Here is what happened on the Carmel Real Estate market in August 2008 with homes under $700,000:
|
2007
|
2008
|
% Change
|
|
| Active |
N/A
|
661
|
|
| Homes Sold |
142
|
112
|
-21%
|
| Average Selling Price |
$289,395
|
$291,020 |
1%
|
| Days on Market |
63
|
70
|
11%
|
| Price Per Square Foot |
$111
|
$110
|
-1%
|
Same old story again: the number of homes sold is down pretty significantly over last year with the average sales price up ever so slightly. The number of homes sold is off 21% compared to last year; however this is actually an improvement over the last several months. In addition, the absorption rate or the number of month’s supply of homes is trending slightly downwards. The days on the market is up 7 days, taking 11% longer to sell a home this year than last. However, 70 days to sell a home in this market is still quite good considering the real estate market in general.
Despite a decrease in sales activity, Carmel real estate is able to hold onto its value and therefore remains a great place to purchase a home. If you are considering a home in Carmel, visit our Indianapolis real estate website to search all the homes for sale in Carmel and the surrounding areas. If you are looking for new homes, you may also want to visit our Carmel new homes page for information about current new home projects.
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