ThomasRiddleGroup

ThomasRiddleGroup

Is there a Foreclosure Problem in New Albany, Ohio?

An article in the August 13th issue of the Columbus Dispatch referred to a growing foreclosure problem in the suburbs of Columbus.  I began to wonder if this applied to New Albany as well.  I searched the  Multiple Listing Service to see how many of the homes that have sold in NA so far this year were either Foreclosed properties or Short Sale properties.

22 Foreclosed or Short Sale Homes Sold in New Albany Year to Date

Year to date (through 8/26/09), 144 homes have sold in the New Albany School District.  22 of the homes sold were either Foreclosed properties or Bank Short Sales or 13% of the homes sold.  This is not an insignificant number but it does mean that 85% of the homes sold in New Albany this year were traditional resale or new build homes.  A breakdown by price range shows that only 5% of the homes sold above $400.0 were foreclosed or short sale properties while 22% of the homes sold under $400.0 were foreclosures or short sales.  A breakdown by price range is shown below.

New Albany YTD Sold vs Foreclosed & Bank Short Sales
Price Range

Total Sold

# FrCl/ShSl

% to Total

Under $200.0

23

7

30%

$200.0 – $400.0

62

12

19%

$400.0 – $600.0

31

1

3%

$600.0 – $800.0

14

1

7%

$800.0 – $1000.0

7

1

14%

Over $1 Million

7

0

0%

Total

144

22

13%

Questions? Ask a  New Albany Ohio Realtor

Tony has earned the Certified Distressed Property Expert (CDPE) designation and can answer your questions about both foreclosures and short sales. Visit our website newalbanyohio.com for information on Foreclosure and Short Sale Assistance.

Until next time,
Kate

Share this post

Recent Posts

Real Estate News in Brief for February 2024

There’s a palpable excitement in the market as the spring selling season nears. The Fed may have kept rates on hold, but the market is expecting interest rate cuts in the near future. After two years of 15–20% pa declines in transaction volumes, there could be a big rush if mortgage rates drop significantly.

Read More »

Get in Touch

Have questions? We’re happy to help. Ask us here and we’ll get back to you right away.

Compare listings

Compare

Get Started With A Free, No-Obligation, Market Analysis.

As full-time and fully dedicated real estate agents, our sole focus will be on your sale and your happiness. We will always be a call, email, or text away to advise you as needed.

Get Your Updated Home Value

Where should we send your updated home value?

Anything else we should know?

Note: Please be assured we will use this information only to send you the information you have requested and we will never share or rent your contact information with any other party. By giving us your name and email address, you are giving Thomas|Riddle Real Estate Group permission to contact you.