April 2009 e-Newsletter

New Albany Ohio 2009 1st Quarter Market Update

Home Sales in New Albany are off last year by over 50%. Not great news for Sellers but certainly good news for Buyers. Based on the number of in contracts and the increase in showing activity we’ve seen in the past 3 weeks, there’s reason to think we are going to see the unit sales numbers improve in the next quarter.

Tony and I still feel strongly that affordability in New Albany and throughout Columbus makes it a really good time to purchase a home. The low interest rates contributes to affordability as well. A $400,000 30 year fixed mortgage at this year’s current 4.875% equals a principal and interest (P & I) payment of $2117/month. This time last year that same mortgage at 6.25% would have a P& I of $2463/month. That’s almost a 15% savings on a house payment! I’ve included a link to the mortgage calculator at our website if you want to run your own numbers.

If you are thinking of buying or selling, this year, give Tony or me a call. We’ll help you make the best decision using our knowledge of the Columbus market.

New Albany Market Update – 1st Quarter through 3/31/09

Neighborhood

Active

Listings

In

Contract

Sold Mar 09

Sold 2009 YTD

Sold 2008 YTD

Average

$/Sq.Ft

Ave.

DOM

The Preserve

18

3

0

4

4

$101

80

Albany Park

8

1

1

1

3

$ 87

230

Windsor

11

1

0

1

0

$123

209

Hampsted Village

28

2

3

4

9

$113

177

New Albany Links

34

8

0

2

7

$110

210

New – Central College *

15

0

0

0

1

---

---

NACC < $1 million

58

12

4

9

14

$165

153

NACC > $1 million

40

2

1

2

5

$191

344

Total Plain Local

School District

260

38

13

29

61

$129

160

*Includes Tidewater, Saunton, Enclave, & Wentworth

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New Albany Neighborhoods

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