I have spent this morning analyzing the data for 2008 homes sold in Carmel Indiana compared with 2009. I have a graph that shows this information by quarter.
For the year 2008, 1299 homes were sold with an average price of $345,457 compared with 1261 homes sold in 2009 with an average price of $315,991. For the year, we saw an 8% drop in price and a 3.0% drop in homes sold in the Carmel area. I wrote a similar post for Fishers Real Estate a few days ago, their drop was 3.5% in volume. My team mate does a market report of homes sold in Noblesville.
Part of the decrease in price can be explained by the increase in foreclosed or distressed properties that sold during 2009, which saw a 67% increase! There were 70 homes in 2008 compared with 117 in 2009. This pricing can definitely impact the overall price statistics.
It is great to see the last quarter of 2009 solidly beat the last quarter of 2008, after trailing all year!
It is also important to look at the days on the market, how long does it take to sell a home in Carmel Indiana. For 2008 the number was 78 days, for 2009 the number increased to 84 days. However, in what was termed the most turbulent year in Real Estate, these numbers are still less than 90 which is great!
The Marchant Team sold their listed homes in 67 days on average for 2009 at a sale price to list price of 97%. We had great success because of our methodology and strategy in selling homes.
The following graph shows the data for Carmel Homes for Sale that sold by month. You can see that for December it was exactly the same number at 95. The largest home that sold in December was for $1,560,000 and had 7,000 sq ft and an additional 3,000 sq ft in the basement. It had 6 full baths; that is a lot of cleaning! It was in Laurelwood and had only been on the market 83 days.
There were 11 houses in Carmel that were over $500,000 that sold in December. Several of them had been on the market over a year, so hopefully the higher end homes are starting to see improvements.
There were 10 homes in Carmel that sold for less than $101,000. We did see an increase this year in bank owned and other distressed property as mentioned above.
For December, the DOM were 88 and the average price per sq ft was $109. Neighborhoods that sold the most homes were Village of Mt Carmel, Village of West Clay and Springmill.
If you are thinking about selling your Carmel Home, I hope you will contact me for an interview. I would love the opportunity to share our strategy and success with you.