New Albany Real Estate Report
New Albany Market Update – YTD Through 10/31/09
The number of homes for sale in both New Albany and in central Ohio continues to decrease. In New Albany, inventory levels of homes for sale are down 17% from October 2008. This is uncharacteristically low for our community.
One year ago, the month’s supply of homes for sale in New Albany was 12.1. But with the increase in sales and drop in inventory, the month’s supply is now down to 9.3. This number means that if no new homes were added to the market and the rate of sale continued to be the same, it would take slightly more than nine months to sell all remaining inventory. A market is typically considered balanced with around a 7 month supply which means New Albany is getting much closer to a balanced market.
We hope the good news will continue as we finish out the year. If you want to discuss your home or begin a search for a new one, please call Kate & Tony, market leaders of residential real estate in the greater Columbus area.
New Albany Sales Update by Neighborhood – YTD Through October, 2009
Neighborhood |
Active Listings |
In Contract |
Sold Oct '09 |
Sold '09 YTD |
Sold '08 YTD |
Ave $/Sq Ft |
Ave DOM |
|
The Preserve |
13 |
3 |
3 |
24 |
23 |
$103 |
106 |
|
Albany Park |
3 |
- |
- |
9 |
7 |
$101 |
82 |
|
Windsor |
14 |
3 |
- |
9 |
9 |
$107 |
169 |
|
Hampsted |
17 |
5 |
4 |
28 |
44 |
$114 |
128 |
|
NA Links |
33 |
2 |
1 |
29 |
28 |
$113 |
168 |
|
New – Central College* |
14 |
- |
- |
3 |
5 |
$139 |
350 |
|
NACC < $1M** |
61 |
11 |
9 |
55 |
51 |
$153 |
168 |
|
NACC > $1 million |
38 |
1 |
- |
10 |
17 |
$218 |
280 |
|
Plain Local School District |
241 |
38 |
26 |
212 |
243 |
$135 |
146 |
|
*Includes Tidewater, Saunton, Wentworth, The Enclave |
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**Includes NACC and The Reserve |
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