Tag Archives: market analysis

Your Very First New Albany OH Real Estate Market Report for 2015

Home Buying 16If you’re a prospective New Albany area home buyer, then 2015 is certainly going to be a good year for you!

According to a recent New Albany real estate data report I was reading, the average price per square foot as well as the median sales price are both showing year-over-year decreases.

Translation? Now is a great time to get a great deal on a New Albany home for sale! Continue reading to learn more.

An Overview of the Current State of the New Albany Housing Market

Here’s are the most recent numbers from the local housing market:

  • Currently there are 190 homes for sale on the market, including 37 in some stage of the foreclosure process.
  • Between October and January, the average price per square foot for New Albany was $138, down 20.7 percent from the same period last year.
  • Meanwhile, the median sales price for homes was $318,000 based on 61 home sales.
  • Compared to a year ago, the median home sales price increased 0.2 percent, or $500.
  • And the number of home sales decreased 4.7 percent.
  • Broken down further, the median sales price for 2-bedroom homes here was$236,750.
  • The median sales price for 3-bedroom homes was $280,000.
  • And the median sales price for 4-beedroom homes was $369,500
  • During the week ending on Jan. 7, the average listing price for New Albany homes for sale was $512,556, down 2.5 percent from the week before.
  • During that previous week, the average listing price for homes here was $$525,000.
  • Broken down by size of the home, the average listing price for 2-bedroom homes here was $215,832
  • The average listing price for 3-bedroom homes was $382,8464.
  • And the average listing price for 4-bedroom homes was $476,422

How Can We Help You With Your Next New Albany, OH Purchase?

If you’re thinking about investing in New Albany real estate anytime soon as a home buyer, we invite you to take a moment to contact us, Kate & Tony Thomas, today.

We have years of experience helping home buyers just like you make their dream a reality and we’d be happy to do that for you as well by answering all of your lingering questions and telling you about available listings in New Albany.

We’ll also offer practical and expert advice that you won’t find anywhere else!

Until next time,

Kate & Tony

New Albany Ohio Real Estate – 2011 Recap

Good Real Estate News in New Albany!

Sales of single family homes in New Albany in 2011 exceeded 300 units for the first time in 6 years. 344 homes sold in New Albany this year compared to 274 homes sold last year. 2005 was the last year New Albany saw home sales in this range. I don’t know if this is the new “normal” but it certainly indicates that our market has probably hit bottom and hopefully on the upswing.

If you are one who has chosen to remain on the sidelines these past few years, this is a good time to consider jumping back in! As a seller, the inventory is lower than I can ever remember it being. It’s 38% below where it was at this time last year. As a buyer, prices and interest rates remain low though with the diminished number of homes for sale in New Albany, we may begin to show signs of prices rebounding in 2012. Call us to discuss your particular New Albany real estate situation. The chart below is the Year End results for the major neighborhoods in New Albany, Ohio. If your community is not included, just let us know. We will send you the comparable information for your neighborhood.

 

New Albany 2011 Year End Review

Neighborhood Active
Listings
In
Contract
Sold 4th
Qtr 2011
Sold
2011
Sold
2010
Ave
$/Sq Ft
Ave
DOM
The Preserve 11 3 4 26 27 $104 85
Albany Park 5 1 13 5 $98 59
Windsor 4 5 5 13 12 $100 91
Hampsted 7 5 15 55 29 $113 65
NA Links 10 4 11 51 40 $115 90
New-CCollege* 5 1 5 14 8 $123 140
NACC < $1M** 22 12 13 89 74 $153 119
NACC > $1M 12 3 4 18 16 $199 161
Tot Plain Local
School District 100 44 75 344 274 $125 121
* Includes Tidewater, Saunton, Enclave and Wentworth
** Includes NACC and The Reserve

2012 could be your year to make a move… let us be part of it! Stay in touch and we’ll do the same! 

New Albany Real Estate Market Report for January

The last few weeks of 2011 proved to be a rather successful time for New Albany area home sellers, as evident by the most recent real estate data from Trulia.

