Carmel Indiana Real Estate Market Report for October 2009

By
Real Estate Agent with Keller Williams Indy NE 317-290-7775 www.marchantteam.com

With 731 homes for sale in Carmel, it is good to see them selling again!  Of the 731 homes for sale in Carmel, 245 of them are over $500,000 or 34% and 62 of them are less than $150,000 (less than 10%). In addition 93 of those 731 homes were built in 2009 so still a very active new construction market in Carmel.

Carmel Real Estate SoldThe graph shows two months in a row where 2009 sales are more than 2008 and October is showing a 63% increase, which is a significant increase from a year ago.

In October we had 126 homes sell and there were five that were over $1,000,000.  The first one sold for $1,250,000 in the Village of West Clay, but was on the market since April of 2008.  The second one sold for $1,100,000 in Laurelwood and was 10,000 sq ft on over 1.5 acreas.  It was assessed at $1,700,000 and as a result sold in 21 days.  Quite a difference between those two; showing pricing will make a difference.

There were 21 homes sold in Carmel that were less than $150,000.  It is hard to find a home in Carmel in that price range, but it can be done.  This Carmel Realtor knows where they are.

Distressed properties were 19 this month compared with 8 last year; so those deals are still out there.  I closed one of those this month; it was in Bellewood.  We bought it for $485,000 and it was in great condition; the last time it sold it went for over $700,000.  My buyer got instant equity!

The Days on Market were 84 this year and 83 last year so no real change and still less than 90 days which is great and not surprising for this area with a great school system, shops and those lovely round-a-bouts!

The price per square foot took a nice increase in comparing the two years, from $108 to $112 or a 4% increase.

Finally the neighborhoods that sell the most are the usual suspects with Village of West Clay, Lexington Farms, Brookshire and a new one this month, Lenox Trace.

Let me know if you would like your neighborhood evaluated specifically because the data does VARY by neighborhood.

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Cindy "in Indy" Marchant - Carmel Real Estate Agent
Keller Williams Realty Indy Metro NE
Carmel IN Real Estate Website
317-290-7775

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Rainmaker
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Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

Good looking report with graph and very informative, hope it is working for you.

Nov 16, 2009 11:57 AM #1
Rainmaker
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Judy Greenberg
Coldwell Banker Long Grove - Buffalo Grove, IL
Coldwell Banker - Buffalo Grove - Long Grove Homes

Cindy, this is an excellent post and I'm sure very informative for the Indy client!

Nov 19, 2009 12:28 AM #2
Rainer
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Beverly Fast Sinclair
Keller Williams Realty - Carmel, IN

Excellent report! Great job Cindy.

Nov 26, 2009 12:52 PM #3
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Cindy Marchant

"Cindy in Indy" , Realtor, Fishers Real Estate
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