Here is a look at the Carmel real estate market report for the month of May for 2008 vs. 2009:
|
2008
|
2009
|
% Change
|
|
| Active |
N/A
|
7469
|
|
| Homes Sold |
133
|
95
|
-29%
|
| Average Selling Price |
$330,225
|
$316,741
|
-4%
|
| Days on Market |
75
|
81
|
8%
|
| Price Per Square Foot |
$119
|
$113
|
-5%
|
| List Price / Sales Price |
97%
|
95%
|
-2%
|
Here is the YTD numbers for some perspective:
| Number of Homes Sold | Average Selling Price | |||||
| 2008 | 2009 | % Change | 2008 | 2009 | % Change | |
| Jan. |
61
|
45
|
-26.23%
|
$349,289
|
$298,853
|
-14.44%
|
| Feb. |
70
|
51
|
-27.14%
|
$362,693
|
$267,568
|
-26.23%
|
| March |
104
|
67
|
-35.58%
|
$344,503
|
$286,984
|
-16.70%
|
| April |
108
|
73
|
-32.41%
|
$322,869
|
$260,474
|
-19.33%
|
| May |
133
|
95
|
-28.57%
|
$330,225
|
$306,038
|
-7.32%
|
| June |
|
|
|
|
||
| July |
|
|
|
|
||
| Aug. |
|
|
|
|
||
| Sept. |
|
|
|
|
||
| Oct. |
|
|
|
|
||
| Nov. |
|
|
|
|
||
| Dec. |
|
|
|
|
||
|
|
|
|
|
|
|
|
| Totals |
476
|
331
|
-30.46%
|
$341,916
|
$283,983
|
-16.94%
|
I even broke it down for YTD homes sold in Carmel for under 900K thinking that a few high priced homes may be skewing the results:
|
2008
|
2009
|
% Change
|
|
| Active |
N/A
|
|
|
| Homes Sold |
525
|
369
|
-30%
|
| Average Selling Price |
$301,930
|
$284,852
|
-6%
|
| Days on Market |
83
|
96
|
16%
|
| Price Per Square Foot |
$115
|
$108
|
-6%
|
| List Price / Sales Price |
96%
|
95%
|
-1%
|
- In addition to these numbers, there are 153 homes that are pending with an average asking price of $347,160.
- The absorption rate or months supply of homes is currently 9.94.
Even after for adjusting for the higher end homes, the Carmel real estate market still shows a 30% decrease in the number of homes sold and 6% decrease in average sales price. The average sales price is better in the under 900K category, but the fact does remain that 30% fewer Carmel Indiana homes sold this year compared to last. The one bright side I can see to this month is a big decrease in the average sales price loss from last month. If you look at April, we saw a 19% decrease in the average sales price compared to only a 7% decrease this month. Let’s hope this trend continues.
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Date: 2009-06-17 10:03:28Views: 1202