The May 2009 Atlanta Intown Market Report contains some positive signs as well as some negative indicators. On the plus side, May’s year over year overall Average Sales Price rose 4.8% over last month’s Average Sales Price. From $381,786 in April to $400,074 this month. On the negative side, the Average Number of Days on the Market increased from 77 in April to 82 in May an increase of 6.5%. Also continuing a negative trend, the year over year Number of Units Sold fell from 1,644 in April to 1,615 in May, a 1.8% decline. On a positive note, year over year Sales Volume for the markets covered in the survey, adjusted for the addition of a new market, Decatur Heights, was up by .67% from $508,740,815 in April to $512,151,686 in May.
When the numbers from the last 12 months are compared to those of the 12 months prior to May 2008 the results are all negative. Average Sales Price is down 11% from $448,861 in 2007-2008 to $400,074 in 2008-2009. The Average Days on the Market increased from 80 to 82 or 3%. The Number of Units Sold dropped from 1,875 in 2007-2008 to 1,615 in the last 12 months.
Overall Sales Volume for the Intown Atlanta market fell by 26% from $698,420,431 to $520,321,447.
Our next posting will cover the Intown South Markets.