Today we’re looking at Carmel. Let’s get started!
There were 31 sales in June, July, and August of 2008 vs. 42 over the same period last year. In the last 30 days there have been 15 sales and 12 pendings. Inventory has deecreased from 174 this time last year to 151 today. There’s approximately 15 months of inventory currently on the market. It’s interesting to note the sales in 2007 vs. 2008. This had a lot to do with a very good August of 2007 with 20 sales, followed by a very slow September with 6. Pendings in the last 30 days are lower than expected, most likely due to the recent issues in the financial markets. Overall I sense a slight cooling in market activity, but I don’t think this is a long-term trend, more of a short-term hiccup due to the unprecedented financial moves by the federal government recently. It’ll be interesting to see how this all plays out.