In our February 2011 survey of the Atlanta in DeKalb markets, East Atlanta and East Lake experienced year over year increases in Average Sales Price. Three of the neighborhoods had a decrease in Average Days on the Market. Druid Hills and Lake Claire had an increase in the Number of Units Sold in the last year. These same neighborhoods, plus East Lake, also experienced an increase in Sales Volume over the last 12 months.
Here is a recap of the Atlanta in DeKalb individual markets:
Candler Park had an Average Sales Price of $394,358 which reflected a year over year decline of 7% and a decline of 9% since January 2009. The Average Number of Days on the Market fell to 76 days, a year over year decrease of 32% and a two year increase of 27%. The Number of Units Sold decreased from 47 to 34 over the last year, a 28% decrease. Sales Volume in the 12 months ending in January 2011 was $13,408,172, which was down 32% over the last year and down 31% from 2008-09’s number.
Druid Hills’ Average Sales Price decreased 13% over the last year to $523,223 from $599,391. It was down 17% from the figure for the year 2008-09. The Average Days on the Market in Druid Hills was up to 105 days from 88 a year ago and up from 83 two years ago. 60 properties sold in this market in the last 12 months. This number was up from 51 in 2009-10 and down from the 83 units that sold in 2008-09. Annual Sales Volume was $31,393,380, a 3% year over year increase. It was, however, 39% less than 2008-09’s sales volume.
The Average Sales Price in East Atlanta was $183,299 in last 12 months, an increase of 5% in the last year. The Average Number of Days on the Market this year was 69 days, down from 75 days last year and up from 61 the year before. East Atlanta had 91 sales in the last 12 months a 21% decrease over the year ending January’10 and 35%less than the Number of Units Sold in the year ending in January 2009. Annual Sales Volume was $16,680,209, down 17% over the last year and off 42% from the 12 months ending January 31, 2009.
East Lake had an Average Sales Price of $210,841 which is a 7% increase in value over the last year and 3% decline over the last 24 months. The Average Days on the Market was 66 days, an increase of 38% over the last 12 months. 40 properties closed in 2010-11. This was unchanged from the year ending in January 2010. Annual Sales Volume in East Lake was $8,433,640 which was a 7% increase form 2009-10’s figure and a 37% drop since January 2009.
The Edgewood market experienced a 16% decrease in Average Sales Price over the last 12 months going from an average of $165,780 in ’09-‘10 to $138,470 in ’10-‘11. These numbers were down 8% from the average of $150,419 in ’08-’09. The Average Days on the Market was stable at 81 days over the last two years. Edgewood had a 26%decrease in the Number of Units Sold, from 47 to 35 over the last 12 months. The one year period ending January 2009 had 57 sales. The Annual Sales Volume was $4,846,450, a 38% decline over 2009-10’s number and 43% less than 2008-‘09’s Annual Sales Volume.
Kirkwood experienced a 2% drop in Average Sales Price going from $218,089 in 2009-10 to $213,274 in 2010-11. In 2008-09, the Average Sales Price in Kirkwood was $268,985. The Average Number of Days on the Market increased to 101 days from 64 days last year and 59 days in 2008-09. The Number of Units Sold fell 19% over the last year from 129 to 104. In 2008-09, 150 properties sold in Kirkwood. Annual Sales Volume was $22,180,496 in 2010-11, a decline of 21% from 2009-10 and 45% less than 2008-09.
Lake Claire’s current Average Sales Price is $411,196, up slightly from last year’s number of $410,762. The Average Number of Days on the Market was down over the last year from 89 days to 80 days. In 2008-09 this number was 59 days. In the last 12 months 44 properties sold in Lake Claire, up 83% from ’09-‘10. Two years ago, 48 properties sold. Annual Sales Volume was up 84% over the last 12 months from $9,858,288 to $18,120,784. In 2008-09, Lake Claire had a sale volume of $20,627,424.
Our next posting will cover the Intown Atlanta North markets.