Our August 2010 survey of the Intown Atlanta North markets had Poncey Highland, once again, the only neighborhood that experienced a positive trend in Average Sales Price over the last three years. Midtown and Poncey Highland were the only markets that saw a decline in the Average Number of Days on the Market since 2007. Ansley Park, Inman Park, Virginia Highland and Midtown had an increase in the Number of Units Sold over the last 12 months. Inman Park, Midtown and Virginia Highland were the only neighborhoods that had an increase in Annual Sales Volume in the last year.
Here is a market by market recap on our August survey:
Ansley Park had a 14% drop in Average Sales Price from $992,363 in 2008-09 to $857,193 in 2009-10. The change since July’08 was minus 20%. The Average Days on the Market was up to 189 from 106 last year, an increase of 73%. The Number of Units Sold was up by 9% from 22 to 24 over the last two 12 month periods. Two years ago 30 properties sold in Ansley Park. Annual Sales Volume for the year ending July 2010 was $20,572,682. This number represented a decline of 6% over the last 12 months and 38% over the last 24 months.
Inman Park’s Average Sales Price of $447,618 reflected a 6% decrease over last year’s average and a drop of 15% from 24 months ago. The Average Number of Days on the Market increased by 26% to 78 days over the last year. However, 24 months ago, the average time on the market in Inman Park was 75 days. As of July, 32 properties had closed, an increase of 100% over last years total and a decline of 3% over the figure from 24 months ago. Annual Sales Volume over the last 12 months totaled $14,323,776, an 89% increase over the July’09 number and 17% less than the July 2008’s total.
The Average Sales Price in Midtown as of July 2010 was $470,952. This average was 6% less than a year ago and 22% less that the average for July ’08. The Average Number of Days on the Market decreased to 60 in the last year, down 21% from July ’09. The Number of Units Sold over the last year was 30, up 76% over the last 12 months and unchanged from July ’08. The Annual Sales Volume in Midtown was $14,128,560, up 89% from last July ’09 and down 17% from July 2008’s number.
Morningside had an Average Sales Price of $601,558, a fall of 5% over the last year and 11% over the last 24 months. The Average Number of Days on the Market in Morningside rose to 94 days from 78 days in the last year, an increase of 21%. 100 properties sold in the last 12 months, a decrease of 14% from the 116 units that sold in the prior 12 months and down 35% from 24 months ago. Annual Sales Volume was $60,155,800, 18% less than last year and 42% less than July 2008’s number.
Poncey Highland experienced a 17% increase in Average Sales Price from $389,957 to $454,666. The Average Number of Days on the Market fell 69% to 40 days down from 128 days a year ago. Only 3 properties sold in the last 12 months, a drop of 57%. Two years ago 7 units sold. Total Sales Volume between August ’09 and July ‘10 was $1,363,998, a fall of 50% over the year and 53% over the last 24 months.
The Average Sales Price in Virginia Highland was $554,190, a 2% decline over the last year and a fall of 17% since 2008. The Average Number of Days on the Market rose to 91 days from 70 days in July ’09, a 30% increase. 77 properties sold in the market over the last 12 months, a 4% increase. Two years ago, 89 properties sold in Virginia Highland. Total Sales Volume was $42,672,630, an increase of 2% since July ’09 and a fall of 28% since July 2008.
Our next report will cover the Central DeKalb cities of Avondale Estates, Decatur and Pine Lake.