Is New Albany, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, New Albany has remained a Seller's Market.
Housing Prices in New Albany, OH
How much do homes in New Albany, OH cost?
Median Sold Price
$550,000
$214/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in New Albany was $550,000 in May 2024, down 9.5% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $186K | $201.1K | +8.1% |
2 Bedrooms | $305K | $300K | -1.6% |
3 Bedrooms | $505.7K | $531K | +5.0% |
4 Bedrooms | $745K | $688.7K | -7.5% |
5+ Bedrooms | $1.3M | $1.3M | -2.4% |
Summary: New Albany housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.1%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes increased by 5%, 4 bedroom homes decreased by 7.5%, and 5+ bedroom homes decreased by 2.4%.
Median Sold Price Compared To Nearby Cities
Plain Township | $720K | $799K | +11.0% |
Jersey Township | $410K | $455K | +11.0% |
Columbus | $262.2K | $279.7K | +6.7% |
New Albany | $607.5K | $550K | -9.5% |
Housing Supply in New Albany, OH
How many homes are available in New Albany, OH?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
116 | 126 | +8.6% |
Summary: The New Albany real estate market had 126 homes for sale in May 2024, a 8.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 6 | 0.0% |
2 Bedrooms | 21 | 18 | -14.3% |
3 Bedrooms | 28 | 31 | +10.7% |
4 Bedrooms | 35 | 39 | +11.4% |
5+ Bedrooms | 26 | 32 | +23.1% |
Summary: The New Albany housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 23.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
31 | 46 | +48.4% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 46 homes were sold or pending in New Albany in May 2024, up by 48.4% month-over-month. Of the 46 sold homes, 30% were sold under asking, 15% were sold at asking, and 54% were sold over asking.
Days on Market for New Albany, OH
How long does it take to sell a home in New Albany, OH?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
13 Days | 23 Days | +73.2% |
Summary: Homes in New Albany had an average of 23 days on market in May 2024, up by 73.2% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 46 homes were sold in New Albany; 72% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.