Continue reading to learn more about the latest market trends in New Albany, Ohio and how it may affect you as a home seller.

New Albany Properties for Sale

Here’s an overview of the current state of the New Albany real estate market:

  • Currently there are 115 resale and new homes on the market, a historic low in New Albany School District.
  • Between October and December, the median sales price for homes in the New Albany School District was $422,800 which is up from the same period last year.
  • Here’s how nearby cities stacked up during that same period in terms of average sales price:
    • Gahanna Jefferson: $190,000
    • Westerville:  $178,500
    • Olentangy: $323,000
    • Dublin: $311,300
    • Upper Arlington:  $297,000
    • Bexley: $78,800
  • During the year ending December 31, the average listing price for New Albany homes was $554,500.

New Albany Homes for Sale

Knowing what homes are being listed for and what homes are selling for is just the tip of the iceberg when it comes to housing market activity.

For a more comprehensive overview of the current state of the New Albany real estate market – as well as where it’s headed in 2012 – contact us, Kate & Tony Thomas.

We’ll be happy to provide you with our expert advice on how to navigate the market as well as answer any questions you may have.

Until next time,

Kate & Tony

New Albany, Ohio Real Estate Market Report for November 2011

The New Albany, Ohio real estate market saw a lot of changes during the last couple of months, according to the most recent data from the real estate website Trulia.

Evidently, both home sales and home sales prices have been on the rise lately.

Continue reading to learn more about the latest trends on the New Albany housing market, and how they may affect you as a New Albany home buyer.

New Albany Homes for Sale

Here’s an overview of the current state of the New Albany real estate market based on recent market data:

  • Currently there are 286 homes for sale.
  • Between August and October 2011, the median sales price for a New Albany home was $305,000, which represents an 18.4 percent increase when compared to the same period last year.
  • Last year, the median sales price was $257,500.
  • During the week ending on November 2, the average price per square foot for a New Albany property was $157, which represents a 33.1 percent increase when compared to last year.
  • During that same week, the average listing price for homes was $394,553, which is a 1.8 percent decrease when compared to the week before.
  • Here’s how nearby markets stacked up in terms of average listing prices during that same week:

– Gahanna, Ohio: $195,597
-Westerville, Ohio: $246,323
-Pataskala, Ohio: $188,683
-Whitehall, Ohio: $109,092
-Reynoldsburg, Ohio: $138,261

This recent market data suggests that now is a great time to be a New Albany home buyer.  As the number of home sales continues to rise, so will sales prices.

Thus, if you’re looking to get a great deal on a New Albany property for sale, then we recommend you enter the market soon.

Investing in Real Estate

As your New Albany real estate experts, we believe that knowledge is power.  That’s why we work hard to provide interested home buyers with the most up-to-date market information each month.

That way you have a realistic and comprehensive view of the current state of the market, which will ultimately make you a savvier home buyer.

If you’d like to learn more about how we make navigating the market easier for New Albany home buyers every day, contact us, Kate and Tony Thomas, today.

We’ll be happy to answer any questions you might have as well as provide you with such helpful real estate tools as:

Until next time,

Kate & Tony

New Albany Home Prices Stabilizing

New Albany Country Club Homes Prices Hold

Sale prices of homes in the New Albany Country Club community seem to have leveled out.  2012 prices remain equal to 2009 and 2010.  One of the gauges we use to evaluate sales trends is $ per Square Foot.  If you look at the past 3 years, the average sales price for real estate in the New Albany Country Club area has been ~$162/square foot.  While this is significantly less than the peak of $197/sq foot that we saw in 2006, it’s encouraging that we appear to be bouncing along what I believe is the bottom of the market.

Historical Look at New Albany Country Club Sales in $/Square Foot

The graph below illustrates why many real estate experts refer to the time between 2000 – 2010 as the “Lost Decade”.  Home prices in the New Albany Country Club community are actually slightly below the prices we saw in 2000.

 Is Now A Good Time To Sell?

