In our December ’09 survey, all of the Intown South neighborhoods had a year over year decline in Average Sales Price. Grant Park was the only market with a decrease in the Number of Days on the Market. Ormewood Park was the only neighborhood showing a growth in the Number of Units Sold and Annual Sales Volume in all of the Intown South markets was off over the last twelve month ranging from 9% in Ormewood Park to 34% in Cabbagetown

Here is a market by market analysis for December 2009:

Cabbagetown’s market experienced a 10% drop in Average Sales Price from $242,760 in ’07-’08 to $219,590 in ’08-’09. The Average Number of Days on the Market grew from 35 to 92, an increase of 163%. The Number of Units Sold was down by 27% from 15 to 11. Annual Sales Volume fell from $3,641,400 to $2,415,490, a drop of 34%.

The Grant Park market had 1% decrease in Average Sales Price over the last 12 months going from $259,679 to $257,861. Average Number of Days on the Market decreased from 89 days to 83 days, a 7% drop. The Number of Units Sold fell by 24% from 124 in ’07-’08 to 94 in ’08-’09. Annual Sales Volume in Grant Park was off by 25% from $32,200,196 in ’07-’08 to $24,238,934 in the last year.

Ormewood Park’s Average Sales Price was down 11% in the last year, from $241,590 to $214,401. The Average Number of Days on the Market was up from 61 days to 70 days or 15%. The Number of Units Sold increased by 3% from 69 to 71 and Annual Sales Volume fell by 9% with $16,669,710 in ’07-’08 to $15,222,471 in ’08-’09.

The Reynoldstown market had a 9% decline in Average Sales Price, from $241,094 to $183,594 over the last year. The Average Number of Days on the Market increased by 16% from 64 to 75. The Number of Units Sold fell by 33% from 40 in ’07-’08 to 27 in ’08-’09. Annual Sales Volume in Reynoldstown was off by 39% from $8,083,760 to $4,957,038 in the last twelve months.

Our next posting will cover the Atlanta in DeKalb markets.