If 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
Tony and I returned from vacation on Sunday. On Monday, I tackled a mountain of mail being held by the post office. The item I was most interested in was the notice from Joe Testa’s office (Franklin County Auditor) announcing the proposed valuation of our home for 2008. Yours was probably just like mine – it shows no increase in valuation from 2007.
2008 is the year for the triennial update of property valuation in Franklin County. While we saw gains in the local real estate market in both 2005 and 2006, we’ve basically given it all back in 2007 and 2008. As a result, property valuations will remain at their previous level rather than increase as they usually do every 3 years. This should mean a zero tax increase for homeowners. However, New Albany has several levies on the ballot in November which will raise taxes slightly but the increase will be based on the valuations set 3 years ago.
Because there have been some dramatic shifts in the real estate market, you may still feel that your home is overvalued. If so, there is an opportunity to meet with representatives from the auditor’s office during the next month to discuss your valuation or to petition for a reduction in your home’s valuation. The review in New Albany will take place Thursday, August 28th at Church of the Resurrection, 6300 E Dublin Granville Road, New Albany, 2pm – 8pm. Call the auditor’s office at 614-462-4663 to schedule a time for your review.
Please let us know if you would like our office to provide you comparable sales information that you might use to justify a reduction. We are happy to do that as a service to our clients as well as to those who may become new clients some day! You can call me at 614-939-8945 or by email at email@example.com.
You need to call Kate & Tony Thomas!
If you’ve been thinking about building a new home in New Albany, now is your chance! The New Albany Company is soon to announce the creation of the New Albany country club’s newest community – Ackerly Park. Ackerly Park will be an extension of Upper Fenway with Ackerly Farm road extending north and meeting up with Market Street. The majority of the 27 lots will be priced between $150,000 and $165,000 and range in size form .29 – .42 acres.
New Albany Realty will be kicking off the sale of the new lots with a preview event May 14, 2008. This is an “invitation only” event. If you are interested in receiving an invitation to attend the event and learn more about the lots available at Ackerly Park, please email me at firstname.lastname@example.org.
Whether you plan to buy or not, it’s nice to be “in the know!”
Kate & Tony have sold more Hampsted Village Homes than the next 6 REALTORS® combined!
When it comes to their business goals, Kate & Tony have a shared vision: client comes first, excellence is the standard, and integrity is key. Setting them apart are cutting edge marketing advantages like the custom-designed site, www.newalbanyohio.com with a satellite mapping tool to dynamically plot neighborhoods. The results speak for themself. If you need your home sold in Hampsted Village in 2008 – you need to call Kate & Tony!
Hampsted Village Listings Sold Since 2000:
* Based on listings sold 2000-2007 per the Columbus Board of REALTORS® MLS. Click here for a brief tour of Hampsted Village!
As I was reading the “Business Page” of the Columbus Dispatch on Tuesday, I was struck once again, with how totally local real estate actually is. The article I was reading indicated that the decline of sales in Columbus was not as bad as those reported by the Ohio Association of Realtors for the entire state of Ohio. I decided to take it one step further and look at New Albany specifically. The Ohio Association of Realtors reported that sales declined by 9.6% in Ohio and the Columbus Board of Realtors reported a 5.8% decline in home sales in February. New Albany unit sales in February were actually up slightly over 2007 and year to date are only 2 units off the 2007 pace. I’m not saying that we have seen the end of this challenging market but there is some good news and I think it’s important to share it!