Archives: April 2013

New Albany, Ohio Makes Plans for New Park in the City

New Albany parkLikely to the delight of all of our young families living here, there may be a new park coming to the New Albany Ohio area.

According to a recent article I read, New Albany Mayor Nancy Ferguson has publicly said that she wants the city to consider adding a park at the northeast corner of Main and High streets.

Living on the Central Ohio Real Estate Market

Evidently, the New Albany Company donated the land where the new park would go in 2007.

New Albany Co. is one of the area’s largest developers.

The city owns three parcels in that corner of the city and developed a veteran’s memorial there back in 2009.

Although the city had plans to developer passive park space with seating there around that same time, the economic downturn put the brakes on that plan.

Then, in 2012, the city council made moves to start planning the park again – but such preparations would have cost $7,500 and nothing ever happened.

Now the mayor is pushing for the city to move forward with plans for the park.

Meanwhile, the city is bringing several more improvements to the immediate area, including new street lights and sidewalks, brick curbs approved by the Americans With Disabilities Act, a new turning lane and on-street parking.

All of those improvements are expected to cost the city $1.8 million.

We’ll keep you posted on any new developments with this proposed park on the Northeast corner of Main and High Streets. It really would be a great addition to our city!

Relocating to New Albany, Ohio

As the city continues to invest in such projects as road improvements and municipal parks, quality of life is sure to get even better in our community.

If you’re interested in purchasing your own New Albany Ohio property, please contact us, Kate & Tony Thomas.

We’ll let you know about available listings, provide you with expert advice and also offer you such home-buying resources as:

Until next time,

Kate & Tony

City of New Albany and Local Organizations Partnering to Create Wellness Center

New Albany wellness centerQuality of life in New Albany, Ohio is about to increase even more, thanks to a recent partnership among the city, Ohio State University and the non-profit Healthy New Albany.

The three organizations recently announced their plans to build a 48,000 square foot, community-based health and wellness center in New Albany’s historic Village Center.

This is an amazing project that will improve the lives of New Albany residents.

Living in New Albany, Ohio

According to the recent article I was reading, the new health and wellness center will blend such key components as:

  • Personalized medicine
  • Exercise
  • Community Activities

According to agreements between the three organizations invoved, The Ohio State University Wexner Medical Center will lease more than 70 percent of the space in the center, which will be owned by the city of New Albany.

The health and wellness center is expected to allow the Wexner Medical Center to introduce its concept of personalized healthcare, which they call P4 Medicine.

What’s more, Healthy New Albany plans to promote healthy lifestyles to those living and working in the city through this new center.

Healthy New Albany founder Phil Heit called the new center a “destination place” that will serve “as a community hub of health and wellness activity.”

There will even be a research component to the new center, mostly through the Wexner Medical Center’s P4 Medicine concept, which will explore consumer participation, predicting and preventing disease and creating personalized life strategy wellness plans for individuals.

There is also expected to be a major programming component to the center, with classes given to meet the needs of all ages, athletic levels and more.

What’s more, city officials are saying that the wellness center could serve as a catalyst for even more development in the Village Center, which is closely located to a number of civic and social locations like the post office, the library, New Albany Plain Local School District campus and the McCoy Center for the arts.

Construction on the wellness center is expected to be complete by early 2014.

Relocating to New Albany, Ohio

It really is exciting that the New Albany, Ohio will be on the cutting edge of health/wellness research and outreach.

And with all of the programming that is expected to come out of this center, local residents have plenty of fun and educational activities to look forward to enjoying with the family!

If you would like to learn more about what makes living in New Albany such an exceptional experience, please contact us, Kate & Tony Thomas.

We’ll let you know about available listings, answer any questions you may have and also provide you with such helpful relocation resources as:

Until next time,

Kate & Tony

Report: National and New Albany, Ohio Real Estate Market Improving

New Albany Ohio real estate for saleThe local housing market is improving, according to a recent article I read.

Evidently, the National Association of REALTORS reported seeing the strongest home sale figures in three years!

The Columbus Board of REALTORS, which oversees activity on the New Albany real estate market, echoed that sentiment for our local housing market!

New Albany Ohio Homes for Sale

Here’s an overview of recent activity on the New Albany, Ohio market:

  • Central Ohio Sales increased by 14.9 percent between Feb. 2012 and Feb. 2013 – or from 1,264 to 1,452.
  • That’s the 14th consecutive month that the area has seen year-over-year gains in sales.
  • Statewide, home sales prices increased by 8 percent, and nationwide, prices increased by 11.6 percent.
  • The average days on the market for Central Ohio homes decreased by 18.9 percent – from 106 to 86.
  • Dayton was the only major community in Ohio that saw sales increase more than our area. Their sales increased by 17.6 percent year-over-year – from 686 to 807.
  • And home sales across the country were at their highest levels since November 2009.

Still, the housing market has some obstacles to overcome to make sure that it’s fully healthy.

