In our April 2010 survey, all of the Tri-Cities markets experienced a year over year decrease in Average Sales Price. East Point and College Park, once again, had a decline in the Average Number of Days on the Market. Hapeville was the only market that had an increase in the Number of Units Sold. All of the markets suffered a decrease in Annual Sales Volume.
Here are the results from our April 2010 Market Survey for the Tri-Cities:
College Park had a 34% decrease in Average Sales Price from $178,613 in 2008-09 to $118,309 in 2009-10. The Average Number of Days on the Market fell from 121days to 115 days, a decrease of 5%. The Number of Units Sold dropped from 59 to 55 or 7%. The Annual Sales Volume in College Park was down by 38% from $10,538,167 to $6,506,995 over the last 12 months.
The East Point market had a 13% decline in Average Sales Price from $71,643 to $62,273 in the last year. The Average Number of Days on the Market went from 98 to 86 or a 12% drop. The Number of Units Sold decreased from 262 in ’08-‘09 to 202 in ’09-‘10, a decline of 23%. Annual Sales Volume in East Point had a 33% drop from $18,770,466 in 2008-09 to $12,579,146 in 2009-10.
Hapeville’s Average Sales Price was down from $120,109 in 2008-09 to $80,219 in 2009-10 or 33%. The Number of Days on the Market increased from 89 to 96 or 8%. The Number of Units Sold increased from 32 to 36, a rise of 13% and Annual Sales Volume dropped by 25% from $3,843,488 to $2,887,884 over the last year.