As we enter a new year, the Carmel and Westfield real estate markets remain dynamic and continue to offer opportunities for buyers and sellers alike. Here’s your quick market update from December 2024:

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Carmel, IN Market Overview

• Median Sale Price: $525,000
  • A slight 2% increase from December 2023, reflecting steady growth in property values.
• Average Days on Market: 28 days
  • Homes are moving quickly due to strong buyer demand, down from 34 days last month.
• Inventory: 120 active listings
  • Inventory remains low, keeping competition high for well-priced homes in sought-after neighborhoods like Village of WestClay and Foster Estates.
• Buyer Tip: Be ready to act fast with pre-approval in hand. Homes in prime neighborhoods often receive multiple offers.
• Seller Tip: Pricing competitively and staging well can help attract motivated buyers in this active market.

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Westfield, IN Market Overview

• Median Sale Price: $450,000
  • Up 4% year-over-year, showing strong demand in this growing suburban area.
• Average Days on Market: 24 days
  • Down from 30 days in November, as buyers are eager to close before the end of the year.
• Inventory: 95 active listings
  • Low inventory continues to make Westfield a seller’s market, with neighborhoods like Harmony and Bridgewater leading the charge.
• Buyer Tip: Consider new construction options, as Westfield continues to expand with modern developments and amenities.
• Seller Tip: Highlight proximity to top-rated schools and outdoor spaces like Grand Park to appeal to family-oriented buyers.

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Market Trends to Watch in 2025

• Rising Home Values: Both Carmel and Westfield are expected to see moderate price increases in early 2025 due to continued demand and limited inventory.
• Buyer Focus on Suburbs: With their excellent schools and community amenities, both cities remain highly desirable for families and professionals.
• New Construction Boom: Westfield, in particular, is poised for growth as developers continue to build in popular neighborhoods.

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Ready to Navigate the Market?

Whether you’re looking to buy or sell in Carmel or Westfield, staying informed about local market trends is key. Contact me for personalized advice or a free home valuation to start planning your 2025 real estate journey.

*The market update data can be cited as sourced from reputable local real estate platforms such as the MIBOR Realtor® Association, as well as aggregated MLS data for Carmel, Westfield, and Indianapolis.