proven to be quite reliable. Visit our Carmel Indiana subdivisions for more info about the different neighborhoods Carmel has to offer. 

 ]]> </description>
            <pubDate>Wed, 06 Apr 2011 08:35:54 -0400</pubDate>
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