Prices show no sign of going either up or down right now.  When they start to head back up, it’s unlikely that they will take a giant leap.  With few exceptions, in an average year, the Greater Columbus real estate market goes up 3%.  At 3% a year, it will take almost 7 years before we see 2006 prices once prices do begin to rebound.   If now is the time for you to upsize, down size, or just move because you don’t want to redecorate the home you are in, then you should do it.    Homes ARE selling and mortgage rates are at 60 year lows.  Let us know if you’d like Tony or I to assist you with your decision.  We offer confidential and complementary market evaluations of your home to enable you to make the best decision for you and your family.  Call or email us today.

Sign up to receive our blog.  Find Us on Facebook.  Search the MLS yourself.

Franklin County Property Appraisals Released Today

Check your mail for your new home valuation!

We know property values have fallen since the last county-wide appraisals were done in 2005 but just how much?  You’ll know soon.  The Franklin County Auditor’s office is mailing the new valuations today!  It’s unprecedented and will be interesting to see what they look like.  While the auditor reports that Franklin County property values are down 6.7% from 2005, I expect to see a deeper decline in the New Albany valuations.

What if you don’t agree with the new valuation?

If you disagree with the new value established by the Franklin County auditor, you can present your case directly to county appraisers at informal value reviews held around the county beginning August 31st.  For a complete list of dates and locations for these meetings, visit the Franklin County Auditor site.  The New Albany community meeting will be held on September 8th at the Church of the Resurrection Ministry Center at 6300 E Dublin Granville Road in New Albany from 11 a.m. to 7 p.m.

Contact Kate or Tony if you have any real estate questions would like us to provide local market information to help you prepare for your meeting.   Good luck!

Visit www.NewAlbanyOhio.com to search the MLS and get up-to-date New Albany and Franklin County real estate information.

Lunch with Snoopy

The Thomas Team had a great luncheon meeting with our lender partner, Scott Miller of Met Life Home Mortgage, and his team yesterday at their new corporate digs. The focus of the meeting was for our team to get a complete understanding of the new world of home loans and the process from application to funding. To quote an old song from my youth “It Don’t Come Easy” . There are lots of new of steps and lots of different hand offs, gates and gate keepers. “Rushing” any deal these days is all but impossible as the banking industry is still reeling from the sub prime mess.

 Mac & Mae

At the end of the day, 90% of all loans come through the federal entities Freddy Mac and Fannie Mae. So even if you are going to get your loan through Acme Savings & Loan or Ginormous National Bank, at the end of the day the money and the thumbs up or down are tied to Mac and Mae. That’s because Acme and Ginormous sell their loans to Freddy and Fannie, and while they once took in any ‘ole kinda loan like a lost puppy, they are now very picky.

Automatic Underwriting

We learned that all loan apps go through an automated desktop underwriting system. Using this system, the loan officer can make a determination if the loan has a chance of meeting the guidelines issues by Freddie and Fannie. The answer can be had in as little as 60 seconds. Now this is true IF the borrower has provided the loan officer all the info necessary, and that’s often a big IF.

Knowledge is Powerful Stuff

The Thomas Team now knows the ins and outs (okay, we now have a better understanding) of the new world of loan application, process and approval. We can better advise our Buyers and Sellers as to what they can expect and we can assist our lending partner in meeting and exceeding client’s expectations. At the end of the day, it’s really about doing business with people of integrity and expertise who value you and your clients. We highly recommend Scott Miller (smiller5@metlife.com) and his team at Met Life (Snoopy).

