October 2008 e-Newsletter Market Update

Sept '08 YTD New Albany Real Estate Market Update

 
September is the first month this year that we have seen the unit sales figures slip in New Albany over the same time in ’07. During September ’08, there were 14 homes that closed versus 21 homes that closed during September ’07. It’s far too soon to determine whether September represents a change in our market or was just an anomaly. We also don’t want to lose site of the fact that there are 41 homes in contract waiting to close (the time from contract to closing is averages 45 days or so) so the October numbers should be positively impacted by these homes in contract.
 
The uncertainty in the financial markets has surely sidelined a number of buyers who might otherwise have purchased a home. The impact of the $700 billion dollar bailout of the financial markets by the federal government should do much to soothe the nerves of would-be buyers. Let’s hope so!!! There are some terrific homes available at sharp prices which represents good opportunities for today’s buyers.
 
Contact us when you have any questions about what’s happening in your neighborhood or when you need the assistance of New Albany’s Real Estate Experts, Kate & Tony Thomas.
 
 
 
Neighborhood
Active
Listings
In
Contract
Sold
Sep 08
Sold YTD
Sept 08
Sold YTD
Sept 07
Average
$/Sq.Ft
 Ave.
DOM  
The Preserve
21
4
2
21
31
 $     109
153
Albany Park
10
0
0
7
10
 $     116
164
Windsor
7
5
1
8
8
 $     113
123
Hampsted Village
27
10
3
38
21
 $     121
140
New Albany Links
44
6
2
22
22
 $     118
164
Tidewater/Enclave *
9
0
1
5
4
 $     157
243
NACC < $1 million
73
4
1
46
48
 $     155
200
NACC > $1 million
34
5
1
15
16
 $     228
273
Total Plain Local
School District
296
41
14
220
213
 $     133
164
 
*Includes Tidewater, Saunton, Enclave, & Wentworth
 
 

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