Summer Housing Market Update

This summer, the housing market in New Albany is moving fast. With more than 22 years of experience helping clients buy and sell homes here, all of us at Thomas & Company have never seen a market this hectic. But the real question is what makes this market different and why is it such a great time to sell your home?

In short, New Albany is currently in a “perfect storm” market for sellers, where housing prices have been rising at the same time that inventory has remained very low. While the summer is typically a high time for buyers to start looking to begin with, the atypical drought of sellers has led to an unprecedented increase in demand. Right now, a majority of the well-priced homes hitting the market and going into contract in under a week – and often with multiple offers.

Earlier in this market frenzy, comparative sold listings were lagging behind; however, with 9-12 months of values consistently increasing, appraisals are finally reflecting the actual market value of homes in New Albany.

One thing that the real estate market is not right now is predictable. And, while the market seems to be trending upward, there is no guarantee that this will continue into the coming months or even weeks. If you have been considering selling your home, there is little doubt that you will get a better price in the future than you would today.

If you would like a better idea of what your home is currently worth, please reach out to someone here at Thomas & Company – we offer complimentary market valuations and expertise. And, with our suite of services, including home staging, professional photography, and a results-driven marketing plan, we’ll make your home stand out from the rest!

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