Carmel Real Estate Market Sees Little Improvement in June, 2012

It might take some squinting at the data, but a close look at the Carmel real estate market stats for June shows several improvements were realized in June. The market posted a nice 4.6-percent improvement in total sales, as a total of 183 closings took place in June versus the previous month’s total of 175. Even better, compared to last June’s total of 161 this is an increase close to 14 percent. But the biggest improvement in this area came in the form of a 25.6-percent increase in the average number of closings to take place each month, from April through June of this year, relative to this same period 1 year ago. The most recent average of 162 is most definitely an improvement over last year’s average of 129.

Another area of improvement concerned total listings. June’s total of 773 homes for sale represents a slight, 0.3-percent decrease versus the previous month’s total of 773. But the big news as it concerned total listings was that this is a 15-percent decrease versus last June’s total of 909 listings. As well, the average number of homes listed on the market from April through June of this year fell 15.3 percent relative to this same period last year.

One area that saw very little improvement, no matter how you analyzed it was total pending sales. After climbing for 4 consecutive months, and finally reaching a 15-month high of 177 in April of this year, total pending sales has now fallen for its 2nd straight month, reaching 142 in June. Not only was June’s total of 142 down nearly 12 percent versus the previous month, but even compared to June of 2011, this is still down by 1.4-percent. The only bright spot–if it can be called that—is the fact that the average number of pending sales per month, from April through June of this year, was up almost 16 percent relative to this same period 1 year ago.

Some other Carmel real estate market stats that might interest you:

  • Carmel homes sold for a respectable average of 92 percent of original asking price in June. This compares very favorably versus other nearby Central Indiana markets that have not fared nearly as well.
  • The sold-list differential based on final asking price was an even better 96 percent. Not only is this an improvement versus last June’s average of 94 percent, but it is up 1 percent versus the 12-month average sold-list differential of 95 percent.
  • The absorption rate based on closed sales was 23.7 percent, and the absorption rate based on pending sales was 18.4 percent.
  • There were 4.2 months of inventory based on closed sales and 5.4 months of inventory based on pending sales.
  • The average active price was $477,000, while the average ‘sold’ price was $336,000.
  • The median price in Carmel was $283,000.

View other Carmel Real Estate Market Reports.