The February 2010 Adams Realtors Intown Market Survey covering the Intown Atlanta Single Family Residential Market showed a steeper decline in Average Sales Price for the overall market than in the previous three months – 12%. For the 12 month period from February 2008 to January 2009, the Average Sales Price was $409,158. From February 2009 to January 2010 the Average Sales Price was $360,551. This month’s Average Sales Price number was once again down from last month’s average by a tiny fraction at .47%. These numbers continue to indicate that the rate of decline on the most recent trailing 12 months is “flattening” and may be headed towards positive territory.
The Average Number of Days on the Market was up by 4% from 77 to 80. The January report for the prior 12 months had 79 days as the Average Number of Days on the Market so this category increased by 1 day over the last month. The Number of Units Sold fell from 1,889 in 2008-2009 to 1,482 in the last year, a decline of 22%. In January, the figure for the previous 12 months was 1,461. Thus, 22 additional units sold over the last 12 month period than in the previous 12 month period that ended 30 days ago. This is a continuation of a positive trend over the last few months.
Total Sales Volume for the market was down 34% from $657,406,948 in 2008-09 to $435,160,505 in 2009-10. This month’s Sales Volume number represented an increase of 1.66% over January’s annual total of $427,925,031. This is another positive trend driven by the increase in the Number of Units Sold and an Average Sales Price that has a rate of change that is close to zero.
Once again, the year over year numbers still paint a negative picture of the Intown Atlanta market. The small positive signs are the lessening of the “month over month” rate of decline in Average Sales Price, the Number of Days on the Market is relatively stable and the Number of Units Sold and Sales Volume, when compared with the prior month’s numbers continues to move in a positive direction.
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Our next posting will look in detail at the Intown South Single Family Residential Market.