Across central Indiana, low inventory remains a large factor in the real estate market. Compared to last year at this time, active listings have declined almost 19 percent. Fortunately, this has not deterred buyers too much, as pended home sales rose 4.8 percent and average home prices have grown 2 percent year-to-date.
In June, Hamilton County’s active listings were down 10.5 percent, while pended sales have grown 2.2 percent year-to date-and 2.9 percent month-to-date. The average sales price also rose 2.1 percent compared to last year, now at $281,521.
- In Carmel, the average year-to-date home sales price increased 1.1 percent to $354,597.
- Inventory moved at a faster pace in Carmel in June 2016. Overall, homes sold in 59 days – eight fewer days than this time last year.
- Buyers in Carmel had fewer options available to them. Last month, 556 homes were available for sale – 58 fewer homes compared to June 2015.
- Pended home sales have grown in Carmel. In June 2016, 152 homes sold – an increase of nine homes compared to June 2015.
- Of the pended home sales in Carmel last month, one was priced $1,000,000 to $1,999,999; 21 were priced $500,000 to $999,999; 50 were priced $300,000 to $499,999; 60 were priced $200,000 to $299,999; 17 were priced $100,000 to $199,999; and three were priced below $99,999.
During this time of low inventory, demand for available homes has picked up. June has been an incredibly busy time for buyers eager to move and sellers taking advantage of rising prices.