hostgator promos hostgator coupon EastOfKeystone & Beyond : Carmel Real Estate In March....Improving

Wednesday, April 8, 2015

Carmel Real Estate In March....Improving

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It's still hard to believe that as bad as the winter of 2013-14 was, we continue to run behind in units of homes sold from a year ago. That's only half the story, fortunately. Our average sales price and price per square foot has jumped and that's a positive that all of us are pleased to hear. We're do the summary and the crystal ball so you can have a sense of where the next few months are heading in Clay Township.

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First, in March of 2015 in Carmel 152 homes went under contract (166 in 2014 in the 1st quarter). The average sales price in Carmel jumped from $329,882 last year to $344,730 in the most recent three months for an increase of over 4% in Q1. Very impressive! Homes to date in 2015 sold in an average of 66 days on the market compared to 72 one year ago. Last year through March homes were selling for $122 per square foot compared to just over $130 PSF this year, again a very positive sign. The inventory has changed and is slightly less than a year ago on 4.1 but not at this moment a hugely differentiating factor for the current calendar year. You can see all of the Carmel homes that went under contract in March HERE.

So let's prognosticate a bit and look at what may be ahead. In April of 2014 we have 267 new properties come on the market and 180 homes went under contract so we can expect the inventory to grow this month. That's good as we need more product for consumers to choose from. May and June will continue that trend of available homes as well. 

Here's one word of caution. An anecdotal word from what I'm seeing personally. Buyers are picky. They want it done. They don't want a project with out clear reward meaning sizable equity growth for their efforts. For every 'wart' that a home has that makes it less desirable in the market, the longer it's going to take to sell which ultimately means less money for the sellers. In other words despite low inventory, some homes that need a lot of updating are still sitting. Keep that in mind for your preparation to go on the market and your expectation of return. Most of all best of luck and have a great Spring Carmel!

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