Pottery Barn home in popular Sunblest has it all! Cul-de-sac location with large fenced yard, paver patio and deck. Hardwood floors on main level, crown molding in kitchen, DR and Great Room; Master BR, Foyer and Stairwell have chair/square molding, Main level bath has beadboard, surround sound, so many unique features. $159,900
The Carmel Real Estate Market for May 2009 shows the highest priced home selling at $800,000 after only 18 days on the market in Carolina Commons, one of my favorite neighborhoods. All of those homes in the 106th and Keystone area typically sell very quickly. The lowest price home selling was for $75,000 at 761 Main Street with 1400 sq ft. The statistics for homes in Carmel are:
Active Single Family Homes Listed in May 148
Single Family Homes Currently Active 734
Single Family Homes Sold in the month of May 100 (Nearly 50% more than last month)
Average Sale Price per sq ft $111(Consistent with last month)
Average Days on Market 93 (Consistent with last month)
Of the 148 Carmel Homes listed in May, popular neighborhoods were Village of West Clay, Brookshire, Village of Mt Carmel and Claybourne. The highest priced home listed in May was for $6,850,000 at 951 W 116th with over 28 acres and 9,000 sq ft. This particular home while listed in May of this year has been on the market for the past year. The time on market is a tricky thing; if an agent relists it; it starts the Days on Market (DOM) over.
Of the homes that sold in May, Brookshire and Village of West Clay saw the most activity. Homes selling in May of 2008 were 132 with 7 distressed properties and of the 100 in May of 2009, 7 were distressed properties. What is most interesting is of the 100 sold this month; 33% of them sold within 30 days. That speaks well for a recovering market!
If you own a home in Carmel, Indiana and have questions about the average selling price, the days on market, the current activity or the appreciation of your neighborhood; be sure to contact your Carmel Real Estate Agent.
As summer approaches, I thought it would be good to talk about the Monon Center that is so popular in Carmel. The Monon Center is a public facility operated by the Carmel/Clay Board of Parks and Recreation.
The Monon Center Aqua Park opened on the 23rd of May and will be open through Labor Day. This includes a lap pool with six 25-yard lanes, a lazy river (where do I sign up??), two water slides, a kiddie pool and a deep pool with a one-meter diving board.
There is no membership required to visit the Monon Auqa Park. You can buy an annual or monthly pass, but you can also purchase a 10 visit pass or a daily pass for as little as $8.00 a day or if you qualify for youth or senior, only $5.00 a day. The 10 visit pass is $50 or again if you qualify for youth or senior, then only $40.
Parking has been a bit of a problem, so I would recommend parking in the east parking lot that is only accessible from the park entrance off of Rangeline Road/Westfield Blvd.
The Park is located between Rangeline and College and between 111th and 116th street; residents from Lexington Park can walk there as can many other Carmel home owners in the area.
It depends on many factors such as your inital listing price, the condition of your home and to some degree where it is located. Your Carmel Realtor® is an accountant by background and LOVES the analysis involved in selling real estate.
So, those living in east Carmel (46033) actually sell quicker than those living in west Carmel (46032); but just barely. Typically the average days on market (DOM) are less than 90 for 46033 and are at 95 DOM for 46032. This may be because the price point is a tad higher in west Carmel.
Neighborhoods in Carmel 46033 that do exceptionally well (less than 30 days) are:
Neighborhoods in 46032 that do exceptionall well are:
Plum Creek Farms
Foster Grove
Carolina Commons
Neighborhoods in 46032 that have some lenthier time on the market are:
Copperwood
Foster Estates
Some things to keep in mind as you think about your neighborhood and your Carmel home are:
If you back up to a road it is an automatic 4-6% reduction in price per sq ft
If you can hear 146th, US31 or Michigan Road it will take longer to sell your home
If you have bold colors or clutter, your home will take longer to sell and at a lower price
If you have smoke in your home, prepare for a very very lengthy time on the market
If you have not updated your home, specifically bathrooms and kitchens and were built before 1990 if will take you longer to sell. Updates do NOT include roof, HVAC or windows; those are maintenance items. However, they will usually decrease the time that home is on the market but will have little effect on pricing.
When you are ready to sell your home, be sure to contact your Carmel Realtor® who can run the comparables in your neighborhood, suggest a stager to make your home as appealing as possible and market your Carmel home better than any other real estate agent!
