An unmistakable improvement could be seen in the Carmel real estate market in April, 2012—and with winter a thing of the past, one would certainly hope so. Starting with total listings, there were 730 Carmel homes for sale, or 0.6 percent more, compared to the previous month’s total of 726. Moreover, versus last April’s total of 890 listings this is a healthy 18-percent decrease in total listings. Of these 730 listings, a total of 210 came in the form of new listings. This represents a 13.6-percent decrease versus the 243 homes that were placed on the market in March. By way of comparison, there was just a 4.4 percent increase in number of homes listed on the Indianapolis real estate market during this same period.
With respect to sales, a total of 121 closings took place in April, up 9 percent versus the previous month’s total of 111. But the really big news was the fact that this represents a much larger 18.6-percent increase versus April of 2011. Not only this, but the average of 98 closings per month from February through April of this year represents a 4.3-percent increase versus this same period 1 year ago.
The number of purchase transactions in the works also was on the rise by 3.4 percent, as there were 153 pending transactions on the books in April compared to 148 the previous month. Like our previous stat, this represents an even larger improvement in comparison to last April’s figure of just 133 pending sales—a 15-percent improvement to be exact. Looking at the period of February through April of this year there were, on average, a total of 134 pending sales per month, or 14.5 percent more, versus this same period last year.
Some other interesting Carmel real estate market statistics:
- Homes in Carmel Indiana spent an average of just 75 days on the market in April, which makes for a very relieving 29.2-percent improvement if you’re a seller. Compared to April of 2011’s average of 93 days this is a 19.4-percent improvement. This is also 21 percent improved versus the 12-month Carmel average of 95 days.
- Homes sold for an average of 87 percent of their original asking price, and an average of 95 percent of final list price. Both of these stats are off a bit from last April, when the averages were 93 and 96 percent respectively. The 12-month averages are 87 and 93 percent respectively.
- The average ‘sold’ price in Carmel of $313,000 was up 4.7 percent versus the previous month, and up nearly 1 percent versus last April. The 12-month average ‘sold’ price is $321,000.
- The average active price was $486,000. This is up only slightly versus the previous month, albeit up nearly 15 percent versus last April’s average of $423,000. The 12-month average active price in Carmel is $455,000.
- The absorption rate based on closed sales was 16.6 percent, while the absorption rate based on pending sales was 21 percent.
- There were 6 months of inventory based on closed sales and 4.8 months of inventory based on pending sales.
- The average price per square foot was $89.
View other Carmel Real Estate Market Reports.