The November 2010 survey of the Intown Atlanta North markets had three of the submarkets experiencing an increase in Average Sales Price. Inman Park, Midtown, Morningside and Poncey Highland were markets that saw a decline in the Average Number of Days on the Market. Midtown was the only market to have an increase in the Number of Units Sold over the last 12 months. Midtown was also the only neighborhood that had an increase in Annual Sales Volume in the last year.
Here is a market by market review of our November survey:
Ansley Park had a 2% increase in Average Sales Price from $948,446 in 2008-09 to $967,537 in 2009-10. The change since November’08 was minus 10%. The Average Days on the Market was up to 209 from 107 last year, an increase of 95%. The Number of Units Sold was down by 8% from 24 to 22 over the last 12 month period. Two years ago 24 properties sold in Ansley Park. Annual Sales Volume for the year ending October 2010 was $21,285,814. This number represented a decline of 6% over the last 12 months and 18% over the last 24 months.
Inman Park’s Average Sales Price of $445,408 reflected a 2% decrease over last year’s average and a drop of 11% from 24 months ago. The Average Number of Days on the Market decreased by 9% to 71 days over the last year. However, 24 months ago, the average time on the market in Inman Park was 75 days. For the year ending this October, 23 properties had closed, down two transactions from last years total and a decline of 21% over the figure from 24 months ago. Annual Sales Volume over the last 12 months totaled $10,244,384, a 10% decrease over the October ’09 number and 30% less than the October 2008’s total.
The Average Sales Price in Midtown as of October 2010 was $491,424. This average was 1% more than a year ago and 16% less that the average for October ’08. The Average Number of Days on the Market decreased to 61 in the last year, down 18% from October ’09. The Number of Units Sold over the last year was 34, up 70% over the last 12 months and 26% from October ’08. The Annual Sales Volume in Midtown was $16,708,416, up 72% from last October and up 5% from October 2008.
Morningside had an Average Sales Price of $559,316, a fall of 11% over the last year and 17% over the last 24 months. The Average Number of Days on the Market in Morningside fell to 85 days from 88 days in the last year, a decrease of 3%. 110 properties sold in the last 12 months, an increase of 3% from the 107 units that sold in the prior 12 months and down 29% from 24 months ago. Annual Sales Volume was $61,524,760, 8% less than last year and 41% less than October 2008’s number.
Poncey Highland experienced a 24% increase in Average Sales Price from $406,663 to $502,250. The Average Number of Days on the Market fell 58% to 62 days down from 148 days a year ago. Four properties sold in the last 12 months, a drop of 33%. Two years ago 5 units sold. Total Sales Volume between November ’09 and October ‘10 was $2,009,000, a fall of 18% over the year and an increase of 4% over the last 24 months.
The Average Sales Price in Virginia Highland was $506,191, a 13% decline over the last year and a fall of 24% since 2008. The Average Number of Days on the Market rose to 81 days from 75 days in October ’09, an 8% increase. 80 properties sold in the market over the last 12 months, a 6% increase. Two years ago, 85 properties sold in Virginia Highland. Total Sales Volume was $40,878,280, a decrease of 6% since October ’09 and a drop of 28% since October 2008.
Our next report will cover the Central DeKalb cities of Avondale Estates, Decatur and Pine Lake.