The April 2010 Adams Realtors Intown Market Survey covering the Intown Atlanta Residential Market had a slightly positive tone. For the 12 month period from April 2008 to March 2009, the Average Sales Price was $382,517. From April 2009 to March 2010 the Average Sales Price was $357,528, a fall of 7%. More importantly, this Average Sales Price for the last 12 months was only $313 less than last month’s average.
This could be a sign that the market has found its low point. However, only 4 of the 27 markets covered in our survey had a year over year increase in Average Sales Price.
The Average Number of Days on the Market was up by 2% from 79 to 80. The March report for the prior 12 months had 81 days as the Average Number of Days on the Market so this category decreased by 1 day over the last month. The Number of Units Sold fell from 1,684 in 2008-2009 to 1,474 in the last year, a decline of 12%. In March, the figure for the previous 12 months was 1,473. Thus, one more unit sold over the last 12 month period than in the previous 12 month period that ended 30 days ago. Both the tiny decrease in the Average Number of Days on the Market and the small increase in the Number of Units Sold in the last 12 months are positive signs for the Intown market.
Total Sales Volume for the market was down 18% from $535,538,003 in 2008-09 to $436,991,425 in 2009-10. This month’s Sales Volume number represented an increase of .9% over March’s annual total of $433,086,151.
Again this survey shows a month over month a flattening of the market. The year over year numbers, while still negative, are getting less so.
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Our next posting will look in detail at the Intown South Single Family Residential Market.