A look at a few key metrics tell the story. New Albany real estate is on the rebound. While first portion of 2010 was driven by tax incentives and first time home buyers, we really just “borrowed” future sales from July and Aug to hit the June 30th deadline. We were really pretty flat through mid 3rd Quarter 2010. Then we had a good finish and pushed ahead of 2009 in these important areas:
In 2010, 302 homes closed in New Albany vs 272 the previous year.
The median sales price for homes sold in New Albany increaded from $283,000 in 2009 to $308,000 in 2010.
The median home in New Albany was on the market for 88 days in 2010 – in 2009, it was on the market 104 days.
Well if you are a Buyer trying to time the market (if you can do this, let me and my financial advisor know asap) we may well be seeing the bottom. If you are a Seller, you may be encouraged that the worst may be behind us. In any event, if you want to buy or sell a New Albany home, now is the time and Kate & Tony are the ones to help. Let us show you how Kate & Tony’s service and results make them the market leaders in New Albany Real estate.
P.S. You can also just search the MLS yourself to see how your home compares…
Lawrence Yun, chief economist for the National Association of Realtors, presented the NAR Forecast for 2010 real estate at the annual conference held in San Diego in November. His projections included the following good news: 13.6% increase in the sale of existing homes as well as a return to positive growth in home values as inventory levels continue to decline.
Although real estate markets vary widely from community to community and his forecast is a national one, we hope his projections will hold true for our local market in Columbus, Ohio. I for one am ready for some good news to share.
Unit sales of existing homes in New Albany, Ohio for the trailing 3 months (September, October, November) supports one of the projections made by Mr. Yun. 2009 Unit sales for those 3 months are up 20% over the same time in 2008. As reported in our November eNewsletter, inventory levels are down almost 15% over last year so hopefully, the sales prices will begin to stabilize and New Albany will begin to see positive growth in prices going forward.
Now is the time to consider your goals for real estate in 2010. If you are thinking about a larger home, a smaller home, or a move out of the area, please contact Tony or me to discuss your plans and how we can help you achieve your goals.
Initiated in 1999, the New Albany Classic Signature Series is a program of community-based activities presented each year in New Albany. Developed and supported by the New Albany Company, New Albany Realty, and the Wexner family through a grant to The New Albany Community Foundation, the series contributes to the quality of life for families in New Albany and surrounding communities by presenting events and activities that emphasize health and wellness, life-long learning, and concern for the greater good. The New Albany Classic Signature Series, now in its tenth season of exceptional programming, is proud to announce the 2008 schedule. The programs run from May through December and, each year, see traditions strengthened by the growth and pride of its residents and supporters. For more information call 614-416-7100.
Kate & Tony Thomas & New Albany Realty Host Free Hampsted Neighborhood Block Party!
On Tuesday, July 1st, from 6pm – 9pm, a Hampsted Village Block Party will be held at Hampsted Park (Meadway & Fodor Road)! Kate & Tony, along with New Albany Realty, are teaming up with Sunny 95 radio station to host a FREE neighborhood block party in Hampsted Village! It’s the ultimate get together for friends, family and neighbors! There will be music, great food, games for “kids” of all ages, and Sunny 95 personality appearances! There will be opportunities to win a “Passport to Paradise” family fun vacation along with numerous other give-a-ways.
EVERYTHING is FREE! Don’t worry about cooking dinner…that’s been taken care of! Just bring the whole family for free food, drinks, prizes and fun. There’s no need to RSVP, just show up Tuesday July 1st and be ready to have a good time!
Be sure to stop by the New Albany Realty tent to say Hi! and register for a $100 gift certificate to Easton. For a tour of Hampsted Village or to see Hampsted homes for sale, just visit www.NewAlbanyOhio.com.
We hope to see you there!