Mitch's Weekly Market Report

Carmel, IN 46032

Condos/Townhomes

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Carmel, IN 46032

Sat May 31 2025
This week the median list price for Carmel, IN 46032 is $483,750 with the market action index hovering around 37. This is an increase over last month's market action index of 36. Inventory has held steady at or around 42. Click here to stay informed with the Carmel market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market Narrative

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’ll be looking for a persistent downward trend. If we see a persistent trend, especially if the MAI falls from the Seller’s Market zone to the Buyer’s Market zone, expect downward pressure on prices. There is already some evidence prices moving lower.

Carmel, IN 46032

Sat May 31 2025
This week the median list price for Carmel, IN 46032 is $483,750 with the market action index hovering around 37. This is an increase over last month's market action index of 36. Inventory has held steady at or around 42. Click here to stay informed with the Carmel market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market Narrative

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’ll be looking for a persistent downward trend. If we see a persistent trend, especially if the MAI falls from the Seller’s Market zone to the Buyer’s Market zone, expect downward pressure on prices. There is already some evidence prices moving lower.

Real-Time Market Profile

Never miss important changes in the Carmel market.
Median List Price $483,750
Median Price of New Listings $329,900
Per Square Foot $246
Average Days on Market 119
Median Days on Market 49
Price Decreased 36%
Price Increased 2%
Relisted 0%
Inventory 42
Median Rent
Market Action 37
Slight Seller's Advantage

Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$860,000 2,501 - 2 2.5 1 0 2 273
$649,250 2,049 0 - 4,500 sqft 3 2.5 5 2 3 31
$424,900 1,844 0 - 4,500 sqft 3 2.5 14 2 0 42
$240,000 1,142 0 - 4,500 sqft 2 2 27 3 0 24