The Central DeKalb cities of Avondale Estates and Decatur both experienced a small year over year increase in Average Sales Price, while the City of Pine Lake had a rather healthy increase in Average Sales Price. The City of Decatur markets of Glenwood Estates and Winnona Park continued to be stable performers. The other three Decatur neighborhoods Oakhurst, Great Lakes and Decatur Heights (added this month) were either flat or had small gains in Average Sales Price.

Here are the results of our May 2009 survey:

Avondale Estates had a 2% increase in Average Sales Price from $331,418 in ’07-’08 to $336,455 in ’08-’09. Average Days on the Market grew from 79 to 96 or an increase of 22%. The Number of Units Sold fell from 62 to 34 or 45%. Annual Sales Volume declined by 44% from $20,547,916 to $11,439,470.

The City of Decatur market experienced a 2% increase in Average Sales Price from $383,896 to $392,300 in the last 12 months. Average Days of the Market decreased from 69 to 66 or 4%. The Number of Units Sold fell by 17% from 256 to 212. Annual Sales Volume in Decatur dropped by 15% from $98,277,376 in ’07-’08 to $83,167,600 in ’08-’09.

The Pine Lake market experienced a 9% price increase over the last 12 months with an Annual Sales Price in ’07-’08 of $142,220 and $155,483 in ’08-’09. The Average Days on the Market in Pine Lake decreased by 1% from 107 days to 106 days. The Number of Units Sold fell from 19 units to 9 units or 53%. Annual Sales Volume dropped by 48% from $2,702,180 to $1,399,347 in the last 12 months.

The City of Decatur neighborhood of Decatur Heights was added to our survey this month. The Average Sales Price in Decatur Heights was almost unchanged over the last 24 months with $356,010 in ’07-’08 to $355,207 in ’08-’09. Average Days on the Market increased by 57% from 54 to 85 and the Number of Units Sold increased from 20 to 23 or 15%. Total Sales Volume also increased by 15% from $7,120,200 in the year leading up to May 2008 to $8,169,761 in the last 12 months

The Decatur neighborhood of Glenwood Estates had a 24% increase in Average Sales Price from $414,750 to $514,100. The Average Days on the Market fell from 90 days to 60 days or 33%. Glenwood Estates experienced a 125% increase in the Number of Units Sold from 4 to 9. Annual Sales Volume was up 179% from $1,659,000 to $4,626,900 in the last year.

The Great Lakes market had a slight increase in Average Sales Price from $519,725 in ’07-’08 to $521,733 in ’08-’09. The Average Number of Days on the Market increased by 82% from 56 to 102. The Number of Units Sold dropped by 40% from 10 to 6. Annual Sales Volume fell by 40% from $5,197,250 to $3,130,396 in the last 12 months.

The Oakhurst neighborhood had a 2% increase in Average Sales Price from $358,167 in ’07-’08 to $363,771 in ’08-’09. The Average Number of Days on the Market fell by 23% from 75 to 58. The Number of Units Sold dropped 22% from 90 to 70 and Annual Sales Volume fell by 21% from $32,235,030 to $25,463,970.

The Winnona Park market experienced a 15% increase in Average Sales Price from $397,337 in ’07-’08 to $456,548 in ’08-’09. The Average Days on the Market increased by 30% from 69 to 90 and the Number of Units Sold decreased from 35 to 32 or 9% in the last 12 months. Annual Sales Volume was up by 5% from $13,906,795 to $14,609,536.

Our next posting will cover the Tri-Cities of College Park, East Point and Hapeville.