In our November 2010 survey of the Tri-Cities markets, the East Point and College Park markets had a year over year increase in Average Sales Price. East Point was the only market that had a year over year decline in Average Number of Days on the Market. College Park had an increase in the Number of Units Sold on a year over year basis. College Park was also the only market to show an increase in Annual Sales Volume.
Here are the results from our November 2010 Market Survey for the Tri-Cities:
College Park had a 16% increase in Average Sales Price from $125,240 in 2008-09 to $145,594 in 2009-10. Since 2007-08, the Average Sales Price was down 34%. The Average Number of Days on the Market was up from 108 to 125 or 16% over the last two years. The Number of Units Sold rose from 58 units to 59 units in the last 12 months. The Annual Sales Volume in College Park was up by 18% from $7,263,920 to $8,590,046 over the last 12 months and down 36% over the last 24 months.
The East Point market had a 7% increase in Average Sales Price from $55,907 to $59,816 in the last year. Going back 24 months, East Point experienced a 34% decrease in Average Sales Price. The Average Number of Days on the Market went from 88 to 82 or a 7% drop. The Number of Units Sold decreased from 239 in ’08-‘09 to 203 in ’09-‘10, a decline of 15%. Annual Sales Volume in East Point had a 9% drop from $13,361,773 in 2008-09 to $12,142,648 in 2009-10. Over the last 24 months, Annual Sales Volume was off 43% in East Point.
Hapeville’s Average Sales Price was down from $95,765 in 2008-09 to $92,088 in 2009-10 or 4%. The decline in Average Sales Price from 2007-08 to today is 22%. The Number of Days on the Market increased from 88 to 1113 or 12%. Over the last 24 months, the average Number of Days on the Market increased by 24%. The Number of Units Sold was unchanged over the last two years at 29 properties per year. In the period November 2007 to October 2008, 38 properties sold. Annual Sales Volume dropped by 4% from $2,777,185 to $2,670,552 over the last year. Over the last 24 months, Hapeville’s Annual Sales Volume is down by 40%.