The Carmel real estate market report for April 2008 is sending mixed messages with the number of Carmel homes sold down and the average selling price for Carmel real estate is up. Here is what happened in April 2008 on the Carmel real estate market for homes under $700,000:
2007 |
2008 |
% Change |
|
| Active | N/A |
734 |
|
| Homes Sold | 100 |
53 |
-47% |
| Average Selling Price | $117,856 |
$125,815 |
7% |
| Days on Market | 83 |
107 |
29% |
| Price Per Square Foot | $71 |
$65 |
-8% |
As you can see the number of homes is down pretty significantly at a 26% decline while the average selling price is up 3.5% over last year. In addition, the average days on the market is relatively unchanged with it only taking 3 days longer to sell a house this year versus last. Interestingly, while the average selling price was up the average price per square foot was down slightly.
I believe that what is keeping the prices on the assent is the relatively low supply of home on the market. There are currently 564 homes on the market and 1291 homes sold in the last 12 months; this equates to a 5.24 months supply of homes on the market. This is quite low and among the lowest in the entire Indianapolis area.
If you are looking to take advantage of this time to buy a home in Carmel, visit our Indianapolis real estate website to search all Carmel homes for sale. If you are looking for a home in Carmel, you also might be interested in viewing our Westfield real estate website or our Fishers real estate page to other homes for sale in the Hamilton County area.
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