It was a great month on the New Albany real estate market, especially if you’re a home seller. Evidently, home sales in Central Ohio are up while total home inventory is down. Continue reading to learn more about current market trends on this Central Ohio real estate market. Central Ohio Properties for Sale Thinking about selling your home? Be sure to check out the latest market statistics...

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...

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.

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.

I had a phone call from a gentleman this week asking if I was the listing agent for a home for sale in New Albany. I replied that I wasn’t but that I could help him as a buyer agent to which he replied, “What’s that?” It made me realize that as Realtors, we use a lot of terms that may not be familiar to those not in the business. So I took a moment to explain to him what a buyer agent is along with explanations of other common terms. Real Estate Brokers – Real estate brokers have a real estate broker’s license and operate a real estate brokerage. New Albany Realty is the brokerage that Kate & I work for. Realtors® – A Realtor is a licensed real estate agent who is also a member of the National Association of Realtors® (NAR). We are members of NAR® and thus, are able to call ourselves Realtors. Listing Agents – Listing agents are real estate agents who represent sellers, market their homes and work to get their sellers the best price and terms. In Ohio, with written permission listing agents may also represent the buyers for their listings. Buyer Agents – Buyer agents are real estate agents who represent buyers, help them find homes that meet their criteria, and work to get their buyers the best price and terms. We have 2 Buyer Agents on our team – Bev Klein and Laura Kohler. Bev and Laura are available to assist you with your home search so don’t hesitate to contact them. Kate & Tony work with both Sellers and Buyers and would be happy to work with you!

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