Active Homes for sale in Fishers Indiana for May total 735. What is most interesting is of the 189 new listings that came on the market in May, nearly 20% of them were from high end neighborhoods (sale price over $500,000) including Bridgewater, Canal Place, Lake Stonebridge, and Windermere Pointe. This may tell us that consumer confidence is beginning to come back or it may tell us executive job loss is on the rise; what's your call?
This market report covers the activity for May 2009 and is for both Delaware and Fall Creek Townships. Please be sure to look at our Market Report category for previous month reports.
Active Single Family Homes Listed in May 189
Single Family Homes Currently Active 735
Single Family Homes Sold in May 140
Average Sale Price per sq ft $96 (Nearly a 10% increase over last month)
Average Days on the Market 70 (Over a 25% decrease over last month)
The neighborhood with the most sold in May were Sumerlin Trails (7) and Sunblest Farms (8). These are first time buyer priced neighborhoods so that makes sense to see those turning over more. If we look at May of 2008, we had 167 homes sell, compared with 140 in 2009. This is a 15% decline from 2008; this is still encouraging since our decline %ages have been in the 30's for previous months of 2009 compared with 2008.
What is, however, very interesting is the number of distressed homes (aka deals in Fishers Real Estate!) that sold in May. In 2008 we had 5 or 3%; in 2009 we had 14 or 10%.
The most expensive home that sold in the Fishers Real Estate market was $1,155,000 this month in The Hawthornes near 106th and Geist Road. It was on the market for 292 days. The lowest priced home was in Marilyn Ridge for $71,000 and it was in foreclosure.
The most expensive Fishers home listed this month is actually one of mine, at $2,200,000 in The Overlook and sits on hole 16 with over 11,000 square feet.
Finally, one last tidbit that I think supports the Fishers Real Estate market being hot. Of the 117 homes pended in May; 39 of them or 33% were on the market LESS THAN 30 DAYS! Also of those 117 homes pended 44 or nearly 40% were less than $175,000. The first time buyer is buying and in some cases, actually being too late to get the house they want because there is competition for that price point.
If you would like information about your specific neighborhood such as active listings, average price sold over the last year, or appreciation rates, please contact this Fishers Realtor.
One might think Carmel Real Estate wouldn't have bank owned as the price point in Carmel is fairly high. I just pulled the entire inventory and there are seven bank owned homes.
There are an additional 22 if we include short sale or pre foreclosure. But, if you are in the market for a deal and timing is important you should read about these bank owned properties. They typically respond much quicker and close in a timely fashion, that cannot be said about short sale or pre foreclosure properties.
The list includes a $1,500,000 home in Crooked Stick that was built in 1990 and is assessed for about $800,000 and has been on the market for 98 days and was last purchased in 2003 for $1,250,000.
There are several "deals" in the list. My picks are the one in the Village of West Clay on Treaty Line and the one in Surfwood on Norriston Drive. Both of these have significantly higher assessed values and are in popular areas for resale. The one in Williams Creek is approaching a good deal; it sold in 1993 for $290,000 and is assessed at $403,000 and is also in a popular area. Lexington Farms is a great area as well because of it's proximity to the Monon Center and Trail. Be sure to look through our neighborhood reports for Carmel Homes.
Deteriming a great deal for Carmel homes that are for sale is best done with Carmel Realtor® assistance. I can look at the history to see when it was last purchased, how long it has truly been on the market (many times it is pulled and re listed), run the comps and I know the neighborhoods. While the market is beginning to turn from a buyers market, there is still time to get a great deal in purchasing a Carmel home.
Cheswick Place located west of Spring Mill and north of 136th (Smokey Row) is a classic neighborhood of custom built homes and beautiful grounds. The subdivision was developed by Ray Roehling in 1996, with most of the homes being built in the late 1990s and early 2000s. There are a few homes on Broad Meadow and on Princeton Gate that were even built as late as 2006.
There are 164 homes in this subdivision. Over the last year, six homes have sold and there are currently seven on the market. That is a one year absorption rate. Of the homes sold, all them had at least five bedrooms and four full baths and over 4,000 sq ft without the basement. All of the basements were over 2,000 sq ft making these very large homes in Carmel. Almost all of them had four car garages as well. The price per sq ft of the homes sold was $136 and the days on market were on the average less than 30 days.
