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Tuesday, October 28, 2014

When Down Is Up - Carmel Housing 2014

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I feel like every year I say this...but every year since '08 it's held true. It's been another weird housing year to date in Carmel. The stats are both down and up and for the most part that's good news.

Through October 28, 2014 1465 homes have gone under contract and closed in Carmel. Last year on 10.28 1605 homes had sold or about 9% more in 2013 than '14.  That seems like it would be a negative but not when you dig further. 

The average sales price in Carmel this year is $344,320 compared to $326,425 one year ago. In 2013 on October 28 homes were on the market an average of 72 days compared to 62 this year. One year ago on 10.28 homes were selling for an average of $120 per square foot compared to $123 this year. 

In general we went through a very busy April and May, tailed off in the main three months of Summer in June, July and August in some of the upper price points (above $500,000) and then in later September and October have surged again in both units sold and in values. No doubt the lowest interest rates in a year this month have helped but assuming that to be the cause would be an oversimplification. Bottom line to so far in this year's housing market is that units are down but values are up....and that's not bad.
greg cooper, to selling carmel indiana realtor agent broker neighborhood specialist 

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