Higher end housing market in Carmel? Is it healthy, or is there too much supply and not enough buyers? (real estate market)

[hardport1996]

Hi all! Are there any reading this post with some inside knowledge of local real estate, plus an unbiased view of what is going on in the higher end real estate market in Carmel (700-900+) I have heard that there are just not enough buyers in this price point, also since home builders are still building brand new builds, sellers of the older high end homes may be hurt when they sell. Should we be worried that prices in this range will slowly continue to fall because of a long term lack of buyers in this price point, and a growing supply of new higher end production homes? Are there any Carmel higher end neighborhoods that are hurting more than others, and ones that are healthier than others?

[anth1993]

Not being a troll,but you are like 20 why are you so interested in buying high end real estate.Is it for your family,because I dont think most 20 year old can afford homes haha.Maybe ur trying to be in real estate?haha.

[ndindy]

Going to answer this for those interested....

Just had dinner with a realtor friend from Indy this past weekend. He said the high end was starting to tick up in Carmel (750k+) but it's still much softer than the rest of the market.

The high end market in Carmel has a limited buyer pool, and houses are elaborate at that point, so people can look at a lot of different options. If someone is in the market for a home like this, I would suggest working with a realtor very familiar with the market, and staying with a custom built home in a community with a track record of good resale. I am not sure how much staying power the $800k pulte product has, when pulte can build neighborhoods full of them, and you have to compete with professionals selling their homes for relocation.

[MemoryMaker]

Originally Posted by anth1993

Not being a troll,but you are like 20 why are you so interested in buying high end real estate.Is it for your family,because I dont think most 20 year old can afford homes haha.Maybe ur trying to be in real estate?haha.

It's refreshing to see a young kid/young person concerned with real estate. Even if he/she's just inquiring about his parent's home, the value of his parent's home will have a major direct effect on him one day so it's extremely relevant for him to know the factors that could affect it's value.

Even if this isn't the case then this is great stuff to know if he plans on buying a house one day.