Report: National and New Albany, Ohio Real Estate Market Improving

New Albany Ohio real estate for saleThe local housing market is improving, according to a recent article I read.

Evidently, the National Association of REALTORS reported seeing the strongest home sale figures in three years!

The Columbus Board of REALTORS, which oversees activity on the New Albany real estate market, echoed that sentiment for our local housing market!

New Albany Ohio Homes for Sale

Here’s an overview of recent activity on the New Albany, Ohio market:

  • Central Ohio Sales increased by 14.9 percent between Feb. 2012 and Feb. 2013 – or from 1,264 to 1,452.
  • That’s the 14th consecutive month that the area has seen year-over-year gains in sales.
  • Statewide, home sales prices increased by 8 percent, and nationwide, prices increased by 11.6 percent.
  • The average days on the market for Central Ohio homes decreased by 18.9 percent – from 106 to 86.
  • Dayton was the only major community in Ohio that saw sales increase more than our area. Their sales increased by 17.6 percent year-over-year – from 686 to 807.
  • And home sales across the country were at their highest levels since November 2009.

Still, the housing market has some obstacles to overcome to make sure that it’s fully healthy.

For instance, there is a very low number of homes available for sale on the market. In fact, in central Ohio, available homes for sale are at a 10-year-low.

What’s more, first-time home buyers remain hesitant to enter the market, instead choosing to rent. That’s why you’ll see that first time home buyers are only accounting for 30 percent of home sales in the area, when they would be accounting for 40 percent of sales in a normal market.

Prices remain well below where they were at their peak. For instance, the average sales price for a central Ohio home in February 2005 was $173,791. In recent weeks, that price has been $149,887.

Your New Albany, Ohio REALTORS®

The take-home message about the New Albany real estate market is that it’s improving, although there is still room for growth.

For more information on the current state of the New Albany real estate market and how it affects you and your home-selling efforts, please contact us, Kate & Tony Thomas.

When you do, we’ll answer any questions you have, help you determine the true value of your New Albany home and also offer you such helpful tools as:

Until next time,

Kate & Tony

Share this post

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on email
Recent Posts

5 Ways to Make Your Home Feel Like Fall

Although the temps still feel like summer, fall is around the corner. We love bringing seasonal elements into our space to reflect the environment around

Get in Touch

Why Choose Thomas Riddle Real Estate Group?

Selling a house on your own can be an overwhelming task. There’s advertising to plan and budget for, open houses and private showings to arrange, purchase offers to negotiate, contract contingencies to worry about, and complicated paperwork to fill out. Make it easy on yourself by putting your home in the hands of seasoned professionals. We have extensive experience marketing properties and showing them to their best advantage.

Compare listings


Get Your Home's Accurate Value

Receive a No-Obligation Market Evaluation from our Listing Experts Rob Riddle, Tony Thomas, & Kate Thomas

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.