Is Carmel, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Carmel is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Carmel has remained a Seller's Market.

Key Takeaway

Carmel is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Carmel, NY

How much do homes in Carmel, NY cost?

Median Sold Price

$485,000

$279/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$55,033(+12.8%)

Key Takeaway

Homes in Carmel have sold for 12.8% more than they did a year ago.

Summary: The median home sold price in Carmel was $485,000 in October 2024, up 12.8% from last year, and the median price per square foot was $279.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $290K$300K
+3.4%
2 $362.5K$417.5K
+15.2%
3 $460K$527K
+14.6%
4 $615K$665K
+8.1%
5+ $650K$755K
+16.2%

Summary: Carmel housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 14.6%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 16.2%.

Median Sold Price Compared To Nearby Cities

Putnam Valley
+20.2%
Carmel
+12.8%
Mahopac
+12.7%

Housing Supply in Carmel, NY

How many homes are available in Carmel, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
220225+2.3%

Summary: The Carmel real estate market had 225 homes for sale in October 2024, a 2.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1213
+8.3%
2 4741
-12.8%
3 98104
+6.1%
4 5457
+5.6%
5+ 910
+11.1%

Summary: The Carmel housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes decreased by 12.8%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4051+27.5%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

24 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Carmel, you could pay more than the asking price. 47.1% of homes here sold above asking price last month.

Summary: A total of 51 homes were sold or pending in Carmel in October 2024, up by 27.5% month-over-month. Of the 51 sold homes, 35% were sold under asking, 18% were sold at asking, and 47% were sold over asking.

Days on Market for Carmel, NY

How long does it take to sell a home in Carmel, NY?

Average Sale Time

Oct 2023Oct 2024CHANGE
37 Days34 Days-8.2%

Summary: Homes in Carmel had an average of 34 days on market in Oct 2024, down by 8.2% compared to last year.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

20 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Carmel are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 51 homes were sold in Carmel; 55% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 8 Days Ago

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