Carmel Real Estate Report - November 2007

Active:

In November 2007, 104 homes were added to the Carmel real estate market with an average listing price of $286,248.  There are currently 551 total homes on the market with an average asking price of $300,836.  The active homes are asking $124 per square foot and have been on the market for 98 days.

Sold:

November 2007 saw 65 homes sell in Carmel with an average selling price of $270,081.  The sold homes in November 2007 sold for $110 per square foot and took 95 days to sell.  November 2006 had 80 homes sell on the Carmel real estate market with an average selling price of $291,121. 

As you see the Carmel real estate market is down in both the number of units sold and the average selling price.  The number of homes sold is down 18% while the average sales price is down 7% this month.  This is not cause for too much concern though because although we have seen a consistent decrease in the number of homes sold, the average selling price has been up for the past two months. 

Based on the number of homes currently for sale and the number of homes that sold in the past 12 months (1307), there is a 5 months supply of homes on the market.  This is great news, this among the lowest in the area and an indication that the Carmel real estate market is healthy despite the overall slowdown. 

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