Our March 2011 Intown Atlanta Market Survey measures market activity and changes for the residential real estate market as a whole from March 1, 2008 to February 28, 2011.
The Average Sales Price for the 12 months ending February 28, 2011 nudged up slightly from $303,588 last month to $304,339, a .24% increase. The Average Sales Price was down 14% from last February’s number of $355,693. On February 28, 2009 the Average Sales Price was $388,036, almost 27% higher than today’s average
Average Number of Days on the Market was 83 days over the last 12 months. It was only 81 days in 2009-10. In 2008-09, the Average Number of Days on the Market was 79days. Thus, over one year, the average was up 3% and the two year change was an increase of 6%.
The Number of Units Sold during last 12 months was 1,508, while in the 12 months ending February 28, 2010, 1,485 units sold. In 2008-09 1,710 units sold. The one year change was up by 2% and over two years the number of sales was down 12%.
Annual Sales Volume for the last 12 months of 2010-11 was $458,942,780 compared to $476,553,169 in ’09-‘10 and $544,594,306 in 2008-09. The one year change was a negative 4% and the two year change was negative 16%
The month’s survey contained some positive news. Compared to our report last month; Average Sales Price, Number of Units Sold and Sales Volume were all up slightly. The “year over year” numbers were still very negative, although “less negative” than in past months. We have experienced several false starts on the road to recovery over the last few years and this may yet turn out to be another one. We will see if the “positive” trend holds over the next few months.
Our next report will examine the Intown South market