The data is out for July so we can look at some trends. This is the market report for Carmel Homes that have sold over the last seven months. It is interesting to note that the difference between 2008 and 2009 is fairly consistent over the time period. This month was a 16% decline, with the YTD difference at 21%.
For July in particular, we saw 128 homes sell. The best "deal" on paper was at 13066 Fleetwood which was a 3,000 sq ft home with another 1,100 sq ft in the basement for $157,000 (or $53/sq ft). It however needs a complete renovation. The highest priced home was 12749 Parsons Gate in the Village of West Clay that sold for $1,425,000 ($292/sq ft) and had nearly 5,000 sq ft and an additional 2,800 in the finished basement.
Overall on a YTD basis for 2009, the days on market are 81 and the average price per sq ft is $114 (of course this varies by neighborhood, so be sure to check out our Carmel Neighborhood reports). For 2008 YTD through 7/31/08, the days on market were 80 and the average price per sq ft was $121.
The days on market are fairly consistent at less than 90; which is great news for Carmel residents. Of course, the ones that sell in less than 90 days have the right price, great staging and the best Realtor®!
The distressed properties are on the rise, with 23 from January to July in 2008 and 46 in 2009. I just completed the market report for Fishers Real Estate a few days ago and they are actually seeing the distressed properties start to decline. June of 2008 is when we initially saw the start of the distressed properties on the market.
Finally the number of Carmel Homes for Sale are 857 and 214 of those were listed in July. That means a lot of choices for those searching for a home in Carmel.
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