In our February 2011 survey of the Tri-Cities markets, the College Park market had a year over year increase in Average Sales Price. Once again this month, East Point was the only market that had a year over year decline in Average Number of Days on the Market. This month, none of the markets had an increase in the Number of Units Sold and none had an increase in Annual Sales Volume.
Here are the results from our February 2011 Market Survey for the Tri-Cities:
College Park had a 12% increase in Average Sales Price from $127,161 in 2009-10 to $142,032 in the last year. Since 2008-09, the Average Sales Price was down 32%. The Average Number of Days on the Market was up from 102 to 132 or 29% over the last two years. The Number of Units Sold fell from 61 units to 54 units in the last 12 months. The Annual Sales Volume in College Park was down 1% from $7,756,821 to $7,669,728 over the last 12 months and down 36% over the last 24 months.
The East Point market had a fall in Average Sales Price from $60,453 to $52,583 or 13% in the last year. Over the last 24 months, East Point experienced a 37% decrease in Average Sales Price. The Average Number of Days on the Market went from 86 to 79 or an 8% drop. The Number of Units Sold decreased from 228 in 2009-10 to 196 in the last year, a decline of 14%. Annual Sales Volume in East Point had a 25% drop from $13,783,284 in 2009-10 to $10,306,268 in the last year. Over the last 24 months, Annual Sales Volume was off 48% in East Point.
Hapeville’s Average Sales Price was down from $87,130 in 2009-10 to $83,822 in the last year or 4%. The decline in Average Sales Price from 2008-09 to 2010-11 was 33%. The Number of Days on the Market increased from 86 to 104 or 21%. Over the last 24 months, the average Number of Days on the Market increased by 11%. The Number of Units Sold fell from 31 to 25 properties per year over the last two 12 month periods. In 2008-09, 35 properties sold. Annual Sales Volume was down by 22% from $2,701,030 to $2,095,550 over the last year. Over the last 24 months, Hapeville’s Annual Sales Volume has dropped by 52% from $4,363,240.
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