1st Quarter Results Encouraging
Despite a 25% reduction in the number of homes available for sale in New Albany, 1st quarter unit sales were up 5% over last year. There are currently fewer than 90 homes and condos for sale in the New Albany Plain Local School District. This represents less than a 5 month supply of homes based on the rate of sale for March. This definitely qualifies our current market as one that favors Sellers! As a result, we are beginning to see a slight rise in home prices pretty much across the board – particularly an increase in the list price of homes that are currently in contract. A breakdown of 1st quarter results by New Albany neighborhood follows but I’ve summarized the highlights:
- The number of homes for sale is down 25% – 87 homes currently available vs. 116 last year
- Unit sales up 5% for the 1st quarter of 2013
- The number of homes in contract is up 24% – 78 homes in contract this year vs. 63 last year
- Average list price of homes in contract is above the average list price of the homes that closed in the 1st quarter in every New Albany neighborhood
- Homes are selling 40% faster than they did in the first quarter last year – homes averaging 75 days on market this year vs. 126 last year
New Albany, OH 2013 Real Estate 1st Qtr Recap
| Neighborhood | Active Listings |
In Contract |
Sold March 2013 |
Sold YTD 2013 |
Sold YTD 2012 |
Ave $/Sq Ft |
Ave DOM |
| The Preserve | 3 | 7 | 4 | 8 | 8 | $106 | 37 |
| Albany Park | 3 | 3 | 0 | 2 | 3 | $105 | 159 |
| Windsor | 4 | 6 | 1 | 3 | 6 | $113 | 54 |
| Hampsted | 6 | 8 | 3 | 8 | 7 | $111 | 70 |
| NA Links | 2 | 8 | 1 | 4 | 5 | $106 | 85 |
| New-CCollege* | 1 | 4 | 1 | 3 | 2 | $128 | 128 |
| NACC < $1M** | 28 | 13 | 6 | 15 | 13 | $158 | 128 |
| NACC > $1M | 13 | 2 | 0 | 3 | 6 | $219 | 26 |
| Tot Plain Local | |||||||
| School District | 87 | 78 | 18 | 63 | 60 | $120 | 75 |
| * Includes Tidewater, Saunton, Enclave and Wentworth | |||||||
| ** Includes NACC and The Reserve | |||||||
Never a Better Time To Consider Selling Your New Albany, OH  Home
Based on the above, 2013 is shaping up to be a great year to sell your home – inventory and days on market are down while prices and number of homes selling are rising! Contact us, your New Albany real estate experts  if you have questions about the market for your home or about getting your home ready to sell! The members of our team are expert at handling the sale of your current home and purchase of your next one!  Call us at 614-939-1234 or visit us at newalbanyohio.com, the #1 website for New Albany Real Estate!
Until next time,
Kate & Tony