Our August 2010 Adams Realtors Intown South survey shows the Cabbagetown market continued to be mostly in negative territory. Reynoldstown was the only market that had a positive gain in Average Sales Price. Grant Park and Cabbagetown showed an increase in the Number of Units Sold. Grant Park was the only market that had a year over year increase in Annual Sales Volume while Ormewood Park experienced a small gain over the last 24 months.
In Cabbagetown, the Average Sales Price over the last 12 months was $219,923; this number reflects a 10% decline in value over the last year and a 15% decrease in value over the last 24 months. Average Days on the Market was 69 days, a 50% increase over the last year and a 77% increase over a two year period. In the last 12 months 13 properties sold in Cabbagetown, up from 12 in the 12 months ending in July 2009 and 18 during the 12 months that ended in July 2008. This represents an increase of 8% over the last year and 28% decrease over the last 24 months. Sales Volume in the last year totaled $2,858,999, a fall of 3% over the prior year and 38% down from two years ago.
The Grant Park market had an Average Sales Price of $246,221. This number was less that 3% below the July ’09 figure and down 7% from the July ’08 average. The Average Number of Days on the Market was 78 days. This was down from 81 a year ago and 89 two years ago. 90 properties sold in Grant Park during the last 12 months. This represents a 7% increase from July 2009’s number of 84 and a drop of 32% from two years ago when 133 properties were sold. Annual Sales Volume for the most recent 12 month period was $22,159,890, a 4% increase over last year’s figure and 37% less than annual sales volume of $35,282,107 from two years ago.
The Average Sales Price in Ormewood Park was $210,639. This number reflected a decrease of 5% over the last 12 months and a drop of 14% over the last 24 months. The Average Number of Days on the Market in Ormewood Park was 64 days. Last year it was 70 days and the year before, the average was 56 days. The Number of Units Sold in the market for the 12 months ending July 2010 was 69 properties. This represented no change from last year. Total Sales Volume was $14,534,091, an 8% decrease over last year’s figure of $15,755,943 and a 2% increase over the July 2008 total of $14,231,170.
The Reynoldstown market had an Average Sales Price of $171,437 which represented a 1% increase from the ’09 figure of $169,252 and a 22% drop from the ’08 figure of $220,751. The Average Days on the Market fell to 42 days, a decrease of 33% over last year and 42% fall when compared to the average two years ago. 24 properties sold in Reynoldstown during the last year compared to 31 units the year before and 40 units in 2008. Sales Volume in this market was $4,114,488 for the 12 months that ended on July 30th. This was a drop of 22% from ’09 and 53% from ’08.
Our next report will cover the Atlanta in DeKalb markets.