The Carmel housing market ended the year on a hugely high note with the December 2012 report. And while not quite as impressive, the year-end 2012 Carmel housing market report showed lots of reason for optimism as we get on with 2013!
Carmel Housing Market Report | December 2012
In a month which is typically slow for real estate, there were some huge jumps in sales numbers from December 2011. All categories were headed in the right direction -- and not just marginally, either. Closed Sales took a 45.9% leap from the previous year. That's a lot! Median Sales Price, Average Sales Price and Average Days on Market also rose or fell appropriately, and by enough to notice.
New Inventory numbers continue to make things interesting for the Carmel housing market. The number of new Carmel homes on the market was down 30.1% in a month-to-month comparison of December 2012 to December 2011. It's true that most people don't put their home on the market in December if they can avoid it (although listing your home during the holidays isn't necessarily a terrible thing), but such a drastic decrease in new listings is noteworthy; especially since inventory has decreased steadily for the past three months (-12.7%).
Carmel Housing Market Report | 2012 Summary
Throughout 2012, Closed Sales was the category that rose most dramatically in the Carmel housing market, and that holds true for the entire year as well. Closed Sales in 2012 were up 38.4% as compared to 2011. That number signals increased buyer confidence and ability, and seems like a good indication that the market really is on the upswing
Carmel Housing Market | 2013 Predictions
If Closed Sales continue to rise dramatically and New Inventory continues to decrease as it has for the past months, the Carmel housing market is looking at an upcoming shortage of inventory -- which matches what is predicted throughout the nation for 2013. Lack of inventory means more competition among buyers for homes, which means higher sales prices. Which means 2013 has potential to be a good year for sellers!
The spring selling season is just around the corner. If you are planning to sell, first find out what your Carmel home is worth by asking your real estate agent to prepare a comparative market analysis. This report will help you price your home correctly by providing information about comparable homes currently on the market or that have sold in your area.
Check back next month for the first Carmel housing market report of 2013!
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