Evidently, the National Association of REALTORS reported seeing the strongest home sale figures in three years!
New Albany Ohio Homes for Sale
Hereâ€™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 â€“ or from 1,264 to 1,452.
- Thatâ€™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 â€“ 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 â€“ 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 itâ€™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.
Whatâ€™s more, first-time home buyers remain hesitant to enter the market, instead choosing to rent. Thatâ€™s why youâ€™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 REALTORSÂ®
The take-home message about the New Albany real estate market is that itâ€™s improving, although there is still room for growth.
When you do, weâ€™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