Is New Albany, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, New Albany has remained a Seller's Market.
Key Takeaway
New Albany is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Albany, OH
How much do homes in New Albany, OH cost?
Median Sold Price
$559,840
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in New Albany have sold for 20% less than they did a year ago.
Summary: The median home sold price in New Albany was $559,840 in March 2024, down 20% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $197K | +6.5% |
| 2 Bedrooms | $441.1K | $300K | -32.0% |
| 3 Bedrooms | $542.5K | $530.9K | -2.1% |
| 4 Bedrooms | $742.5K | $747.5K | +0.7% |
| 5+ Bedrooms | $1.3M | $1.2M | -1.7% |
Summary: New Albany housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.5%, 2 bedroom homes decreased by 32%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes decreased by 1.7%.
Median Sold Price Compared To Nearby Cities
| Plain Township | $705K | $807K | +14.5% |
| Jersey Township | $426.5K | $462.5K | +8.4% |
| Columbus | $259.8K | $278.8K | +7.3% |
| New Albany | $700K | $559.8K | -20.0% |
Housing Supply in New Albany, OH
How many homes are available in New Albany, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 83 | 109 | +31.3% |
Summary: The New Albany real estate market had 109 homes for sale in March 2024, a 31.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 8 | +33.3% |
| 2 Bedrooms | 24 | 25 | +4.2% |
| 3 Bedrooms | 16 | 22 | +37.5% |
| 4 Bedrooms | 22 | 35 | +59.1% |
| 5+ Bedrooms | 15 | 19 | +26.7% |
Summary: The New Albany housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 37.5%, 4 bedroom homes increased by 59.1%, and 5+ bedroom homes increased by 26.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 20 | +5.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Albany, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in New Albany in March 2024, up by 5.3% month-over-month. Of the 20 sold homes, 35% were sold under asking, 25% were sold at asking, and 40% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 17 Days | 18 Days | +2.9% |
Summary: Homes in New Albany had an average of 18 days on market in Mar 2024, up by 2.9% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in New Albany are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 20 homes were sold in New Albany; 85% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
The information is being provided by Columbus and Central Ohio Regional Multiple Listing Service. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. 
Copyright 2024 MLS Now. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Buyer to verify all information. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged.