In the January 2010 Adams Realtors Intown North Market Survey, Midtown was the only market that had a positive year over year increase in Average Sales Price. Ansley Park, Midtown and Poncey Highland were the only markets that experienced a fall in the Days on the Market category. Poncey Highland and Ansley Park were the only markets that did not suffer a drop in the Number of Units Sold and all of the markets experienced a decline in Annual Sales Volume.
Here are the results of our January 2010 survey of Intown North markets:
The Ansley Park market had a 9% decrease in Average Sales Price with an Average Sales Price of $990,973 in 2008 and $897,074 in 2009. The Average Number of Days on the Market fell from 115 to 104 or 10%. The Number of Units Sold was unchanged at 23 units in each of the last two years. Annual Sales Volume decreased by 9% from $22,788,239 in 2008 to $20,632,702 in 2009.
Inman Park’s Average Sales Price fell from $489,993 to $441,376, a decline of 10%. The Average Number of Days on the Market increased from 75 to 76, an increase of 1%. The Number of Units Sold was off by 14%, from 29 to 25. Annual Sales Volume in this market decreased from $14,209,797 in ’08 to $11,034,400 in ’09 or a drop of 22%.
Midtown’s Average Sales Price increased by 2%-$547,714 to $556,060. Average Days on the Market declined by 6% from 67 to 63 and the Number of Units Sold fell by 52% from 31 to 15 in the last 12 months. Annual Sales Volume was down by 51% from $16,979,134 to $8,340,900 over the last year.
Morningside had a 4% drop in Average Sales Price from $651,693 in 2008 to $625,872 in 2009. The Average Number of Days on the Market rose by 19% over last year from 78 to 93. The Number of Units Sold dropped by 29% from 146 in ’08 to 104 in ’09. Annual Sales Volume in Morningside fell from $95,147,178 to $65,090,688- a 32% decrease from last year.
The Poncey Highland market had a fall in Average Sale Price from $407,980 to $394,260, a decline of 3%. The Average Number of Days on the Market was down by 59% from 142 to 58 days. The Number of Units Sold was unchanged over the last two years at 5 units per year. Annual Sales Volume fell from $2,039,900 to $1,971,300, a decline of 3%.
The Virginia-Highland market experienced a 15% decline in Average Sales Price-$663,075 to $563,829. The Average Number of Days on the Market increased by 18% from 66 to 78 and the Number of Units Sold declined from 82 in ’08 to 78 in ’09, a decrease of 5%. Annual Sales Volume fell by 19% from $54,372,150 in 2008 to $43,978,662 in 2009.
Our next posting will cover the Central DeKalb cities of Avondale Estates, Decatur and Pine Lake along with five City of Decatur neighborhoods.