Carmel Real Estate Market Trends - June 2013
Check out the Carmel Real Estate market trends report for June, 2013 below. This site has every single Carmel Home and piece of real estate for sale on it. All you have to do is sign up to receive new Carmel Real Estate Listings via a daily email...for free. And as always, be sure to contact us if you have any questions about anything you see on our site.
Carmel Real Estate Property Sales
June property sales were 23, up from 19 in June of 2012 and -25.8% lower than the 31 sales last month. June 2013 sales were at a mid level compared to June of 2012 and 2011. June YTD sales of 133 are running 1.5% ahead of last year's year-to-date sales of 131.
Carmel Real Estate Median Price and Average Price
The median sales price in June was $975,000, down -15.2% from $1,150,000 in June of 2012 and down -22.0% from $1,250,000 last month. The average sales price in June was $1,222,957, down -1.8% from $1,245,342 in June of 2012 and down -6.6% from $1,308,968 last month. June 2013 ASP was at the lowest level compared to June of 2012 and 2011.
Carmel Real Estate Inventory Levels & Monthly Supply of Inventory (MSI)
The total inventory of properties available for sale as of June was 138, up 6.2% from 130 last month and down -17.9% from 168 in June of last year. June 2013 Inventory was at the lowest level compared to June of 2012 and 2011.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The June 2013 MSI of 6.0 months was at its lowest level compared with June of 2012 and 2011.
Carmel Real Estate Days on Market for Sold Properties
The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer's market, a downward trend a move towards more of a seller's market. The DOM for June was 92, up from 71 days last month and up from 84 days in June of last year. The June 2013 DOM was at a mid range compared with June of 2012 and 2011.
Carmel Real Estate Selling Price Per Square Foot
The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the 'mix' of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The June 2013 selling price per square foot of $775 was up 9.6% from $707 last month and up 10.4% from $702 in June of last year.
Carmel Real Estate Selling Price vs Listing Price
The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer's market exists, a ratio at or above 100% indicates more of a seller's market. The June 2013 selling price vs list price of 97.5% was up from 95.4% last month and up from 95.6% in June of last year.
Carmel Real Estate Inventory / New Listings / Sales
This last view of the market combines monthly inventory of properties for sale along with new listings and sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of new listings in June 2013 was 34, down -8.1% from 37 last month and equal to 34 in June of last year.