The number of single family homes for sale in New Albany, OH reached a new low in February falling 34% from the same time in 2009. There are currently 168 homes for sale in New Albany Plain Local School District versus 207 in February, 2010 and 256 in February, 2009. The following neighborhoods have reduced inventories from the same time 2009. Some declines are more significant than others.

Today’s buyer has many choices of homes to choose from and has the ability to preview as many as their time allows. Using the internet, buyers can preview and “eliminate” hundreds of homes for sale. As they view these homes, they are looking for reasons to eliminate it from their list. The reasons are varied – they may think it needs too much work, is too small, don’t like the color it’s painted, etc. The reality is that the house may be a good fit for them and the reason they choose to eliminate it from the list could be easily rectified.

A look at a few key metrics tell the story. New Albany Real Estate is on the rebound. While first portion of 2010 was driven by tax incentives and first time home buyers, we really just "borrowed" future sales from July and Aug to hit the June 30th deadline. We were really pretty flat through mid 3rd Quarter 2010. Then we had a good finish and pushed ahead of 2009 in these important areas:

You don’t have to look too hard for some encouraging real estate news in New Albany from last year. Overall, prices stabilized and unit sales were up 13% over the 2009 numbers versus a 5% decrease in unit sales in the entire Columbus Board of Realtors. As you will see in the chart below, some neighborhoods faired a little better than others. The New Albany Links and New Albany Country Club communities significantly improved in units sold but lost a little ground in sales prices while The Preserve and Albany Park saw improvement in sales prices.

OK, so here's the details of So How We Doin' New Albany by neighborhood: NACC Homes Sold 2010 Hampsted Village Homes Sold 2010 New Albany Links Homes Sold 2010 The Preserve Homes Sold 2010 New Albany Park Homes Sold 2010

New Albany, OH Market Update

Check Out Our New Look The leading web site for all things Real Estate in New Albany, NewAlbanyOhio.com , has a bold new look. Check it out!  We've kept the features you love, like searching New Albany Homes by price and updated our layout for easier use. New Features Now you can see real time New Albany real estate trendswith a click of your mouse. you can subscribe to have this data emailed to you...

What's Going on with New Albany's Big Homes ? People often ask me, "Wow, what's going on the all the big $ Million homes on the market in New Albany, aren't they selling?"  The short answer is yes they are.  But when we look back in time and dig a little we can see some interesting things emerge. Drill Down to the Detail While there is no denying that a reduction from 23 homes sold in...

Lawrence Yun, chief economist for the National Association of Realtors, presented the NAR Forecast for 2010 real estate at the annual conference held in San Diego in November.  His projections included the following good news:  13.6% increase in the sale of existing homes as well as a return to positive growth in home values as inventory levels continue to decline. Although real estate markets vary...

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...