Looking Back -2013 Midtown Housing

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Whether you were a fan of our Arts and Design District's redevelopment early on or not, it's become a very interesting, vibrant place to be. The housing is starting to catch up to the business development and over the next few years it will become a remarkable community of it's own if it hasn't already.Defining the area as roughly between Meridian and Keystone Parkway from 106th to the point where Keystone and Meridian converge, 'midtown' housing surged in 2013. 

In 2012 we had roughly 256 homes sold in this geography but in 2013 we went to 341 units of residential property under contract for approximately a 25% increase in sales. True, some of that reflects a better economy but it also reflects a genuine desire to be closer to things like the Monon, the Palladium and the A & DD as a whole. I personally have had numerous people sell their bigger homes and down size to this area as well as having a number of people gravitate to places like Monon & Main, The Brownstones on Guilford & Village Green as well as several other new and redevelopment areas. These are owned properties that don't include developments like Sophia Square that offer residences for lease. An under the surface detail we found with a little digging reflected new construction in mid town. Over 55 building permits were pulled for new homes being built in '13. Couple that with only 24 of them going into the MLS/BLC and the amount of tear down, rebuild homes going up sold by the builder in traditional Old Town has soared. It's a trend that likely will continue. 

Quantifying pricing and other general real estate statistics are nearly impossible in mid town given the diverse housing landscape but the bottom line is, more people want in and in 2014 will they will continue to find places to be closer to the heart of Carmel. 
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