Our December 2010 Adams Realtors Intown South survey had all of the markets suffering a drop in Average Sales Price. The Number of Units Sold increased in Cabbagetown. The Average Days on the Market decreased again in Grant Park and Reynoldstown. Annual Sales Volume in the last year was up only in Cabbagetown
In Cabbagetown, the Average Sales Price over the last 12 months was $214,161; this number reflects a 2% decline in value over the last year and a 12% decrease in value over the last 24 months. Average Days on the Market was 79 days, a 14% decrease over the last year and a 126% increase over a two year period. In the last 12 months 13 properties sold in Cabbagetown, up from 11 in the 12 months ending in November 2009 and down from the 15 properties that sold during the 12 months that ended in November 2008. This represents an increase of 18% over the last year and a fall of 13% from 24 months ago. Sales Volume in the last year totaled $3,216,090, an increase of 32% over the prior year and down 13% from two years ago.
The Grant Park market had an Average Sales Price of $249,075. This number was 3% below the November’09 figure and down 4% from the November ’08 average. The Average Number of Days on the Market was 85 days. This was up from 81 a year ago and 89 two years ago. 78 properties sold in Grant Park during the last 12 months. This represents a 17% decrease from November 2009’s number of 94 and a drop of 37% from two years ago when 124 properties were sold. Annual Sales Volume for the most recent 12 month period was $19,427,850, a 19% decrease over last year’s figure and 40% less than annual sales volume of $32,200,196 from two years ago.
The Average Sales Price in Ormewood Park was $194,441. This number reflected a decrease of 10% over the last 12 months and a drop of 20% over the last 24 months. The Average Number of Days on the Market in Ormewood Park was 67 days. Last year it was 70 days and the year before, the average was 61 days. The Number of Units Sold in the market for the 12 months ending November 2010 was 58 properties. This represented a decrease of 19% from last year. Total Sales Volume was $11,277,578, a 28% decrease over last year’s figure of $15,579,000 and a 32% decrease over the November 2008 total of $16,669,710.
The Reynoldstown market had an Average Sales Price of $152,869 which represented a 17% decrease from the ’09 figure of $183,574 and a 24% drop from the ’08 figure of $202,094. The Average Days on the Market fell to 31 days, a decrease of 58% over last year and a 52% fall when compared to the average two years ago. 23 properties sold in Reynoldstown during the last year compared to 27 units the year before and 40 units in 2008. Sales Volume in this market was $3,515,987 for the 12 months that ended on November 30th. This was a drop of 29% from ’09 and 57% from ’08.
Our next report will cover the Atlanta in DeKalb markets.