New Albany Real Estate Report

New Albany Market Update – YTD Through 10/31/09

We continue to see good news in New Albany! Home sales increased over twenty five percent in September/October compared with last year. This marks the first time in over a year where the number of homes sold is greater than 2008 for 2 consecutive months.

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

**Includes NACC and The Reserve


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