Carmel Indiana Real Estate | Year End Report 2008

I have put together some fancy new graph that will us analyze the Carmel Indiana real estate market for the year end 2008. Hamilton County real estate is always is top pick for many people, both locals and relocations from other parts of the country and Carmel is arguably the most desirable area in the county and the central Indiana area. That being said, let’s take a look at the number of homes sold and the average sales price for Carmel real estate for 2007 vs. 2008:

Number of homes sold in Carmel:

Average sales price for Carmel real estate:

As you can see, the number of homes sold is pretty constantly down over 2007 but the average sales price jumps around showing a few gains along with the losses. The year ended up with 20% fewer homes selling and a decrease of 4% in the average selling price over 2007.

In addition to the sold data, these stats are also relevant to look at:
- There are currently 718 homes on the market right now.
- The current average asking price is $553,087.
- The average home has been on the market for 123 days.
- The average asking price per square foot is $157.
- There are currently 85 homes pending.
- The average pending home is listed for $112 / sq. ft. and has been on the market for 100 days.

Overall, despite the doom and gloom we hear on a daily basis, the Carmel Indiana real estate market is doing quite well. Yes, there are fewer homes selling but this has only affected the average selling price by a minimal amount. Carmel still remains a great place to purchase a home.

Michael Taylor is the broker/owner of Red Door Real Estate. You can see our Indianapolis real estate site for more information about the services we provide for buyers and sellers. Carmel is a popular suburb just north of Indianapolis offering great schools and a family friendly environment. A few of Carmel’s larger and more popular neighborhoods include: West Clay, The Bridgewater Club, and Plum Creek.