In our August 2010 survey of the Atlanta in DeKalb markets only three of the seven markets experienced year over year increases in Average Sales Price. East Lake was the only neighborhood with a positive trend in Average Days on the Market. Druid Hills, East Atlanta, East Lake, Edgewood and Lake Claire all experienced an increase in the Number of Units Sold over the past year. These same five markets also had year over year increases in Sale Volume.
Here is a recap of the individual markets.
Candler Park had an Average Sales Price of $400,437 which reflected a year over year decline of 11% and a decline of 12% since July 2008. The Average Number of Days on the Market increased to 102 days, a year over year increase of 34% and a two year increase of 104%. The Number of Units Sold decreased from 48 to 40 over the last year, a 17% decrease. Sales Volume in the 12 months ending in July was $16,017,480, which was down 26% over the last year and down 27% from two years ago.
Druid Hills’ Average Sales Price increased 2% over the last year to $589,480 from $578,469. However, it was down 9% from the figure for the year ending in July of 2008. The Average Days on the Market in Druid Hills was up to 90 days from 89 a year ago and 64 two years ago. 65 properties sold in this market in the last 12 months. This number was up from 54 in the last 12 month period and down from the 72 units that sold two years ago. Annual Sales Volume was $38,316,200, a 23% year over year increase. It was 18% less than the period from August ’07 to July ’08.
The Average Sales Price in East Atlanta was $191,301 in the last 12 months, an increase of 6% in the last 12 months. The Average Number of Days on the Market this year was 79 days, up from 68 days last year and 73 the year before. East Atlanta had 113 sales in the last 12 months a 6% increase over the year ending July ’09 and 12% less than the Number of Units Sold in the year ending in July ’08. Annual Sales Volume was $21,617,013, up 12% over the last year but down 24% from the 12 months ending July ’08.
East Lake had an Average Sales Price of $201,414 which is a 5% decrease in value over the last year and 15% decline over the last 24 months. The Average Days on the Market fell to 53 days from 68 days, a 22% decrease in time on the market. 48 properties closed in the last twelve months. This was up from 42 units in the year ending in June ’08.
Annual Sales Volume in East Lake was $9,667,872 which was an 8% increase form last year’s figure and a 26% drop since July 2008.
The Edgewood market experienced an 8% increase in Average Sales Price over the last 12 months going from an average of $145,212 in ’09 to $157,183 in ’10. This number is still 5% less than what it was in ’08. The Average Days on the Market edged up to 71 days from 70 days last year. Edgewood had a 19% increase in the Number of Units Sold, from 43 to 51 over the last 12 months. The one year period ending July ’08 had 51 sales. The Annual Sales Volume was $8,016,333, a 28% increase over ‘09’s number and 5% less than 2008’s Annual Sales Volume.
Kirkwood experienced a 1% decrease in Average Sales Price going from $219,513 in 2009 to $216,681 this year. In 2008, the Average Sales Price in Kirkwood was $250,062.
The Average Number of Days on the Market jumped to 91 days from 60 days last year and 71 days the year before. The Number of Units Sold fell 19% over the last year from 153 to 124. In 2008 131 properties sold in Kirkwood. Annual Sales Volume was $26,868,444 this year, a decline of 20% from last year and 18% less that 2008.
Lake Claire’s current Average Sales Price is $405,553, down 8% from last year’s number of $442,334. The Average Number of Days on the Market increased by 42% over the last year from 65 days to 92 days. In 2008 this number was 59 days. In the last 12 months 37 properties sold in Lake Claire, up 42% from ’09. Two years ago, 45 properties sold. Annual Sales Volume was up 30% over the last 12 months from $11,500,684 to $15,005,461. In 2008, Lake Claire had a sale volume of $20,525,940.
Our next posting will cover the Intown Atlanta North markets.