Is Carmel, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Carmel is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Carmel has remained a Seller's Market.

Key Takeaway

Carmel is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Carmel, IN

How much do homes in Carmel, IN cost?

Median Sold Price

$521,792

$184/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$32,556(+6.7%)

Key Takeaway

Homes in Carmel have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in Carmel was $521,792 in November 2024, up 6.7% from last year, and the median price per square foot was $184.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $199.9K$179K
-10.5%
2 $318.7K$335.6K
+5.3%
3 $403.9K$418.2K
+3.6%
4 $515.3K$550K
+6.7%
5+ $824.9K$875.2K
+6.1%

Summary: Carmel housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.5%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 6.1%.

Median Sold Price Compared To Nearby Cities

Clay Township
+8.9%
Carmel
+6.7%
Delaware Township
+4.2%
Fishers
+3.4%
Westfield
-1.0%

Housing Supply in Carmel, IN

How many homes are available in Carmel, IN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
403361-10.4%

Summary: The Carmel real estate market had 361 homes for sale in November 2024, a 10.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 33
0.0%
2 5251
-1.9%
3 140121
-13.6%
4 126109
-13.5%
5+ 8277
-6.1%

Summary: The Carmel housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 1.9%, 3 bedroom homes decreased by 13.6%, 4 bedroom homes decreased by 13.5%, and 5+ bedroom homes decreased by 6.1%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
121114-5.8%

Asking Price vs. Sold Price

71 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

27 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Carmel, you may be able to get a good deal. 62.3% of homes here sold below asking price last month.

Summary: A total of 114 homes were sold or pending in Carmel in November 2024, down by 5.8% month-over-month. Of the 114 sold homes, 62% were sold under asking, 14% were sold at asking, and 24% 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

Nov 2023Nov 2024CHANGE
21 Days31 Days+42.9%

Summary: Homes in Carmel had an average of 31 days on market in Nov 2024, up by 42.9% compared to last year.

Breakdown of Home Sale Times

76 Homes Were Sold
Under 30 Days

27 Homes Were Sold
In 30 - 90 Days

11 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Carmel are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 114 homes were sold in Carmel; 67% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

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