Village of West Clay, Carmel, IN (46032) market update 10/23/09
www.talktomitchell.com
Buyers and sellers who are interested in a quick update of the real estate market in the Village of West Clay for homes priced between $850,000 and $1,499,000 here is the latest.
There are currently 17 homes on the market priced between $850K and $1,499K. The average days on the market are 147 and the average price is $230/sqft. Of the 17 homes in this search range, 5 are priced over $1,000,000.
During 2009, thus far 5 homes have sold that were listed between $850K and $1,499K. The average days on the market for these homes were 265 and the average price per sq ft sold was $210. Of these 5 that sold, 1 was over $1,000,000.
If you branch out into the 46032 zip code (Carmel) there are currently 59 homes being actively marketed in the $850k-$1,499,000. There is one "pending" in Lauralwood at $1,299,000 or $162/sq ft. During this yr 17 homes have sold in this search range, 7 over $1,000,000 with the average days on the market at 171, average price per ft $190.00. Given the number of listings and current consumption rate we have 58 months of inventory.
If you are selling in this area and this price range it's like a job interview you better have something that causes a buyer to pick you out of the list of 58. Unlike the boom era of housing your house is just like a product or commodity and you better have a (UPD) Unique Point of Difference. A UPD could be location, location, location, it can be perceived price value relationship (look at the home pending in Lauralwood $162/sq ft appears to be a good price/value relationship), unique (desirable) lot, whatever the UPD , sellers need to exploit this as best they can through their marketing and communication materials. It's going to continue to be a rough couple of years for the higher end market and sellers must be as sharp as they have ever been because only 1-2 get chosen each month.
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