In our December 2010 survey of the Atlanta in DeKalb markets only East Atlanta experienced year over year increase in Average Sales Price, while the Average Sales Price in Kirkwood and Lake Claire was virtually unchanged. Four neighborhoods had a positive trend, meaning a decrease, in Average Days on the Market. Druid Hills and Lake Claire had an increase in the Number of Units Sold over the past year. Druid Hills and Lake Claire also had an increase in Sales Volume over the last 12 months.
Here is a recap of the individual markets for December:
Candler Park had an Average Sales Price of $388,506 which reflected a year over year decline of 8% and a decline of 14% since November 2008. The Average Number of Days on the Market fell to 80 days, a year over year decrease of 24% and a two year increase of 86%. The Number of Units Sold decreased from 51 to 31 over the last year, a 39% decrease. Sales Volume in the 12 months ending in November was $12,043,686, which was down 44% over the last year and down 45% from two years ago.
Druid Hills’ Average Sales Price decreased 8% over the last year to $538,075 from $583,372. It was down 14% from the figure for the year ending in November of 2008. The Average Days on the Market in Druid Hills was up to 98 days from 95 a year ago and up from 68 two years ago. 59 properties sold in this market in the last 12 months. This number was up from 48 in the last 12 month period and down from the 82 units that sold two years ago. Annual Sales Volume was $31,746,425, a 13% year over year increase. It was 38% less than the period from December ’07 to November ’08.
The Average Sales Price in East Atlanta was $181,781 in the last 12 months, an increase of 2% in the last 12 months. The Average Number of Days on the Market this year was 73 days, down from 76 days last year and the year before. East Atlanta had 98 sales in the last 12 months a 13% decrease over the year ending November’09 and 18% less than the Number of Units Sold in the year ending in November ’08. Annual Sales Volume was $17,814,538, down 11% over the last year and off 28% from the 12 months ending November ’08.
East Lake had an Average Sales Price of $202,622 which is a 2% decrease in value over the last year and 6% decline over the last 24 months. The Average Days on the Market was 64 days, an increase of 19% over the last 12 months. 38 properties closed in the last twelve months. This was down from 43 units in the year ending in November’09.
Annual Sales Volume in East Lake was $7,699,636 which was a 14% decrease form last year’s figure and a 33% drop since November 2008.
The Edgewood market experienced an 11% decrease in Average Sales Price over the last 12 months going from an average of $159,557 in ’09 to $142,342 in ’10. These numbers were down 8% from the average of $149,652 in ’08. The Average Days on the Market edged down to 71 days from 78 days last year. Edgewood had a 32% decrease in the Number of Units Sold, from 47 to 38 over the last 12 months. The one year period ending November ’08 had 54 sales. The Annual Sales Volume was $4,554,944, a 39% decline over ‘09’s number and 44% less than 2008’s Annual Sales Volume.
Kirkwood experienced a virtually no change in Average Sales Price going from $216,629 in 2009 to $216,616 in 2010. In 2008, the Average Sales Price in Kirkwood was $242,340. The Average Number of Days on the Market increased to 99 days from 65 days last year and 66 days the year before. The Number of Units Sold fell 21% over the last year from 133 to 105. In 2008 161 properties sold in Kirkwood. Annual Sales Volume was $22,744,680 this year, a decline of 21% from last year and 42% less that 2008.
Lake Claire’s current Average Sales Price is $427,429, up slightly from last year’s number of $425,712. The Average Number of Days on the Market was down over the last year from 97 days to 77 days. In 2008 this number was 50 days. In the last 12 months 42 properties sold in Lake Claire, up 68% from ’09. Two years ago, 43 properties sold. Annual Sales Volume was up 69% over the last 12 months from $10,642,800 to $17,952,018. In 2008, Lake Claire had a sale volume of $18,794,354.
Our next posting will cover the Intown Atlanta North markets.