Crossroads Collective Homes Realtors® Greg Cooper and Lisa Phillips will give us a little snapshot as to what’s going on in housing and real estate in Carmel for the fourth quarter of 2023. And then they are going to do something a little different. They are going to give us a good thing they’ve seen in housing, a bad thing, and a surprising thing.

So let’s start with home sellers. Lisa said, “Sellers in Q4 got to have your act together. You have to be priced and staged if you’re serious about selling. And if not, you’re going to end up in one of those cascading price reductions like we’ve seen so many people right now in the last few weeks and months, frankly, in Carmel.”

She also shared her thoughts about what buyers should be doing and it goes like this, “Buyers, this is the time for you to get back out and start looking. There is less competition, which means more opportunity. You might not have to do an appraisal contingency, you might not have to do an inspection. You might not have to waive inspection. So this is the time to come back out and start walking.”

So let’s talk about the good, the bad, and the surprising things. “The good, first of all, 44 new homes have come on the market in the last seven days. That’s an enormous number of homes as we head into quarter four coming on the market in one week’s time.”, says Greg.

What about the bad? “The bad is we’re going to talk about affordability in Carmel. So the average sales price for the pending homes out of that group was $447,000. So that’s kind of a little bit on the high side for most people. 21 homes in the last week of have gone under contract, and the average list price was $647,000. Now, there was one at $214,000. There were a couple that were lower, but the average $647,000. That does not speak great to affordability.”

So here’s the surprising thing! “Of the 44 homes that went on the market in the last week, 19 of them had price reductions the first seven days.” That’s impressive. t’s kind of shocking, actually. As aggressive as the market has been through the majority of this year. What it means is, home sellers are starting too high, but they are recognizing that, and they’re making the move they need to make to be able to get their homes competitive. These people are motivated to sell. Buyers, they’re whispering to you. This is why we say, “This is why you need to get out! This is your time. Everybody get out. There it is.”

If you are planning to sell or buy a home, go to our website and register. That way, we can keep in contact with you and discuss the market stuff. You can set up all kinds of searches, like a map search for one particular spot in Carmel. We’re not going to spam you. 💯 We’re not spammy people because we’re not that organized to be spammy. 😄 If you just want to know what’s going on in your neighborhood and you’re not even going to sell anytime soon, this is an easy way to do that. We’ve also got information in there about our concierge program, which means you can use the equity in your home in 2024 to help sell your home. We’re going to have a home selling seminar in the next couple of months and we’ll be posting information about that soon. So make sure to check in regularly or follow our Facebook page to be updated.

If you need to contact them directly, you may reach Lisa at (317) 219-9277 and Greg at (317) 441-7166.  So, what are you waiting for?