Carmel, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Carmel Neighborhoods Since 2000




Carmel, NY Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Carmel Housing Market Information

With 20,144 people, 1,805 houses or apartments, and a median cost of homes of $351,344, real estate costs in Carmel are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New York communities.

Single-family detached homes are the single most common housing type in Carmel, accounting for 79.67% of the town's housing units. Other types of housing that are prevalent in Carmel include large apartment complexes or high rise apartments ( 7.38%), row houses and other attached homes ( 6.52%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.33%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Carmel. Owner-occupied housing accounts for 79.79% of Carmel's homes, and 54.08% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Carmel's housing was primarily built during this period, from the '40s through the '60s. A full 42.29% of the town's housing hails from this era. Other housing ages represented in Carmel include homes built between 1970-1999 ( 34.38%) and housing constructed before 1939 ( 15.81%). There's also some housing in Carmel built between 2000 and later ( 7.52%).

Vacant housing appears to be an issue in Carmel. Fully 13.02% of the housing stock is classified as vacant. Left unchecked, vacant Carmel homes and apartments can be a drag on the real estate market, holding Carmel real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Carmel Home Appreciation Rates

Homes have actually lost value in Carmel over the last then years, as home values have seen a decline of 27.42% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Carmel home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Over the last year, Carmel appreciation rates have trailed the rest of the nation. In the last twelve months, Carmel's appreciation rate has been 1.97%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Carmel were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New York, our data show that Carmel's latest annual appreciation rate is lower than 50% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$351,344

Carmel, NY HOME PRICES

Value Range
> $1,030,000 1.0
$773,001 - $1,030,000 2.7
$515,001 - $773,000 10.6
$412,001 - $515,000 7.3
$309,001 - $412,000 26.6
$206,001 - $309,000 40.5
$103,001 - $206,000 8.3
$51,001 - $103,000 1.1
$0 - $51,000 2.0

High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
12.1059416383452 28.5072951739618

Number Of Homes And Apartments:
1,805

Carmel Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
24.66% 1.29% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,815 / per month

Homeownership Rate

Homeownership
Owners 79.79
Renters 20.21
Vacant 13.02

Housing Market Details

 

Age of Homes

AGE OF Carmel HOMES
2000 or Newer 7.5
1970 - 1999 34.4
1940 - 1969 42.3
1939 or Older 15.8

Types of Homes

TYPE OF Carmel HOMES
Single-Family 79.7
Townhomes 6.5
Small Apt. Buildings 6.3
Apt. Complexes 7.4
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Carmel HOMES
No Bedroom 2.16
1 Bedroom 9.70
2 Bedrooms 30.58
3 Bedrooms 35.46
4 Bedrooms 18.62
5 or more bedrooms 3.48