Is Carmel, IN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Carmel has remained a Seller's Market.
Housing Prices in Carmel, IN
How much do homes in Carmel, IN cost?
Median Sold Price
$525,369
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Carmel was $525,369 in May 2024, up 8.1% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $173K | $175K | +1.2% |
2 Bedrooms | $299.9K | $331.9K | +10.7% |
3 Bedrooms | $399.9K | $417.8K | +4.5% |
4 Bedrooms | $506.3K | $549.9K | +8.6% |
5+ Bedrooms | $779K | $851.3K | +9.3% |
Summary: Carmel housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.2%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 9.3%.
Median Sold Price Compared To Nearby Cities
Clay Township | $474.9K | $527.8K | +11.1% |
Carmel | $486.1K | $525.3K | +8.1% |
Delaware Township | $325.5K | $340K | +4.5% |
Fishers | $385.5K | $394.4K | +2.3% |
Westfield | $434.4K | $440K | +1.3% |
Housing Supply in Carmel, IN
How many homes are available in Carmel, IN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
390 | 395 | +1.3% |
Summary: The Carmel real estate market had 395 homes for sale in May 2024, a 1.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 39 | 45 | +15.4% |
3 Bedrooms | 148 | 133 | -10.1% |
4 Bedrooms | 127 | 135 | +6.3% |
5+ Bedrooms | 73 | 78 | +6.8% |
Summary: The Carmel housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 15.4%, 3 bedroom homes decreased by 10.1%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 6.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
129 | 128 | -0.8% |
Asking Price vs. Sold Price
50 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
53 Homes Were Sold
Over Asking
Summary: A total of 128 homes were sold or pending in Carmel in May 2024, down by 0.8% month-over-month. Of the 128 sold homes, 39% were sold under asking, 20% were sold at asking, and 41% were sold over asking.
Days on Market for Carmel, IN
How long does it take to sell a home in Carmel, IN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 22 Days | +54.4% |
Summary: Homes in Carmel had an average of 22 days on market in May 2024, up by 54.4% compared to last year.
Breakdown of Home Sale Times
109 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During May 2024, 128 homes were sold in Carmel; 85% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.