The Carmel Indiana real estate report for February 2008 unfortunately does not offer a lot of good news for sellers. The number of sales are way down over last year while the average selling price is also down. Here is a snapshot of what happened on the Carmel real estate market in February 2008:
2006 |
2007 |
% Change |
|
| Active | N/A |
554 |
|
| Homes Sold | 91 |
55 |
-40% |
| Average Selling Price | $317,520 |
$295,416 |
-7% |
| Days on Market | 80 |
108 |
35% |
| Price Per Square Foot | $122 |
$112 |
-8% |
The number of Carmel Indiana homes that sold is down almost 40% over last year and the average selling price is down almost 7%. The days on the market are up 35% and the price per square foot is down 8%. Like I mentioned in my previous post, the only good news I can see is the absorption rate (# of month’s supply of homes currently on the market) is at a very reasonable 5.25. Despite these numbers, Carmel real estate remains very sought after and will most likely emerge from the downturn first.
If you are considering a new Carmel home, now is a great time to buy. Contact Mike Taylor at Rebate Real Estate or visit our Indianapolis real estate and homes for sale webiste to learn more about Carmel Indiana or our 50% commission rebate.
Comments(0)