For instance, there is a very low number of homes available for sale on the market. In fact, in central Ohio, available homes for sale are at a 10-year-low.

What’s more, first-time home buyers remain hesitant to enter the market, instead choosing to rent. That’s why you’ll see that first time home buyers are only accounting for 30 percent of home sales in the area, when they would be accounting for 40 percent of sales in a normal market.

Prices remain well below where they were at their peak. For instance, the average sales price for a central Ohio home in February 2005 was $173,791. In recent weeks, that price has been $149,887.

Your New Albany, Ohio REALTORS®

The take-home message about the New Albany real estate market is that it’s improving, although there is still room for growth.

For more information on the current state of the New Albany real estate market and how it affects you and your home-selling efforts, please contact us, Kate & Tony Thomas.

When you do, we’ll answer any questions you have, help you determine the true value of your New Albany home and also offer you such helpful tools as:

Until next time,

Kate & Tony

Update on Business Center Coming to New Albany, Ohio

New Albany business centerThere’s a new business coming to the New Albany, Ohio area, bringing with it plenty of excellent job opportunities.

According to a recent article I read, PCM/Sarcom is planning to add a second operation with the New Albany data center. With this expansion, residents can expect to see 15 to 20 more jobs open up in the New Albany area.

Job Opportunities in New Albany, Ohio

Here’s what else I learned about this job expansion in New Albany Ohio:

National IT services provider PCM Inc. will be building a data center in New Albany in the next several months.

PCM resells hardware from manufacturers and has been emphasizing growth in its IT services.

This company has been steadily growing for the last several years and now has about 350 employees – up from 280 just two years ago!

Recently, PCM purchased 7.8 acres at Souder and New Albany roads for $1.4 million in December.

Then, City Council approved a 65 percent property tax abatement for the data center project in November, which came out to be about $9.4 million, including land.

The data center – which is expected to add 15 to 20 workers – may open as early as this November.

Investing in New Albany, Ohio Real Estate

The fact that a company is willing to continue investing in our community signals that New Albany’s local economy is robust and desirable.

Plus, our community also offers such quality of life amenities as excellent public schools, beautiful and safe residential neighborhoods and numerous recreational amenities.

What better place is there to call home than that?

If you’re interested in purchasing your own piece of New Albany Ohio real estate, please don’t hesitate to contact us, Kate & Tony Thomas.

We’ve helped home buyers just like you find their dream homes in a variety of price ranges:

Until next time,

Kate & Tony

New Albany Real Estate News is All Good!

1st Quarter Results Encouraging

Despite a 25% reduction in the number of homes available for sale in New Albany, 1st quarter unit sales were up 5% over last year. There are currently fewer than 90 homes and condos for sale in the New Albany Plain Local School District. This represents less than a 5 month supply of homes based on the rate of sale for March. This definitely qualifies our current market as one that favors Sellers! As a result, we are beginning to see a slight rise in home prices pretty much across the board – particularly an increase in the list price of homes that are currently in contract. A breakdown of 1st quarter results by New Albany neighborhood follows but I’ve summarized the highlights:

  • The number of homes for sale is down 25% – 87 homes currently available vs. 116 last year
  • Unit sales up 5% for the 1st quarter of 2013
  • The number of homes in contract is up 24% – 78 homes in contract this year vs. 63 last year
  • Average list price of homes in contract is above the average list price of the homes that closed in the 1st quarter in every New Albany neighborhood
  • Homes are selling 40% faster than they did in the first quarter last year – homes averaging 75 days on market this year vs. 126 last year

New Albany, OH 2013 Real Estate 1st Qtr Recap

Neighborhood Active
Listings
In
Contract
Sold
March
 2013
Sold YTD
2013
Sold YTD
2012
Ave
$/Sq Ft
Ave
DOM
The Preserve 3 7 4 8 8 $106 37
Albany Park 3 3 0 2 3 $105 159
Windsor 4 6 1 3 6 $113 54
Hampsted 6 8 3 8 7 $111 70
NA Links 2 8 1 4 5 $106 85
New-CCollege* 1 4 1 3 2 $128 128
NACC < $1M** 28 13 6 15 13 $158 128
NACC > $1M 13 2 0 3 6 $219 26
Tot Plain Local
School District 87 78 18 63 60 $120 75
* Includes Tidewater, Saunton, Enclave and Wentworth
** Includes NACC and The Reserve

 

Never a Better Time To Consider Selling Your New Albany, OH  Home

Based on the above, 2013 is shaping up to be a great year to sell your home – inventory and days on market are down while prices and number of homes selling are rising! Contact us, your New Albany real estate experts  if you have questions about the market for your home or about getting your home ready to sell! The members of our team are expert at handling the sale of your current home and purchase of your next one!  Call us at 614-939-1234 or visit us at www.NewAlbanyOhio.com, the #1 website for New Albany Real Estate!

Until next time,
Kate & Tony