Our July 2010 survey of the Atlanta in DeKalb markets showed that five of the seven markets experienced year over year increases in value. Druid Hills, Edgewood and East Lake were the only neighborhoods with a positive trend in the Average Days on the Market category. Kirkwood was the only neighborhood to suffer a decrease in the Number of Units Sold over the past year. Five of the markets had year over year increases in sale volume.
Here is a recap of the individual markets.
Candler Park had an Average Sales Price of $402,320 which reflected a year over year decline of 12% and a decline of 12% since June 2008. The Average Number of Days on the Market increased to 100 days, a year over year increase of 37% and a two year increase of 100%. The Number of Units Sold increased from 42 to 47 over the last year, a 12% increase. Sales Volume in the 12 months ending in June was $18,909,040, which was down 1% over the last year and down 12% from two years ago.
Druid Hills’ Average Sales Price increased 6% over the last year from $557,626 to $590,392. However, it was down 9% from the figure for the year ending in June of 2008. The Average Days on the Market in Druid Hills was down to 86 days from 87 a year ago and 63 two years ago. 63 properties sold in this market in the last 12 months. This number was up from 55 in the last 12 month period and down from the 73 units that sold two years ago. Annual Sales Volume was $37,194,696, a 21% year over year increase. It was 22% less than the period from July ’07 to June ’08.
The Average Sales Price in East Atlanta was $189,205 in the last 12 months, an increase of 5% in the last 12 months. The Average Number of Days on the Market this year was 77 days, up from 68 days last year and 69 the year before. East Atlanta had 124 sales in the last 12 months a 23% increase over the year ending June ’09 and 9% less than the Number of Units Sold in the year ending in June ’08. Annual Sales Volume was $23,461,420, up 29% over the last year but down 24% from the 12 months ending June ’08.
East Lake had an Average Sales Price of $202,684 which is a 5% decrease in value over the last year and 14% decline over the last 24 months. The Average Days on the Market fell to 52 days from 74days, a 30% decrease in time on the market. 50 properties closed in the last twelve months this was up from 41 units in the year ending in June ’08.
Annual Sales Volume in East Lake was $10,134,200 which was a 16% increase form last year’s figure of $8,713,689 and a 24% drop since June 2008.
The Edgewood market experienced a 9% increase in Average Sales Price over the last 12 months going from an average of $143,243 in ’09 to $155,555 in ’10. This number is still 8% less than what it was in ’08. The Average Days on the Market was unchanged at 73 days over each of the last two years. Edgewood had a 6% increase in the Number of Units Sold, from 48 to 51 over the last 12 months. The one year period ending June ’08 had 49 sales. The Annual Sales Volume was $7,933,305, a 15% increase over ‘09’s number and 4% less than 2008’s Annual Sales Volume.
Kirkwood experienced a 2% increase in Average Sales Price going from $218,619 in 2009 to $223,969 this year. In 2008, the Average Sales Price in Kirkwood was $251,493.
The Average Number of Days on the Market jumped to 87 days from 59 days last year and 71 days the year before. The Number of Units Sold fell 15% over the last year from 152 to 129. In 2008 134 properties sold in Kirkwood. Annual Sales Volume was $28,892,001 this year, a decline of 13% from last year and 14% less that 2008.
Lake Claire’s current Average Sales Price is $394,965, down 11% from last year’s number of $441,458. The Average Number of Days on the Market increased by 33% over the last year from 66 days to 88 days. In 2008 this number was 64 days. In the last 12 months 36 properties sold in Lake Claire, up 44% from ’09. Two years ago, 47 properties sold. Annual Sales Volume was up 29% over the last 12 months from $11,236,450 to $14,218,740. In 2008, Lake Claire had a sale volume of $21,705,362, 53% more than 2010.
Our next posting will cover the Intown Atlanta North markets.