In this month’s survey of Atlanta’s Intown North market all but one market experienced a decrease in Average Sales Price. Three neighborhoods had a decrease in the Average Number of days on the Market, a positive event. Every market except Morningside had a drop in the Number of Units Sold and all suffered a fall in Annual Sales Volume.

Here are the results of our May 2009 survey on a market by market basis for Intown North:

The Ansley Park market had a 11% drop in Average Sales Price with an Average Sales Price of $1,141,353 in ’07-’08 and $1,011,447 in ’08-’09. The Average Number of Days on the Market fell from 101 to 79, a drop of 22%. The Number of Units Sold fell by 34% from 29 to 19 in the last 12 months. Annual Sales Volume fell by 42% from $33,099,237 to $19,217,493 this year.

Inman Park’s Average Sales Price dropped from $559,130 to $441,640, a decrease of 21%. The Average Number of Days on the Market went from 88 to 52, a decrease of 41%. The Number of Units Sold fell by 44%, from 34 to 19 and Annual Sales Volume decreased from $19,010,420 in ’07-’08 to $8,391,160 in ’08-’09 or a fall of 56%.

The Midtown market continued its trend of falling prices with Average Sales Price having a decrease of 20%-$645,882 to $515,598. Average Days on the Market grew by 15% from 62 to 71 and the Number of Units Sold fell by 37% from 35 to 22 in the last year. Annual Sales Volume fell by 50% from $22,605,870 to $11,343,156 in ’08-‘09.

Morningside, like last month, had a 5% fall in Average Sales Price from $675,882 in ’07-‘08 to $641,567 in ’08-‘09. The Average Number of Days on the Market decreased from 80 to 73, a drop of 9% while the Number of Units Sold increased by 2% from 174 in ’07-’08 to 177 in ’08-’09. Annual Sales Volume in Morningside fell from $117,608,688 to $113,557,359 or 3% in the last year.

The Poncey Highland market experienced a tiny increase in Average Sale Price from $420,300 to $422,283. The Average Number of Days on the Market increased by 81% from 72 to 130 days. The Number of Units Sold fell from 11 to 6 or 45% and Annual Sales Volume went from $4,623,300 to $2,533,698, a drop of 45%.

The Virginia-Highland market suffered a 15% decrease in Average Sales Price-$692,573 to $591,393. The Average Number of Days on the Market increased by 9% from 66 to 72 and the Number of Units Sold fell from 100 in ’07-’08 to 67 in ’08-’09, a decrease of 33%. Annual Sales Volume was down by 43% from $69,257,300 to $39,623,331 in the last 12 months.
Our next posting will cover the Central DeKalb cities of Avondale Estates, Decatur and Pine Lake along with five City of Decatur neighborhoo