Carmel Indiana foreclosures
There is so much talk about foreclosures and the housing market these days; I thought it would be enlightening to take a look at the state of the market in regards to Carmel foreclosures. Let me show you a few facts first:
- There are currently 832 homes for sale in Carmel Indiana.
- Of those 832 homes, only 17 are bank owned
- If you add “possible short sales” and “pre-foreclosures” to the list, the number climbs to 55.
- If you only consider homes above $200,000 (well below the average for Carmel), there are 26 “distressed” properties.
- Indianapolis has 9131 homes on the market.
- Of those, 1401 are “distressed”.
As you can see, Carmel fares FAR better than the Indianapolis market when it comes to foreclosures with only 2% of the homes currently for sale being bank owned. Even if you add the short sales and pre-foreclosures to the list, Carmel only has 6.6% of the homes for sale in any sort of “distressed” state. If you look at homes above $200,000 which is well below the average home in Carmel, all distressed homes represent only 3% of the market.
My point is that with all the doom and gloom about foreclosures in the news it is very important to realize that real estate is local. Only 2% of the homes for sale being bank owned is quite a contrast from the national average of 17%.
Carmel is and will continue to be a stable market and a great place to invest in a home. If bank owned homes do come available, they quickly get bought because Carmel is such a desirable place to live in the central Indiana area. If you do want to see what is available, visit our Carmel Indiana Foreclosures page or if you can’t find anything in that 2% of the available inventory visit our Carmel real estate page to see all homes for sale.