Is Carmel, IN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$521,666
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Carmel have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Carmel was $521,666 in April 2024, up 6.5% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $167.9K | $180K | +7.2% |
| 2 Bedrooms | $295K | $337K | +14.2% |
| 3 Bedrooms | $400K | $414.8K | +3.7% |
| 4 Bedrooms | $507K | $549.6K | +8.4% |
| 5+ Bedrooms | $781.5K | $840K | +7.5% |
Summary: Carmel housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.2%, 2 bedroom homes increased by 14.2%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes increased by 7.5%.
Median Sold Price Compared To Nearby Cities
| Clay Township | $476.9K | $522.5K | +9.6% |
| Carmel | $489.9K | $521.6K | +6.5% |
| Delaware Township | $325K | $338.8K | +4.3% |
| Westfield | $432.5K | $445.3K | +2.9% |
| Fishers | $385K | $393K | +2.1% |
Housing Supply in Carmel, IN
How many homes are available in Carmel, IN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 334 | 368 | +10.2% |
Summary: The Carmel real estate market had 368 homes for sale in April 2024, a 10.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 35 | 38 | +8.6% |
| 3 Bedrooms | 124 | 134 | +8.1% |
| 4 Bedrooms | 109 | 126 | +15.6% |
| 5+ Bedrooms | 64 | 67 | +4.7% |
Summary: The Carmel housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes increased by 4.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 99 | 123 | +24.2% |
Asking Price vs. Sold Price
51 Homes Were Sold
Under Asking
32 Homes Were Sold
At Asking
40 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Carmel, you may be able to get a good deal. 41.5% of homes here sold below asking price last month.
Summary: A total of 123 homes were sold or pending in Carmel in April 2024, up by 24.2% month-over-month. Of the 123 sold homes, 41% were sold under asking, 26% were sold at asking, and 33% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 23 Days | -43 Days | -288.4% |
Summary: Homes in Carmel had an average of -43 days on market in Apr 2024, down by 288.4% compared to last year.
Breakdown of Home Sale Times
93 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Carmel are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 123 homes were sold in Carmel; 76% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Listings courtesy of Metropolitan Indianapolis Board of REALTORS® MLS as distributed by MLS GRID.
The data on this website relating to real estate for sale comes in part from the Internet Data Exchange (IDX) program of the Indiana Regional MLS (IRMLS). IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. ©2011-2024 Indiana Regional MLS. All rights reserved.