Indy Realtor's Blog: Carmel Real Estate

Westfield Indiana just received a $900,000 grant from the state that the city will use to extend the Monon Trail from 161st to IN 32.  The Monon Trail in Westfield was just 1 in 28 similar projects around the state of Indiana to receive a total of $19 million in grants from the Indiana Department of Natural Resources. 

Westfield in hoping that the improved trails will lead to future growth and development of its downtown area where the Monon will intersect with an east-west trail, Midland Trace, which runs south of IN 32.  Westfield has already been planning on extending the Monon from the Carmel borders to 156th with work expected to begin this summer.  Eventually the city intends to extend the trail up to 216th street and add a loop from 161st street…

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The Indianapolis condominium market is about to become even more of a buyer’s market; with over 1,000 units either recently built or under construction competition is getting fierce and prices are being reduced.  This situation is not unique to the Indianapolis area as developers across the country face the same situation.  Many condo projects were started several years ago during the real estate boom and have yet to be completed leaving developers with unsold units and a changed marketplace.  While some condos are being converted to rental units, there is still a huge supply of condos on the market.  According the National Association of Realtors, the U.S. finished 2007 with enough condos to absorb 10 months of demand; and with more and more projects…

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Grandin Hall in Carmel is new community of 54 homes by the local builder Estridge Homes along 146th Street just west of Hazel Dell Road.  This charming community offers homes ranging from the high 500’s to just under one million dollars and is being offered by the custom branch of Estridge Homes.  Grandin Hall, while not a 100% custom experience, is about as close as you can get without going totally custom.  Estridge offers four unique floor plans and each of those floor plans has a choice of 5 very distinct elevations to choose from.  If you are considering a house, they will draw custom plans for you so that you can see what your home will look like once completed.  The home site is not included in the base price of the home and these can range from…

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The Village of West Clay in Carmel Indiana is an extremely unique, extremely diverse mixed use community that boasts a mind boggling diversity of architecture and is a masterpiece of community development. West Clay offers people looking for Carmel real esate anything from a quaint condo or villa, to an estate sized home worth well over $1,000,000. West Clay is still being developed and will be for the next few years so the sold data will not be 100% accurate; however the statistics are as follows:

 

  2006 2007 % Change Active … Read Full Post

The Lakes at Hazel Dell in Carmel Indiana is a very sought after community because of its great value, great schools, great location, and quality of homes. Carmel real estate usually outpaces the rest of Indianapolis and Lakes at Hazel Dell is another quality community that helps Carmel real estate remain at the top of the pack. Let’s take a look at last year’s numbers:

 

  2006 2007 % Change Active N/A 2   Homes Sold 10 … Read Full Post

The Bridgewater Club in Carmel Indiana is one the area’s finest luxury golf course communities.  Masterfully planned, the development boasts an unbelievable array of amenities including a fitness center, a full service restaurant, a 25 meter pool and much much more. 
As you will see in the numbers, Bridgewater has a very wide assortment of homes ranging from villas to multi-million dollar estates on estate sized lots. It is important to keep in mind that the Bridgewater Club is still being developed and most of the builder’s number will not be in here:

 

  2006 2007 % Change Active N/A 2   … Read Full Post

 

While the rest of Carmel real estate and Indianapolis as a whole have seen dramatic decreases in the number of homes sold, Bayhill real estate has seen an incredible 110% increase in the number of homes sold for 2007 versus 2006.  Here is a breakdown of what happened for 2006 and 2007 for Bayhill real estate:

 

 

  2006 2007 % Change Active N/A 2   Homes Sold 10 21 110% High Selling Price $775,000 $899,900 16% Low Selling Price … Read Full Post

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…

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