January 2009 e-Newsletter

New Albany Ohio 2008 Real Estate Market Update

 
A few interesting statistics can be found in the year end recap below. Most notably, 2008 total unit sales for Plain Local schools were slightly ahead of 2007. Some neighborhoods fared better than others. Average sales prices fell between 5% and 10% depending on the neighborhoods. The historic low interest rates along with the affordability of the current inventory has caught the interest of many buyers and allowed unit sales to keep pace with the previous year. It has actually resulted in a significant reduction in inventory for the start of 2009. Inventory levels are down 12% over the same time last year.
 
It’s hard to imagine but this could result in a shortage of homes for sale in New Albany – the Hampsted communities has a 3 month supply of homes based on 2008 rate of sale. I share this because Sellers who want or need to sell their home should absolutely consider putting their homes on the market – particularly in neighborhoods or price ranges where there is clearly a shortage of homes for sale. Opportunities abound whether you want to sell a home or buy a home so call Tony or me today!
 
A list of homes that sold in 2008 by neighborhood is available on our website: New Albany Country Club and the Reserve, Hampsted Communities, New Albany Links with Upper Clarenton and Dominion Club, and The Preserve with Albany Park. Click on any of these links to be taken directly to the list. If your neighborhood is not included here, please contact us and we will forward it to you.
 
December 2008 YTD Market Update
 
           
               
               
 
Neighborhood
Active
Listings
In
Contract
Sold Dec 08 Sold 2008   Sold 2007 Average
$/Sq.Ft
 Ave.
DOM  
The Preserve 14 4 4 26 40  $     109 117
Albany Park 8 0 0 7 12  $     113 146
Windsor 10 4 0 10 9  $     115 90
Hampsted Village 15 4 6 54 30  $     119 133
New Albany Links 30 6 4 35 27  $     120 134
Tidewater/Enclave * 9 0 0 5 5  $     145 238
NACC < $1 million 56 5 4 56 64  $     158 197
NACC > $1 million 29 3 1 19 24  $     222 205
Total Plain Local
School District
216 34 22 280 272  $     142 145
               
*Includes Tidewater, Saunton, Enclave, & Wentworth
 
This representation is based on datasupplied by the Columbus Board of REALTORs or MLS YTDNovember 2008. Data may not reflect all activity in the real estate market.
 
 

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