In our November 2010 survey of the Atlanta in DeKalb markets only East Atlanta experienced year over year increase in Average Sales Price. Five neighborhoods had a positive trend in Average Days on the Market. Druid Hills, East Lake and Lake Claire all experienced an increase in the Number of Units Sold over the past year. Druid Hills and Lake Claire also had an increase in Sales Volume over the last 12 months.
Here is a recap of the individual markets for November:
Candler Park had an Average Sales Price of $373,748 which reflected a year over year decline of 12% and a decline of 17% since October 2008. The Average Number of Days on the Market fell to 80 days, a year over year decrease of 23% and a two year increase of 86%. The Number of Units Sold decreased from 50 to 29 over the last year, a 42% decrease. Sales Volume in the 12 months ending in October was $10,838,692, which was down 49% over the last year and down 54% from two years ago.
Druid Hills’ Average Sales Price decreased 8% over the last year to $554,000 from $604,717. It was down 11% from the figure for the year ending in October of 2008. The Average Days on the Market in Druid Hills was down to 90 days from 97 a year ago and up from 66 two years ago. 59 properties sold in this market in the last 12 months. This number was up from 50 in the last 12 month period and down from the 81 units that sold two years ago. Annual Sales Volume was $32,686,000, an 8% year over year increase. It was 35% less than the period from November ’07 to October ’08.
The Average Sales Price in East Atlanta was $182,681 in the last 12 months, an increase of 2% in the last 12 months. The Average Number of Days on the Market this year was 78 days, up from 73 days last year and the year before. East Atlanta had 103 sales in the last 12 months a 5% decrease over the year ending October ’09 and 14% less than the Number of Units Sold in the year ending in October ’08. Annual Sales Volume was $18,816,143, down 3% over the last year and off 22% from the 12 months ending October ’08.
East Lake had an Average Sales Price of $199,321 which is a 5% decrease in value over the last year and 7% decline over the last 24 months. The Average Days on the Market was stable at 62 days over the last two years. 43 properties closed in the last twelve months. This was up from 42 units in the year ending in October ’09.
Annual Sales Volume in East Lake was $8,570,803 which was a 2% decrease form last year’s figure and a 24% drop since October 2008.
The Edgewood market experienced a4% decrease in Average Sales Price over the last 12 months going from an average of $154,934 in ’09 to $148,775 in ’10. These numbers were down 3% from the average of $153,951 in ’08. The Average Days on the Market edged down to 64 days from 77 days last year. Edgewood had a 27% decrease in the Number of Units Sold, from 52 to 38 over the last 12 months. The one year period ending October’08 had 48 sales. The Annual Sales Volume was $5,653,450, a 30% decline over ‘09’s number and 23% less than 2008’s Annual Sales Volume.
Kirkwood experienced a 2% decrease in Average Sales Price going from $219,258 in 2009 to $213,891 in 2010. In 2008, the Average Sales Price in Kirkwood was $240,463.
The Average Number of Days on the Market jumped to 97 days from 63 days last year and 65 days the year before. The Number of Units Sold fell 18% over the last year from 131 to 107. In 2008 163 properties sold in Kirkwood. Annual Sales Volume was $22,886,337 this year, a decline of 20% from last year and 42% less that 2008.
Lake Claire’s current Average Sales Price is $427,411, off 1% from last year’s number of $430,056. The Average Number of Days on the Market was down slightly over the last two years from 84 days to 83 days. In 2008 this number was 54 days. In the last 12 months 45 properties sold in Lake Claire, up 96% from ’09. Two years ago, 44 properties sold. Annual Sales Volume was up 94% over the last 12 months from $9,891,288 to $19,233,495. In 2008, Lake Claire had a sale volume of $19,167,940.
Our next posting will cover the Intown Atlanta North markets.