I love the town of Carmel, Indiana. Everything from its downtown area, with its nostalgic, life-size statues to its many golf courses. Lately, I've had several people asking whether or not now is a good time to buy Carmel real estate. I would say that any time is a good time to buy a home in Carmel simply because it is such a great place to live. But if you looking for reasons based on something a bit more empirical then consider the latest real estate data, starting with the statistical category of inventory.
In January, 2010, the total months of inventory based on closed sales reached a 15-month high of 13.3 months. Following this, total inventory based on closed sales dropped month-by-month until reaching a 15-month low of just 5.7 months in June, 2010. July, 2010 marked the beginning of a reversal. Climbing inventories mean a better selection for buyers, and quite often, better prices as well.
Speaking of prices, the average active price has also been trending down over the past 15 months. Since peaking at $562,000 in November of 2009 it has hovered in the mid-to-high 400's ever since; most recently, averaging $460,000. This was down nearly 1.1 percent from the previous month's average of $465,000. In July, homes went for an average of $350,000.
No comments:
Post a Comment