Carmel Home Sale Rise 23.9 Percent in June, 2011

The month of June was kind to sellers, as the total number of homes sold in Carmel, Indiana rose 23.39 pecent, from 145 in May to 145 in June, 2011. Compared to last June’s figure of 149 sales, however, the picture wasn’t quite so bright, as this represents a decrease of 2.7 percent in total sales. In a quarterly comparison, there were 10.4 percent fewer homes sold per month, on average, from April through June of 2011 comapared to this same period last year, or 121 versus 135 respectively.

Things didn’t go nearly as well in the statistical category of total pending sales, as there were just 122 pending sales in June, or 9.6 percent fewer, compared to 135 the previous month. Compared to last June’s total of 117, however, this represents an increase of 4.3 percent. There were 4.4 percent fewer pending sales per month from April through June fo 2011 compared to this same quarter last year, when the average was 136 pending sales per month.

As if sellers needed more competition, the total number of Carmel homes for sale rose 2.2 percent, from 889 in May to 909 in June, 2011. Compared to last June, the increase was an even sharper 6.7 percent. On a per-quarter basis, there were, on average, 74 percent more homes listed on the Carmel real estate market from April through June of 2011 compared to this same quarter last year, when the average was 834 listings per month.

Some other pertinent Carmel real estate market stats:

  • The average time spent on market fell 11.2 percent, from 89 days in May to just 79 in June. The 12-month average time on market is 89 days.
  • The absorption rate based on closed sales was 16 percent, while the absorption rate based on pending sales was 13.4 percent.
  • There were 6.3 months of inventory based on closed sales and 7.5 months of inventory based on closed sales.
  • The average active price was $432,000, while the average ‘sold’ price was $346,000.
  • The median price was $287,000.