In our October 2010 survey of the Atlanta in DeKalb markets only two markets experienced year over year increases in Average Sales Price. Five neighborhoods had a positive trend in Average Days on the Market. Druid Hills, East Atlanta, East Lake and Lake Claire all experienced an increase in the Number of Units Sold over the past year. These same four markets also had year over year increases in Sale Volume.
Here is a recap of the individual markets.
Candler Park had an Average Sales Price of $373,173 which reflected a year over year decline of 14% and a decline of 20% since September 2008. The Average Number of Days on the Market fell to 82 days, a year over year decrease of 20% and a two year increase of 78%. The Number of Units Sold decreased from 50 to 30 over the last year, a 40% decrease. Sales Volume in the 12 months ending in July was $11,195,190, which was down 48% over the last year and down 56% from two years ago.
Druid Hills’ Average Sales Price decreased 3% over the last year to $578,623 from $593,824. It was down 9% from the figure for the year ending in September of 2008. The Average Days on the Market in Druid Hills was down to 90 days from 95 a year ago and 66 two years ago. 61 properties sold in this market in the last 12 months. This number was up from 52 in the last 12 month period and down from the 80 units that sold two years ago. Annual Sales Volume was $35,296,003, a 14% year over year increase. It was 30% less than the period from October ’07 to September ’08.
The Average Sales Price in East Atlanta was $186,074 in the last 12 months, an increase of 4% in the last 12 months. The Average Number of Days on the Market this year was 74 days, up from 73 days last year and the year before. East Atlanta had 108 sales in the last 12 months a 3% increase over the year ending September ’09 and 11% less than the Number of Units Sold in the year ending in September ’08. Annual Sales Volume was $20,095,992, up 7% over the last year but down 22% from the 12 months ending September ’08.
East Lake had an Average Sales Price of $199,802 which is a 4% decrease in value over the last year and 11% decline over the last 24 months. The Average Days on the Market fell to 61 days from 67 days, a 9% decrease in time on the market. 47 properties closed in the last twelve months. This was up from 41 units in the year ending in September ’09.
Annual Sales Volume in East Lake was $9,390,694 which was an 11% increase form last year’s figure and a 24% drop since September 2008.
The Edgewood market experienced only a slight change in Average Sales Price over the last 12 months going from an average of $152,468 in ’09 to $152,297 in ’10. These numbers were similar to the average of $152,807 in ’08. The Average Days on the Market edged down to 67 days from 73 days last year. Edgewood had a 2% decrease in the Number of Units Sold, from 45 to 44 over the last 12 months. The one year period ending September’08 had 48 sales. The Annual Sales Volume was $6,701,168, a 2% decline over ‘09’s number and 9% less than 2008’s Annual Sales Volume.
Kirkwood experienced a 2% decrease in Average Sales Price going from $219,461 in 2009 to $215,638 this year. In 2008, the Average Sales Price in Kirkwood was $245,042.
The Average Number of Days on the Market jumped to 94 days from 63 days last year and 67 days the year before. The Number of Units Sold fell 18% over the last year from 142 to 117. In 2008 146 properties sold in Kirkwood. Annual Sales Volume was $25,229,646 this year, a decline of 19% from last year and 29% less that 2008.
Lake Claire’s current Average Sales Price is $434,413, up 1% from last year’s number of $430,056. The Average Number of Days on the Market was unchanged over the last two years at 84 days for each of the last two years. In 2008 this number was 53 days. In the last 12 months 40 properties sold in Lake Claire, up 74% from ’09. Two years ago, 46 properties sold. Annual Sales Volume was up 76% over the last 12 months from $9,891,288 to $17,376,520. In 2008, Lake Claire had a sale volume of $20,110,924.
Our next posting will cover the Intown Atlanta North markets.