Currently there are seven homes on the market with an average price per sq ft of $148 and one of those seven is a distressed property. We can definitely see a change in the market as we look at days on the market; most are all well over 30 with one on Sable Run at nearly a year on the market.
Overall prices for homes in Cheswick currently on the market are $575,000 up to $700,000. If you'd like to see a home or know more about the homes available, please contact your Carmel Realtor!
Fishers home owners enjoy great schools, appreciating values in neighborhoods and many local events to enjoy. Crime is not something that is talked about often here. But, as summer approaches and people take vacations and are away from their Fishers homes, I want to at least publish some helpful phone numbers and links. Fishers Crime Watch is a great resource to learn about setting up a neighborhood watch and they also have a link showing the crimes for various areas in Fishers for the month and various tips.
Here are some of the local numbers and links for you to use:
Sumerlin Trails is located off of 121st just west of Hoosier Road; there is also a newer area being built by Westport homes off of Hoosier Road. Together these two area of Sumerlin Trails has 376 homes.
I want to focus primarily on the older neighborhood of Sumerlin Trails.
There are currently four active homes in this division with an average price per sq ft of $75 and an average DOM (days on market) of 88 days. There are six pended at $80/sq ft and an average of 33 DOM. This price point in Fishers is flying off the shelves right now. The solds for the last year are 12 with an average price per sq ft of $74 and 71 DOM. That tells us that the absorption rate is less than 90 days which is a GREAT resale area.
They are mostly three bedroom homes without basements. The popularity of this neighborhood is probably because it has a treed lined area and their is a nice mix of ranches and two story homes that makes it feel less cookie cutter. Their sq ft varies greatly from 1500 to over 2300. It is a more mature neighborhood with trees and winding roads. The only catch is that the west side of the neighborhood can hear I69 traffic on a clear day.
The newer side of Sumerlin Trails off of Hoosier Road is a little less popular with an absorption rate closer to six months. The average price per sq ft of the actives is about $82. The street names in this newer area are Cool Winds, Schoolhouse and Long Lake.
If you are curious about other neighborhoods in Fishers, read the additional posts I've written.
I am currently working with Jennifer and we've found one in this neighborhood that fits her criteria. Watch for her on our home page of the Fishers Real Estate Website. She is a first time home buyer and will be enjoying the $8,000 tax credit soon! Be sure to click on the tab on our tool bar above if you are not aware of the tax credit for first time homebuyers!
Spring is here and if you are planning to buy a home, here are my Top 5 Secrets for making the process successful:
1) Know the difference between Pre Approval versus Pre Qualified and get Pre Approved. Don't just spend a few minutes on the phone with a lender and get a letter; but rather spend time with the lender and give him or her the appropriate documents so that you are Pre Approved. The market is shifting again, specifically in the first time buyer market. Houses are seeing multiple offers and price is not the only factor for a seller to choose their buyer. A buyer's financial strength will matter, play competitively.
2) Make your offer with as few contingencies as possible, most certainly do not make it contingent on selling your home. There is a season where that works well; it is winter. During the Spring months there is too much competition to tie your offer to any contingency.
3) Have a list of your "must have" and "wants" ready; without it you may find yourself drawn to those homes where decorating influences you. For example, I had a buyer that had to have a large fenced yard. We walked through a home that was tastefully decorated right out of Pottery Barn with a postage stamp yard. It is hard not to fall in love with the look and feel sometimes and still keep the functionality in check.
4) Don't feel pushed to buy a home. As a Realtor, I will pull the comps, give you website for crime statistics and encourage you to visit the home/neighborhood during different times of the day to be sure it is the right home for you.
5) If it is the home for you; try not to mull it over too much or bring in various family members for their opinions. In this market, when you are sure it is the home for you, you need to put the offer together to ensure you get the home.
There are many factors to consider in buying a home and these are just my Top 5 Secrets or things to consider. I've included some additional reading below. I would encourage you if your are a first time buyer in the Fishers area to attend our first time buyers class held every month on the last Saturday; check our Fishers Real Estate Website for more registration details. If you are a move up buyer, please be sure to visit our website where you can search for your new home by either price or by neighborhood (Fishers, Carmel, Geist or Noblesville) or call me and I'll set up the search specific to your criteria.
As always, be sure to post your questions here and I'll try to answer as many of them as I can.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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