December 2008 e-Newsletter

November 2008 YTD Market Update

You can’t read the paper or watch the news without knowing that the economic picture is uncertain and likely to continue that way as we wrap up 2008 and head into 2009. However, a turnaround for the housing market is anticipated as homes become more affordable (home prices in New Albany have fallen anywhere from 7% - 10% this year), and interest rates come down (today’s rate is 5.5% for a 30 year fixed loan). Unit sales in New Albany for October and November are off 33% over 2007. One bright spot is the number of homes in contract. Once these homes close, the unit sales comparison should be a little more in line with last year.

We continuously monitor any shifts in the market in order to lead the market and accomplish the goals of our sellers and buyers. Please contact us with any questions you may have about recent shifts in the New Albany real estate market and how it might impact you and your home.  November 2008 YTD:


Neighborhood

Active
Listings

In
Contract

Sold
Nov 08

Sold YTD
Nov 08

Sold YTD Nov 08

Average
$/Sq.Ft

 Ave.
DOM

The Preserve

22

6

0

25

44

 $    110

140

Albany Park

10

0

0

7

12

 $    107

150

Windsor

10

5

0

9

9

 $    113

97

Hampsted Village

19

8

4

48

25

 $    117

172

New Albany Links

32

5

2

30

25

 $    120

180

*Tidewater/Enclave

10

0

0

5

4

 $    136

238

NACC < $1 million

58

6

0

49

60

 $    156

170

NACC > $1 million

30

4

1

18

22

 $    222

226

Total Plain Local
School District

243

42

8

250

253

 $    133

145

* Includes Tidewater, Saunton, Enclave, & Wentworth
 
This representation is based on data supplied by the Columbus Board of REALTORs or MLS YTD November 2008.  Data may not reflect all activity in the real estate market.

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