2010 YTD Market Update

The real estate market in New Albany is off to a pretty strong start! Unit sales for January and February, while small, are almost double what they were during the same time last year. The extension of the home buyer tax credit through April has something to do with it. I guess it’s possible that we are just trading dollars from 2nd/3rd quarter into the 1st quarter. But ever the real estate optimist, I like to hope that the market is simply and finally improving.
The number of homes for sale in New Albany is down 13% from same time last year as you can see if you review the market stats from last year on our website. The only area that we track where the market remains very “buyer friendly” is the $1million + market in New Albany. The other neighborhoods are beginning to become much more balanced; as this happens, the opportunity for prices to stabilize and actually begin to move back up becomes very real.
Whether you might be a buyer, a seller or both, it’s not too late to take advantage of the home buyer tax credit. You have until the end of April to be in contract and need to close on a home by the end of June. There are a lot of people looking so if you would like to explore putting your home on the market, don’t delay! We want to talk to you now so contact Kate or Tony today! We look forward to hearing from you!

New Albany 2010 YTD Recap

Neighborhood		Active Listings	In Contract	Sold Feb '10	Sold 2010 YTD	Sold 2009 YTD	Ave $/Sq Ft	Ave DOM
	The Preserve	14	2	1	1	4	$95	117
	Albany Park	4	2	0	0	0	-	0
	Windsor	6	1	1	3	1	$104	55
	Hampsted	17	4	0	3	1	$122	133
	NA Links	28	4	4	5	2	$117	213
	New – Central College*	11	0	0	0	0	-	0
	NACC < $1M**	51	7	4	9	5	$141	236
	NACC > $1 million	39	1	1	2	1	$216	222
	Plain Local School District	207	33	15	29	16	$120	153
	*Includes Tidewater, Saunton, The Enclave and Wentworth
	**Includes NACC and The Reserve