Carmel Indiana Housing Market Report June 2013 – New listings are on the rise in the Carmel housing market, which comes as welcome news for buyers. Continuing increases in inventory mean buyers have more homes to select from and less competition for those homes. This wasn’t the case earlier in the year when buyers faced fierce competition for Carmel homes as the result of an ongoing shortage of inventory.
The June 2013 Carmel Housing Market Report shows that sellers are also benefitting from the current market by way of rising sales prices and declining days on the market as compared to June 2012. Whether or not this trend can withstand spiking interest rates is yet to be determined. Experts predict that while some buyers may push hard to find a home before interest rates rise further, others may decide to wait to see if interest rates fall again before writing a contract. Based on recent activity in Carmel and surrounding areas, it seems likely that, for the next few months anyway, most buyers will opt for finding a home while they can still lock down a historically very, very low rate.
Anyone who is considering selling a Carmel home would be wise to do so while inventory and interest rates remain relatively low. Potential sellers should start by finding out what their home is worth with a free home value estimate.
Carmel real estate market highs and lows
The most expensive home sold in Carmel in June 2013 was an 11,681 square foot mansion in the Village of West Clay that closed at $1,475,000 (10.4 percent off of list price) after just 48 days on the market. This home featured 5 bedrooms, 8 bathrooms, and an elevator to get from floor to floor. The least expensive home sold in Carmel in June 2013 was a 1,487 foot 2 bedroom, 2 bath condo in Hunters Glen that closed at $83,000 (2.4 percent under list price) after 92 days on the market.
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