In our January 2011 survey of the Central DeKalb markets, all of the markets, except for Avondale Estates, had a year over year decrease in Average Sales Price. The Number of Days on the Market was down in Avondale Estates and Decatur and up in Pine Lake. The City of Decatur and its Oakhurst and Winnona Park neighborhoods were markets that experienced an increase in the Number of Units Sold in 2010. Winnona Park, Oakhurst and the City of Decatur were also markets that had an increase in Annual Sales Volume in 2010.
Here are the results of our Adams Realtors January 2011 survey:
Avondale Estates experienced a tiny increase in Average Sales Price from $296,252 in 2009 to $297,702 in 2010. The change from 2008 was negative 6% Average Number of Days on the Market declined from 84 to 70 or 17% over the last year. The Number of Units Sold dropped from 51 to 45 or 12% and the decline since 2008 was 32%. Annual Sales Volume declined by 11% from $15,108,852 in 2009 to $13,396,590 in 2010 and down 36% from 2008.
The City of Decatur market had a 7% decline in Average Sales Price from $377,178 to $349,720 in the last year. Since 2008 prices in Decatur are down by 10%. Average Days on the Market fell slightly over the last year from 60 to 59 days. The Number of Units Sold was up by 21% from 174 to 211 over the last 12 months. Looking back 24 months, the number of units sold was off by 22%. Annual Sales Volume in Decatur increased by 12% from $65,626,972 in 2009 to $73,970,920 in 2010. Sales Volume is down 30% from 2008’s number.
The Pine Lake market experienced a 4% decrease in Average Sales Price from $136,050 in ’09 to $131,107 in ‘10. Over the last 24 months, the Average Sales Price was off 16%. The Average Days on the Market increased from 77 days to 110 days. The Number of Units Sold was 13 units in both 2010 and 2009. In 2008, 17 units sold. Annual Sales Volume decreased by 4% from $1,768,650 to $1,704,391 in the last year and it is down 36% over the last two years.
The Decatur neighborhood of Glenwood Estates had a 23% decrease in Average Sales Price from $508,562 to $392,800. Over a two year period, the Average Sales Price dropped 10%. The Average Days on the Market was up from 58 days to 66 days or 14%. Five units sold in 2010 compared to 8 units that sold in 2009. 5 units also sold in ‘08. Annual Sales Volume was down 52% from $4,068,496 in 2009 to $1,964,000 in 2010. The decrease from 2008 was 10%.
The Great Lakes market had a 15% decrease in Average Sales Price from $529,312 in 2008-09 to $449,360 in 2010. This market was down 7% from 2008. The Average Number of Days on the Market was down by 59% from 97 days to 40 days. The Number of Units Sold dropped from 8 to 5 units in the last year. Annual Sales Volume was down by 47% from $4,234,496 to $2,246,800 in the last twelve months. Over the last 24 months, Annual Sales Volume was off by 61%.
The Oakhurst neighborhood had a 3% fall in Average Sales Price from $359,131 in ‘09 to $348,544 in ‘10. The average was down by 6% since 2008. The Average Number of Days on the Market was the same, 58 days, in both 2009 and 2010. The Number of Units Sold went from 75 to 83 units per year or an increase of 11%. This number was down 17% from 2008. Annual Sales Volume increased by 7% from $26,934,825 to $28,929,152 in the last 12 months. Since 2007-08, sales volume has dropped by 22%.
The Winnona Park market had a 1% decline in Average Sales Price from $372,275 in 2009 to $368,270 in 2010. In 2008, the Average Sales Price was $403,086. The Average Days on the Market declined by 2% from 87 to 85. The Number of Units Sold rose from 21 to 24 or 14% in the last 12 months. Since 2008 sales were down by 20%. Annual Sales Volume increased by 13% from $7,817,775 to $8,838,480 in the last year. Over the last two years, the drop in sales volume was 27%.
Our next posting will cover the Tri-Cities of College Park, East Point and Hapeville.