The 1st Quarter Carmel Real Estate Market Report is quite revealing. I am comparing the first three months from this year to last year and looking at various statistics.
As many of us expected, the decline in Carmel homes sold in the first quarter of 2009 was 34% less than in 2008.
What is perhaps a bit of a surprise is that nearly a third of the decline is in the price point over $500,000. Of the 76 home difference; 24 of them were in the over $500,000 category.
If we look at just the homes between $125,000 and $500,000 we can see that the days on market has increased about 13% and the price per square foot has decreased 8%.
The number of distressed properties has increased by 50% at 12 for this first quarter and only 8 last year at this time.
The top builder in 2009 with five of the 17 new construction is Ryland (Stanford Park) with both Drees and Pulte each with 3 new builds that closed in the first quarter.
Neighborhoods with the most sold in the first quarter for the Carmel Real Estate market were:
- Saddle Creek 8
- Village of West Clay 8
- Shelborne Green 4
- Plum Creek 4
There were seven homes in the first quarter of 2008 that sold for over $1,000,000; there were zero in the first quarter of 2009. Currently there are 57 homes on the active market in Carmel that are over $1,000,000 and one of those homes is a distressed property (bank owned). Let your Carmel Real Estate Agent know if you would like more information on that particular home.
Cindy "in Indy" Marchant - Carmel Real Estate Agent
Keller Williams Realty Indy Metro NE
Carmel IN Real Estate Website
317-290-7775
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