Archives: September 2009

Is there a Foreclosure Problem in New Albany, Ohio?

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 New Albany Year to Date

Year to date (through 8/26/09), 144 homes have sold in the New Albany School District.  22 of the homes sold were either Foreclosed properties or Bank Short Sales or 13% of the homes sold.  This is not an insignificant number but it does mean that 85% of the homes sold in New Albany this year were traditional resale or new build homes.  A breakdown by price range shows that only 5% of the homes sold above $400.0 were foreclosed or short sale properties while 22% of the homes sold under $400.0 were foreclosures or short sales.  A breakdown by price range is shown below.

New Albany YTD Sold vs Foreclosed & Bank Short Sales
Price Range

Total Sold

# FrCl/ShSl

% to Total

Under $200.0

23

7

30%

$200.0 – $400.0

62

12

19%

$400.0 – $600.0

31

1

3%

$600.0 – $800.0

14

1

7%

$800.0 – $1000.0

7

1

14%

Over $1 Million

7

0

0%

Total

144

22

13%

Questions? Ask a  New Albany Ohio Realtor

Tony has earned the Certified Distressed Property Expert (CDPE) designation and can answer your questions about both foreclosures and short sales. Visit our website www.NewAlbanyOhio.com for information on Foreclosure and Short Sale Assistance.

Until next time,
Kate