Our December 2010 Intown Atlanta Market Survey measures market activity and changes over the last three years. This report looks at the numbers from the market as a whole from December 1, 2007 to November 30, 2010.
The Average Sales Price for the 12 months ending November 30, 2010 was $300,764 a slight increase from last month’s number and down 17% from the November 30, 2009 number of $364,015. On November 30, 2008 the Average Sales Price was $394,932, almost 24% higher than today’s average
Average Number of Days on the Market was 81 days over the last 12 months and also 81 days for the period 2008-09. In 2007-08, the Average Number of Days on the Market was 80 days. Thus over one year average was unchanged and the two year change was a positive 1%.
The Number of Units Sold in the last 12 months was 1,523, while in the 12 months ending November 2009 1,474 units sold and from December 2007 to November 2008 1,781 sold. The one year change is a positive 3% and the two year change is negative 14%.
Annual Sales Volume from December ’09 to November ’10 was $458,063,531 compared to $472,986,265 in ’08-’09 and $597,488,145 in ’07-’08. The one year change was down 3% and the two year change was negative 23%
My crystal ball is still pretty cloudy as far as 2011 is concerned. I predict that interest rates will stay flat for most of the year. I feel like the employment situation will improve and that combined with low interest rates will drive up housing demand. The Number of Transaction should increase over 2010’s numbers which were an improvement over 2009. I am not sure that the Average Sales Price for the overall market will increase over 2010. I do feel that the numbers will be less negative that the 17% year over year decline from 2009 to 2010. The basic fundamentals that make the Intown Atlanta market attractive are still in place and this next year will be a better year than this year.
Our next report will examine the Intown South market