The Carmel Indiana housing market report for February 2012 is a little disappointing, considering January 2012 started off so promising. When comparing February 2012 Closed Sales statistics to those for February 2011, every category lost ground - without exception. Closed Sales (-14.5%), Median Sales Price (-10.3%) and Average Days on Market (+19.8%) were the biggest losers, while Percentage of Original List Price Received at Sale dropped only slightly (-1.55%).
In a month-over-month comparison of December 2011 through February 2012 to the same time period for the previous year, the results were still disappointing, with Average Days on the Market (+30.2%) taking the biggest hit. Closed Sales (-0.4%) and Percentage of Original List Price Received at Sale (-0.8%) remained virtually unchanged for the three-month comparison.
National and local experts continue to predict that the Central Indiana real estate market will begin turn to around in 2012, with interest rates remaining low and home prices beginning to stabilize. Hamilton County real estate as a whole reflected that prediction for the month of February 2012, with gains in most categories compared to a year ago, including New Listings (+27.5%), Closed Sales (+13.5%), and Median Sales Price (+3.3%). Supply of Inventory dropped to 7 months in February 2012, which is approaching a neutral market that favors neither buyer nor seller.
Check back next month, where hopefully the Carmel housing market report will look a little more like a market that's on the upswing!