In our January 2011 survey of the Atlanta in DeKalb markets, East Atlanta, East Lake and Lake Claire experienced year over year increases in Average Sales Price. Five neighborhoods had a decrease in Average Days on the Market. Druid Hills, East Lake and Lake Claire had an increase in the Number of Units Sold in 2010. These same three neighborhoods also experienced an increase in Sales Volume over the last 12 months.
Here is a recap of the individual markets:
Candler Park had an Average Sales Price of $394,358 which reflected a year over year decline of 8% and a decline of 9% since December 2008. The Average Number of Days on the Market fell to 76 days, a year over year decrease of 32% and a two year increase of 27%. The Number of Units Sold decreased from 48 to 34 over the last year, a 29% decrease. Sales Volume in the 12 months ending in December 2010 was $13,408,172, which was down 35% over the last year and down 31% from 2008’s figure.
Druid Hills’ Average Sales Price decreased 10% over the last year to $531,695 from $593,579. It was down 16% from the figure for the year 2008. The Average Days on the Market in Druid Hills was up to 99 days from 90 a year ago and up from 83 two years ago. 61 properties sold in this market in the last 12 months. This number was up from 50 in 2009 and down from the 81 units that sold in 2008. Annual Sales Volume was $32,433,395, a 9% year over year increase. It was, however, 37% less than 2008’s sales volume.
The Average Sales Price in East Atlanta was $185,879 in 2010, an increase of 8% in the last 12 months. The Average Number of Days on the Market this year was 72 days, down from 77 days last year and 81 the year before. East Atlanta had 90 sales in the last 12 months a 23% decrease over the year ending December ’09 and 36% less than the Number of Units Sold in the year ending in December ’08. Annual Sales Volume was $16,729,110, down 17% over the last year and off 42% from the 12 months ending December ’08.
East Lake had an Average Sales Price of $203,015 which is a 2% increase in value over the last year and 6% decline over the last 24 months. The Average Days on the Market was 66 days, an increase of 27% over the last 12 months. 41 properties closed in 2010. This was up from 40 units in the year ending in December’09. Annual Sales Volume in East Lake was $8,323,615 which was a 5% increase form 2009’s figure and a 38% drop since December 2008.
The Edgewood market experienced an 14% decrease in Average Sales Price over the last 12 months going from an average of $163,733 in ’09 to $140,498 in ’10. These numbers were down 7% from the average of $150,419 in ’08. The Average Days on the Market was down to 70 days from 79 days last year. Edgewood had a 35% decrease in the Number of Units Sold, from 48 to 31 over the last 12 months. The one year period ending December 2008 had 57 sales. The Annual Sales Volume was $4,355,438, a 45% decline over 2009’s number and 49% less than 2008’s Annual Sales Volume.
Kirkwood experienced a 3% drop in Average Sales Price going from $219,318 in 2009 to $213,755 in 2010. In 2008, the Average Sales Price in Kirkwood was $268,985. The Average Number of Days on the Market increased to 102 days from 63 days last year and 58 days in 2008. The Number of Units Sold fell 22% over the last year from 132 to 102. In 2008 150 properties sold in Kirkwood. Annual Sales Volume was $22,016,765 in 2010, a decline of 24% from 2009 and 45% less than 2008.
Lake Claire’s current Average Sales Price is $423,402, up from 2009’s number of $410,658. The Average Number of Days on the Market was down over the last year from 99 days to 78 days. In 2008 this number was 63 days. In the last 12 months 42 properties sold in Lake Claire, up 75% from ’09. Two years ago, 48 properties sold. Annual Sales Volume was up 80% over the last 12 months from $9,855,782 to $17,782,884. In 2008, Lake Claire had a sale volume of $20,627,424.
Our next posting will cover the Intown Atlanta North markets.