Thomas Times Summer 2011 eNewsletter

 

 

The Thomas Times eNewsletter

Summer 2011

        

Featured Homes

 

$892,000

7693 Sudbrook Sq.

 Fenway ~ NACC

 

$599,900

4541 Neiswander Sq.

 North of Woods ~ NACC

  

$349,900

4913 Meadway Dr

 Hampsted Village

 

See All Featured Homes

Search the MLS

Read Our Blog

A Summer of Change

Every Realtor should have to experience selling their own home in order to fully understand and remember the challenges a seller faces when selling their home.  Tony and I are in the midst of selling ours after 15 years in the same place!  The listing process was painful – staging, cleaning, and frequently being the bridesmaid instead of the…(read more)

A Paraprosdokian

A paraprosdokian is a figure of speech in which the latter part of a sentence or phrase is surprising or unexpected in a way that causes the reader or listener to reframe or reinterpret the first part. It is frequently used for humorous or dramatic effect, sometimes producing an anticlimax. For this reason, it is popular among comedians and satirists.  These “paraprosdokians” were forwarded to me by …(read more)

New Albany Real Estate is Back!

All we can say is Wow!  Sales of New Albany real estate continues strong and bucking the trend in Greater Columbus.  For the first half of 2011, unit sales of single family homes are up 20% over same time last year.  Unit sales in the Greater Columbus area are down 15% for the same time frame. Will it continue? The number of homes “in contract” at the end of June are up 50% …(read more)

Kate’s Favorite Recipes-Summer Salad!

This is one of our favorite summer salads!  The recipe doesn’t call for grilling the corn but I think grilling it before cutting it off the cob adds great flavor.  Either way, it’s sure …(read more)

 

 

                     

 

  http://www.facebook.com/#!/pages/New-Albany-Ohio-Real-Estate/235206276825

     Kate & Tony Thomas, New Albany Realty                                 www.NewAlbanyOhio.com

    220 Market Street, Ste D, New Albany, OH 43054                     info@NewAlbanyOhio.com

    Find us on Facebook!                                                                       614.939.1234

 

 

New Albany Real Estate Stats – Mid Year

New Albany Real Estate is Back!

All I can say is Wow!  Sales of New Albany real estate continues strong and bucking the trend in Greater Columbus.  For the first half of 2011, unit sales of single family homes are up 20% over same time last year.  Unit sales in the Greater Columbus area are
down 15% for the same time frame.

Will it continue?

The number of homes “in contract” at the end of June are up 50% over last year which leads me to believe that the New Albany trend will continue into the 3rd quarter.  These stats are pretty amazing considering the inventory of homes available for sale in New Albany is down 23% over this time last year.  Sustainability of the trend will depend on if we can rebuild the inventory of homes available for sale.   If you’ve been thinking about selling but have been holding back, it looks like now is the time to
get into the market!   Call Kate or Tony Thomas today!

 

 

Neighborhood Active In Sold Sold YTD Sold YTD Ave  
  Listings Contract June’11 2011 2010 $/Sq Ft DOM
The Preserve 12 3 3 14 15 $103 86
Albany Park 6 1 4 10 2 $97 66
Windsor 3 3 0 7 5 $116 118
Hampsted 24 5 5 23 13 $115 66
NA Links 25 11 2 23 16 $113 118
New-C College* 8 2 2 4 4 $118 222
NACC < $1M** 48 20 11 44 39 $151 124
NACC > $1M 24 1 5 10 10 $206 154
               
Tot Plain Local School District 194 61 37 163 136 $128 112
               
*    Includes Tidewater, Saunton, Enclave and
Wentworth
     
**  Includes NACC and The Reserve          

 

Sunny Skies Should Continue in New Albany, Ohio

Home Sales Up 29% YTD in New Albany

I just pulled the Year-to-date statistics for home sales in New Albany and was very pleasantly surprised at how strong they are.  Through May, 2011, 124 single family homes have sold in the New Albany Plain Local School District versus 96 sold through May in 2010.  This is a remarkable 29% increase in homes sold this year over last.  TY/LY sales for the Greater Columbus area are down 16%.

Need Homes to Sell to Sustain Trend

With this leap forward in home sales, and a large inventory of homes currently in contract, New Albany is positioned to have a truly excellent year.  The only stumbling block that I see right now is if the low number of homes for sale is not replenished.  Inventory levels are off significantly.  In order to sustain the current trend, it’s time for the “don’t have to sell, but want to sell” sellers to re-enter the market.   If you fit that description or are a “have to sell” seller, then we want to talk with you!  Call or email us today.