market analysis

New Albany Ohio Real Estate – 2011 Recap

Good Real Estate News in New Albany! Sales of single family homes in New Albany in 2011 exceeded 300 units for the first time in 6 years. 344 homes sold in New Albany this year compared to 274 homes sold last year. 2005 was the last year New Albany saw home sales in this range. I don’t know if this is the new “normal” but it certainly indicates that our market has probably hit bottom...

New Albany Real Estate Market Report for January

The last few weeks of 2011 proved to be a rather successful time for New Albany area home sellers, as evident by the most recent real estate data from Trulia. Continue reading to learn more about the latest market trends in New Albany, Ohio and how it may affect you as a home seller. New Albany Properties for Sale Here’s an overview of the current state of the New Albany real estate...

New Albany, Ohio Real Estate Market Report for November 2011

The New Albany, Ohio real estate market saw a lot of changes during the last couple of months, according to the most recent data from the real estate website Trulia. Evidently, both home sales and home sales prices have been on the rise lately. Continue reading to learn more about the latest trends on the New Albany housing market, and how they may affect you as a New Albany home buyer. New Albany Homes...

New Albany Home Prices Stabilizing

New Albany Country Club Homes Prices Hold Sale prices of homes in the New Albany Country Club community seem to have leveled out.  2012 prices remain equal to 2009 and 2010.  One of the gauges we use to evaluate sales trends is $ per Square Foot.  If you look at the past 3 years, the average sales price for real estate in the New Albany Country Club area has been ~$162/square foot.  While this...

Franklin County Property Appraisals Released Today

Check your mail for your new home valuation! We know property values have fallen since the last county wide appraisals were done in 2005 but just how much? You’ll know soon. The Franklin County auditor’s office is mailing the new valuations today! It’s unprecedented and will be interesting to see what they look like. While the auditor reports that Franklin County property values are down 6.7% from 2005, I expect to see a deeper decline in the New Albany valuations. What if you don’t agree with the new valuation?

Lunch with Snoopy

We had a great luncheon meeting with our lender partner, Scott Miller of Met Life Home Mortgage, and his team yesterday at their new corporate digs. The focus of the meeting was for our team to get a complete understanding of the new world of home loans and the process from application to funding. To quote an old song from my youth "It don't come easy" . There are lot's new steps and lots of different hand offs, gates and gate keepers. "Rushing" any deal these days is all but impossible as the banking industry is still reeling from the sub prime mess. Mac & Mae At the end of the day, 90% of all loans come through the federal entities Freddy Mac and Fannie Mae. So if you are going to get your loan through Acme Savings and Loan or Ginormous National Bank, at the end of the day the money and the thumbs up or down are tied to Mac and Mae. That's because Acme and Ginormous sell their loans to Freddy and Fannie, and while they once took in any 'ole kinda loan like a lost puppy, they are now very picky.

Thomas Times Summer 2011 eNewsletter

Every Realtor should have to experience selling their own home in order to fully understand and remember the challenges a seller faces when selling their home. Tony and I are in the midst of selling ours after 15 years in the same place! The listing process was painful – staging, cleaning, and frequently being the bridesmaid instead of the bride...

New Albany Real Estate Stats – Mid Year

New Albany Real Estate is Back! All I can say is Wow! Sales of New Albany real estate continues strong and bucking the trend in Greater Columbus. For the first half of 2011, unit sales of single family homes are up 20% over same time last year. Unit sales in the Greater Columbus area are down 15% for the same time frame. Will it continue? The number of homes “in contract” at the end of June are up 50% over last year which leads me to believe that the New Albany trend will continue into the 3rd quarter. These stats are pretty amazing considering the inventory of homes available for sale in New Albany is down 23% over this time last year. Sustainability of the trend will depend on if we can rebuild the inventory of homes available for sale. If you’ve been thinking about selling but have been holding back, it looks like now is the time to get into the market! Call Kate or Tony Thomas today!

Sunny Skies Should Continue in New Albany, Ohio

Home Sales Up 29% YTD in New Albany I just pulled the Year-to-date statistics for home sales in New Albany and was very pleasantly surprised at how strong they are. Through May, 2011, 124 single family homes have sold in the New Albany Plain Local School District versus 96 sold through May in 2010. This is a remarkable 29% increase in homes sold this year over last. TY/LY sales for the Greater Columbus area are down 16%. Need Homes to Sell to Sustain Trend With this leap forward in home sales, and a large inventory of homes currently in contract, New Albany is positioned to have a truly excellent year. The only stumbling block that I see right now is if the low number of homes for sale is not replenished. Inventory levels are off significantly. In order to sustain the current trend, it’s time for the “don’t have to sell, but want to sell” sellers to re-enter the market. If you fit that description or are a “have to sell” seller, then we want to talk with you! Call or email us today.

Not Enough Homes for Sale in New Albany, Ohio!

Hard to believe but true… There are simply not enough homes available for sale in the New Albany Plain Local School District. New Albany real estate inventory levels are at record lows – off almost 40% from this time last year. Prices are stabilizing and buyers are looking. I have to say, if you’ve been on the fence about selling, this would be the time to get your New Albany home on the market.

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