Carmel appreciation rates and housing market information

Carmel housing market information

With 37,802 people, 14,168 houses or apartments, and a median cost of homes of $291,584, Carmel real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Carmel, accounting for 76.54% of the city's housing units. Other types of housing that are prevalent in Carmel include large apartment complexes or high rise apartments (14.79%), duplexes, homes converted to apartments, or other small apartment buildings (4.86%), and a few row houses and other attached homes (3.70%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Carmel. Owner-occupied housing accounts for 76.24% of Carmel's homes, and 65.33% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Carmel built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Carmel built from 1995 and later (21.77%). A lesser amount of the housing stock also hails from 1940-1969 (13.58%), and some were built from 1939 and earlier (13.58%).

Carmel home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Carmel, where house values have increased just 29.21%, which is an average annual increase of 2.92%. NeighborhoodScout's data show that in the latest quarter, Carmel house values appreciated 1.44%, which is an annualized rate of 5.76%. This rate is lower than the appreciation rate found in 20% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Carmel home appreciation rates, at -0.17%, have been at or slightly above the national average. In the latest quarter, Carmel's appreciation rate has been 1.44%, which annualizes to a rate of 5.76%.

Relative to Indiana, our data show that Carmel's latest annual appreciation rate is higher than 9% of the other cities and towns in Indiana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Carmel differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Carmel - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Carmel real estate investment or home purchase decisions.