The February 2011 survey of the Intown Atlanta North markets had two markets, Ansley Park and Inman Park, experiencing an increase in Average Sales Price. Inman Park, Midtown, Virginia Highland and Morningside were markets that saw a decline in the Average Number of Days on the Market. Ansley Park, Morningside, Midtown, Poncey Highland and Virginia Highland were markets that experienced an increase in the Number of Units Sold in 2010-11. Ansley Park, Midtown, Virginia Highland and Poncey Highland were neighborhoods that had an increase in Annual Sales Volume in the last year.
Here is a market by market review of our February survey:
Ansley Park had a 5% increase in Average Sales Price from $897,074 in 2009-10 to $943,534 in 2010-11. The change since January 2009 was a negative 4%. The Average Days on the Market was up to 204 from 104 last year, an increase of 96%. The Number of Units Sold was up to 24 sales from 23 sales in 2009-10. Two years ago 19 properties sold in Ansley Park. Annual Sales Volume for the year ending January 2011 was $22,644,816. This number represented an increase of 10% over the last 12 months and 21% over the figure from 2008-09.
Inman Park’s Average Sales Price of $470,609 reflected an 8% increase over last year’s average and a drop of 20% from 24 months ago. The Average Number of Days on the Market decreased by 1% to 77 days from 78 days last year. In 2008-09, the average time on the market in Inman Park was 89 days. For the year ending in January 2011, 22 properties had closed, down 19% from last year’s total and a decline of 21% over the figure from 24 months ago. Annual Sales Volume in 2010-11 totaled $10,353,398, a 12% decrease over 2009-10’s number and 38% less than 2008-09’s total.
The Average Sales Price in Midtown as of December 2010 was $470,904. This average was 12% less than a year ago and 28% less that the average for January 2009. The Average Number of Days on the Market decreased to 54 in the last year, down 29% from 2009-10. The Number of Units Sold over the last year was 32, up 78% over the last 12 months and down 9% from ’08-‘09. The Annual Sales Volume in Midtown was $15,068,928, up 57% from last year and down 34% from January 2009.
Morningside had an Average Sales Price of $572,171, a fall of 8% over the last year and 14% over the last 24 months. The Average Number of Days on the Market in Morningside fell to 83 days from 96 days in the last year, a decrease of 14%. 110 properties sold in the last year, an increase of 2% from the 108 units that sold in 2009-10 and down 38% from 24 months ago. Annual Sales Volume was $62,938,810, 6% less than last year and 46% less than 2008-09’s number.
Poncey Highland experienced a tiny decrease in Average Sales Price from $402,625 to $400,791. The Average Number of Days on the Market increased 24% to 72 days up from 58 days a year ago. Six properties sold in 2010-11 compared to 4 in 2009-10. Total Sales Volume in the last year was $2,404,746, a rise of 49% over the year and a decrease of 49% over 2008-09’s number of $4,733,300.
The Average Sales Price in Virginia Highland was $494,555, a 12% decline over the last year and a fall of 24% since 2008-09. The Average Number of Days on the Market decreased to 80 days from 81 days in 2009-10, a 1% decrease. 89 properties sold in the market over the last 12 months, a 20% increase. Two years ago, 103 properties sold in Virginia Highland. Total Sales Volume in the last year was $44,015,395, an increase of 5% since ’09-‘10 and a drop of 34% since January 2009.
Our next report will cover the Central DeKalb cities of Avondale Estates, Decatur and Pine Lake.