After writing many Carmel Indiana real estate market reports, it is time again to do the six months in review. I am comparing the first six months of 2009 to the same time period of 2008. What is most interesting is the increase in the number of distressed properties. There were 38 in 2009 compared with only 22 last year during this same time frame, that is a 72% increase!
The actual number of sold homes is down nearly 25% from a year ago; with only the "less than $150,000″ priced homes showing an increase.
This is actually good news. This means that more and more first time buyers are entering the market and as they buy these homes, that will allow that tier to move up in their home purchase price.
The largest decline as expected is in the higher priced homes (over $350,000) showing a decline of 36% from a year ago. The middle tier showing a decline of 21%. But as we just mentioned, this should start to see improvement in the 3rd quarter of 2009.
Carmel neighborhoods showing the most activity were Village of West Clay (30!), Saddle Creek (20), Brookshire (16), and Plum Creek (10). The most expensive home that sold was in Claybridge for $1,000,000.
The chart also shows the days on market (how long from the listing date until it is closed) is up to 92 from 79 a year ago and the average price per sq ft sold is down just a bit from $119 to $111 in 2009.
The Marchant Team sells in many areas of NE Indianapolis, in addtion to Carmel. Please read our market reports for Fishers, Geist and Noblesville.
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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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