With average home prices reaching $168,669 in May 2014, home sales prices are up 7 percent compared to May 2013.
Seven of the nine counties that F.C. Tucker tracks experienced slightly higher home sales prices in the first five months of 2014 compared to the same time period last year.
In Hamilton County, prices were up 8.7 percent reaching $259,578.
- The average sale price continues to climb in Carmel. For the first five months of this year, homes sold for $329,900 on average – an increase of 6.9 percent compared to 2013.
- Of the home sales in Carmel last month, two were priced $1 million to $2 million; 31 were priced $500,000 to $1 million; 65 were priced $300,000 to $499,999; 54 were priced $200,000 to $299,999; 33 were priced $100,000 to $199,999; and seven were priced at $99,999 or less.
- Home sales in Carmel are down slightly. In May 2014, 192 homes sold, a decrease of four homes compared to May 2013.
- Inventory has remained relatively stable in Carmel. In May 2014, 560 homes were on the market. Similarly in May 2013, 565 homes were available for sale.
- Homes in Carmel are selling at a faster pace. For the first five months of this year, homes stayed on the market an average of 78 days, which is eight fewer days than the same time period last year.
Though sales have been slow to grow this year, we’re still optimistic.
Affordability and low interest rates have been favorable for buyers looking to make smart purchases, so we hope to see more positive momentum in the coming months.
