We now have the answer to whether the home buyer tax credit was good for real estate. The answer is a resounding “Yes”. In New Albany, unit sales through July when the tax credit was in effect were up 37% over the same time in 2009.
3rd quarter home sales tell a totally different story – New Albany went from a 37% increase to a 7% decrease over last year. It does appear as if we pushed 3rd and maybe 4th quarter business into the 1st half of the year. We still see downward pressure on prices but they are not slipping at the rate we saw in 2008 and 2009. Interest rates are historically low which is helping to bolster the market.
Still, homes sell year round. At the current rate of sale, 60 homes should sell in New Albany during the final quarter of 2010. If you want your home to be one of the 60, contact Kate & Tony Thomas. We are selling homes and will get the job done!
New Albany 3rd Quarter and YTD Recap
|Neighborhood||Active||In||Sold||Sold YTD||Sold YTD||Ave||Ave|
|NACC < $1M**||61||16||23||60||48||$148||145|
|NACC > $1M||27||1||4||15||10||$205||278|
|Tot Plain Local|
|* Includes Tidewater, Saunton, Enclave and Wentworth|
|** Includes NACC and The Reserve|