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Market Intelligence · IN / Hamilton County

Carmel, IN home prices and housing market

2 ZIP markets liveData updated September 2026Typical value$589K1-yr changeUp4.9%

The typical home value in Carmel, IN is $589K as of September 2026, up 4.9% from a year ago, based on the Zillow Home Value Index. In the typical Carmel ZIP code, the median list price is $572K and homes spend a median of 41 days on market as of September 2026 (Realtor.com).

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The coverage

Carmel, by the numbers.

Typical home valueZillow ZHVI, September 2026
$589K
1-yr changeMedian across Carmel ZIPs
+4.9%
ZIP markets live3 tracked in Carmel
2
County
Hamilton County

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12-month value trend

+4.9% over 12 months

Typical home value in Carmel over the last 12 months: $561K in Sep 2025 to $589K in Sep 2026 (+4.9%).

Sep 2025$561K

Sep 2026$589K

Median Zillow home value index across Carmel's ZIP codes.

Context

Carmel's housing market shows measured growth. As of September 2026, the typical home value in Carmel was $588,685, up 4.9% over the past year. The median list price stood at $571,763, with 204 homes for sale and 118 new listings entering the market. Homes took a median of 41 days to sell, and about 23.0% of listings carried a price cut. For sellers, this reflects a market with steady demand but enough inventory that pricing and condition matter more than urgency.

The numbers

What is the housing market like in Carmel, IN?

Typical home value

$589K

Up4.9%YoY

Median list price

$572K

Days on market

41

Homes for sale

204

Price cuts

23.0%

New listings

118

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026)

Figures reflect Carmel's ZIP codes with market data: values and listing medians take the median across ZIPs; inventory and new listings are summed.

Prices over time

Carmel, IN home prices over time

Typical home values in Carmel, IN are up 4.9% over the past year, from $561K in September 2025 to $589K in September 2026.

Typical home value in Carmel, IN, September of each year
MonthTypical value1-yr change
September 2026$588,685+4.9%
September 2025$561,209No prior year

Typical value is the median Zillow Home Value Index across Carmel ZIP codes, taken in September of each year so every row compares the same month.

Market balance

Is Carmel, IN a buyer's or seller's market?

Carmel, IN is roughly balanced between buyers and sellers.

These measures sit between the ranges that usually favor one side, so pricing and condition matter more than market direction.

Based on a median of 41 days on market and 23% of listings with a price cut in the typical Carmel ZIP code, and 118 new listings against 204 active listings across Carmel, as of September 2026 (Realtor.com).

The outlook

Carmel housing market forecast 2027

+2.0%

Weighted average of Zillow's ZIP forecasts, 12 months to September 2027

A weighted average of Zillow's ZIP forecasts, across 2 Carmel ZIP codes, points to typical home values rising 2.0% by September 2027.

Over the 12 months through September 2026, typical home values in Carmel rose 4.9%, per the Zillow Home Value Index.

Will home prices drop in Carmel?

The forecasts do not call for a drop: a weighted average of Zillow's ZIP forecasts for Carmel shows typical home values rising 2.0% by September 2027, after a 4.9% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

How this is calculated: each ZIP code's 12-month Zillow forecast is weighted by its typical home value (Zillow Home Value Index, September 2026). 2 Carmel ZIP codes have both figures.

Forecast: a weighted average of Zillow's ZIP forecasts (Zillow Home Value Forecast, published October 2026), calculated by Home Value Pros. A forecast, not a guarantee.

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Live markets

What ZIP codes are live in Carmel?

Typical value is the Zillow home value index (ZHVI) for each ZIP, as of September 2026. 1-yr change compares it to the same ZIP a year earlier. We track 3 Carmel ZIP codes in total; the remaining 1 publish as their data clears editorial QA.

Zillow ZHVI, September 2026

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Common questions

Questions about Carmel, IN home prices.

What is the typical home value in Carmel?

The typical home value in Carmel was $588,685 as of September 2026, up 4.9% over the past year.

How many homes are currently for sale in Carmel?

There were 204 homes for sale in Carmel as of September 2026, with 118 new listings added that month.

How long do homes typically stay on the market in Carmel?

Homes had a median of 41 days on market as of September 2026, with about 23.0% of listings receiving a price cut.

Are home prices going up or down in Carmel, IN?

Typical home values in Carmel, IN are up 4.9% over the past year, based on the Zillow Home Value Index as of September 2026.

Is Carmel, IN a buyer's or seller's market?

Carmel, IN is roughly balanced between buyers and sellers. These measures sit between the ranges that usually favor one side, so pricing and condition matter more than market direction. Based on a median of 41 days on market and 23% of listings with a price cut in the typical Carmel ZIP code, and 118 new listings against 204 active listings across Carmel, as of September 2026 (Realtor.com).

Nearby markets

More Indiana housing markets.

The market is moving

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