Average Price of Carmel Homes Drops in August, 2010

As reported in an IndyStar blog post by IndyHomeGuy, the average price of Camel homes for sale dropped in August of 2010. According to the post, after peaking at $562,000 in November of 2009 the average active price began to slowly decline in the months that followed. In August it fell even more–1.7 percent to be exact–finishing at $452,000. Over the past 12 months, this figure has averaged $501,000.

Also mentioned in the blog post was the fact that Carmel homes sold for an average of 5 percent more as the average ‘sold’ price climbed to $366,000 in August compared to the previous month’s average of $348,000. In fact, since reaching a 15-month low of $272,000 in April of 2010 this figure has grown in each of the 4 consecutive months that followed. This data suggests increasing congruence between the wants of buyers versus sellers.

To what extent this trend will continue in the coming months remains to be seen. For now, at least, this is one statistical bright spot in an otherwise sketchy Carmel real estate market.