In our December 2010 survey of the Tri-Cities markets, College Park was the only market that had a year over year increase in Average Sales Price. East Point was the only market that had a year over year decline in Average Number of Days on the Market. None of the markets had an increase in the Number of Units Sold. College Park was the only market to show an increase in Annual Sales Volume.
Here are the results from our December 2010 Market Survey for the Tri-Cities:
College Park had a 26% increase in Average Sales Price from $117,382 in 2008-09 to $148,621 in 2009-10. Since 2007-08, the Average Sales Price was down 31%. The Average Number of Days on the Market was up from 98 to 132 or 35% over the last two years. The Number of Units Sold fell from 60 units to 56 units in the last 12 months. The Annual Sales Volume in College Park was up by 18% from $7,069,920 to $8,322,776 over the last 12 months and down 37% over the last 24 months.
The East Point market had a tiny decrease in Average Sales Price from $57,129 to $57,061 in the last year. Going back 24 months, East Point experienced a 35% decrease in Average Sales Price. The Average Number of Days on the Market went from 87 to 82 or a 6% drop. The Number of Units Sold decreased from 234 in ’08-‘09 to 205 in ’09-‘10, a decline of 15%. Annual Sales Volume in East Point had a 12% drop from $113,368,186 in 2008-09 to $11,697,505 in 2009-10. Over the last 24 months, Annual Sales Volume was off 46% in East Point.
Hapeville’s Average Sales Price was down from $95,231 in 2008-09 to $89,595 in 2009-10 or 6%. The decline in Average Sales Price from 2007-08 to today was 24%. The Number of Days on the Market increased from 79 to 111 or 41%. Over the last 24 months, the average Number of Days on the Market increased by 12%. The Number of Units Sold fell from 30 to 27 properties per year over the last two 12 month periods. In the period November 2007 to October 2008, 38 properties sold. Annual Sales Volume dropped by 15% from $2,856,930 to $2,419,065 over the last year. Over the last 24 months, Hapeville’s Annual Sales Volume is down by 46%.
HAPPY NEW YEAR!