New Albany Real Estate Market Update

September is the first month this year that we have seen the unit sales figures slip in New Albany over the same time in ’07.  During September ’08, there were 14 homes that closed versus 21 homes that closed during September ’07.  It’s far too soon to determine whether September represents a change in our market or was just an anomaly.   We also don’t want to lose site of the fact that there are 41 homes in contract waiting to close (the time from contract to closing is averages 45 days or so) so the October numbers should be positively impacted by these homes in contract.

The uncertainty in the financial markets has surely sidelined a number of buyers who might otherwise have purchased a home.  The impact of the $700 billion dollar bailout of the financial markets by the federal government should do much to soothe the nerves of would-be buyers.  Let’s hope so!!!  There are some terrific homes available at sharp prices which represents good opportunities for today’s buyers. 

Contact us when you have any questions about what’s happening in your neighborhood or when you need the assistance of New Albany’s Real Estate Experts, Kate & Tony Thomas.

YTD September 2008 Market Update:

Neighborhood

Active
Listings

In
Contract

Sold
Sep 08

Sold YTD
Sept 08

Sold YTD
Sept 07

Average
$/Sq.Ft

Ave.
DOM

The Preserve

21

4

2

21

31

$ 109

153

Albany Park

10

0

0

7

10

$ 116

164

Windsor

7

5

1

8

8

$ 113

123

Hampsted Village

27

10

3

38

21

$ 121

140

New Albany Links

44

6

2

22

22

$ 118

164

Tidewater/Enclave *

9

0

1

5

4

$ 157

243

NACC < $1 million

73

4

1

46

48

$ 155

200

NACC > $1 million

34

5

1

15

16

$ 228

273

Total Plain Local
School District

296

41

14

220

213

$ 133

164

 

*Includes Tidewater, Saunton, Enclave, & Wentworth

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