Adams Realtors Intown Market Survey for February continued the story of the “Tale of Two Cities” when studying the markets of College Park and East Point.

The City of College Park experienced a 5% drop in Average Sales Price from $221,273 in ’07-’08 to $209,301 in ’08-’09. Average Days on the Market in College Park fell from 140 to 135 or 4%.
The Number of Units Sold remained unchanged at 57 in both 12 month periods.

The City of East Point saw the largest percentage drop in Average Sales Price of any of the markets surveyed-38%. Average Sales Price went from $132,968 in ’07-’08 to $82,855 this year. Average Days on the Market is up by 13% from 94 to 106 and the Number of Units Sold remained virtually unchanged at -1% or 238 transactions.

Our next posting will look at some early signs of recovery in the Intown Residential Market.