Our July 2010 Adams Realtors Intown South survey had the Grant Park and Ormewood Park markets continuing to improve when focusing on year over year results. Reynoldstown showed some improvement while the story in Cabbagetown was mostly still negative.
In Cabbagetown, the Average Sales Price over the last 12 months was $217,000; this number reflects a 9% decline in value over the last year and a 15% decrease in value over the last 24 months. However, $217,000 was the same number as in last month’s report which reflects some stability in that market. Average Days on the Market was 74 days, a 64% increase over the last year and a 124% increase over a two year period. In the last 12 months 12 properties sold in Cabbagetown, down from 13 in the 12 months ending in June 2009 and 21 during the 12 months that ended in June 2008. This represents a decline of 8% over the last year and 43% over the last 24 months. Sales Volume in the last year totaled $2,604,000, a fall of 16% over the prior year and 52% down from two years ago.
The Grant Park market had an Average Sales Price of $250,596. This number was less that 1% higher that the June ’09 figure and down 6% from the June ’08 average. The Average Number of Days on the Market was 74 days. This was down from 79 a year ago and 93 two years ago. 97 properties sold in Grant Park during the last 12 months. This represents a 21% increase from June 2009’s number of 80 and a drop of 32% from two years ago when 143 properties were sold. Annual Sales Volume for the most recent 12 month period was $24,307,812, a 21% increase over last year’s figure and 36% less than annual sales volume of $38,049,583 from two years ago.
The Average Sales Price in Ormewood Park was $218,214. This number reflected a decrease of 5% over the last 12 months and a drop of 12% over the last 24 months. The Average Number of Days on the Market in Ormewood Park was 59 days. Last year it was 64 days and the year before, the average was 58 days. The Number of Units Sold in the market for the 12 months ending June 2010 was 77 properties. This represented a 20% increase in the last year. Total Sales Volume was $16,802,478, a 15% increase over last year’s figure of $14,634,560 and a 17% increase over the June 2008 total of $14,406,446.
The Reynoldstown market had an Average Sales Price of $175,791 which represented a 2% increase from the ’09 figure of $173,166 and a 23% drop from the ’08 figure of $227,176. The Average Days on the Market fell to 43 days, a decrease of 36% over last year and 40% fall when compared to the average two years ago. 24 properties sold in Reynoldstown during the last year compared to 33 units the year before and 39 units in 2008. Sales Volume in this market was $4,218,984 for the 12 months that ended on June 30th. This was a drop of 26% from ’09 and 52% from ’08.
Our next report will cover the Atlanta in DeKalb markets.