Carmel Indiana Real Estate - October 2007

Carmel real estate has been for quite a while some of the most distinguished and desirable real estate in the entire Indianapolis area.  Carmel typically outpaces the rest when it comes to appreciation and October was no different.  While we did a pretty big decrease in the number of homes sold, buy the average selling price continues to increase. 

 Active:

 There are currently 569 active listings on the Carmel real estate market with an average asking price of $309,291.  The average home has been on the market for 92 days and is listed at $125 per square foot.  In October, 132 new homes were added to the market with and average listing price of $299,055.

 
Sold:
 
In October 2007, 84 Carmel homes sold with an average selling price of $292,136.  The average home was on the market for 87 days, sold for $116 per square foot and received 96% of the asking price.  October 2006 saw 102 homes close in Carmel with an average selling price of $282,945.  The homes that sold in 2006 sold in 85 days, sold for $111 per square foot and received 97% of the asking price.  Over the past twelve months 1293 homes have sold in Carmel meaning that there currently a 5.28 months supply of homes on the market. 

While the numbers of homes that sold are down by 17% the average selling price is up 3.25%.  Considering the current market conditions, this is extraordinary.  In addition, having an absorption rate of 5 months is the best in the entire city with some areas having as high as a 9 months supply of homes. 

Due to its great location, great schools, family friendly environment, and affluent residents Carmel is and will continue to be a highly sought after area.  For this reason, it is pretty much a safe bet when you choose to buy a home in Carmel.  If you are looking for a Carmel real estate agent, contact Mike Taylor at Rebate Real Estate for superior customer service and a 50% commission rebate.

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