July 2008 e-Newsletter
June 2008 YTD New Albany Market Update
New Albany Home sales in June increased over May by 45% (31 homes in June vs 21 homes in May). “Low interest rates, high inventory and competitive pricing continue to fuel the housing market here in central Ohio,” says Greg Hrabcak, President of the Columbus Board of REALTORS®. “As long as we have these three critical factors in place, home buyers and investors are actively pursuing a home purchase.”
There remains a large selection of homes for sale in New Albany. Despite an increase in unit sales, inventory levels rose slightly in June. When inventory is high as we see now, homes will take longer to sell and will sell for less than they would in a market where inventory is low. In general, a 8 – 9 month supply of homes represents a balanced market. Currently, New Albany has a 13 month supply of homes based on six month sales and a 10 month supply based on June sales. If the unit sales trend continues, we will start to see a balanced market before the end of the 3rd quarter. We’ll keep you posted! Let us know if you would like specific information on your neighborhood or your home in particular.
Neighborhood |
Active Listings |
In Contract |
Sold Jun 08 |
Sold YTD Jun 08 |
Sold YTD Jun 07 |
Average $/Sq.Ft |
Average DOM |
The Preserve |
27 |
3 |
4 |
13 |
18 |
$
111 |
132 |
Albany Park |
6 |
0 |
1 |
7 |
7 |
$
109 |
161 |
Windsor |
8 |
8 |
1 |
3 |
5 |
$
116 |
120 |
Hampsted Village |
47 |
5 |
8 |
26 |
17 |
$
122 |
143 |
New Albany Links |
37 |
6 |
4 |
13 |
14 |
$
118 |
154 |
Tidewater/Enclave |
8 |
2 |
0 |
2 |
3 |
$
-
|
193 |
NACC < $1 million |
65 |
10 |
7 |
31 |
26 |
$
155 |
182 |
NACC > $1 million |
42 |
2 |
2 |
10 |
9 |
$
214 |
296 |
Total Plain Local School District |
304 |
46 |
31 |
13 |
135 |
$
130 |
155 |