Winter 2012 eNewsletter
New Albany Real Estate Stats-2011 Year End Results
New Albany Real Estate – True Signs of a Real Recovery!
The numbers below make it official – unit sales in New Albany are up 25% over last year. The last time that over 300 homes sold in New Albany in one year was 2005. At this point, I don’t believe that this trend in sales can continue unless the number of homes for sale increases. However, I think the slowdown is a product of the inventory available. The rate of sale is simply not sustainable with the number of homes currently for sale in New Albany. While sales were up 25% in 2011, we began 2012 with inventory down about 38% from the same time last year.
I don’t want to sound like a broken record; however, if you have any interest in selling your home, this is a great time to do it! Today’s buyers have seen the homes currently for sale and are waiting for something new (or a new price on existing homes) to entice them into the market. Don’t let the lowest interest rates in recorded history pass you by. If you’ve been thinking about selling but have been holding back, it looks like now is the time to get into the market! Call Kate or Tony Thomas today!
New Albany 2011 Year End Recap
|Neighborhood||Active Listings||In Contract||Sold 4th Qtr 2011||Sold 2011||Sold 2010||Ave $/Sq Ft||Ave DOM|
|NACC < $1M**||22||12||13||89||74||$153||119|
|NACC > $1M||12||3||4||18||16||$199||161|
|Tot Plain Local|
|* Includes Tidewater, Saunton, Enclave and Wentworth|
|** Includes NACC and The Reserve|