In our January 2011 Adams Realtors Intown South survey, Grant Park was the only market with an increase in Average Sales Price. The Average Days on the Market was down in Ormewood Park and in Reynoldstown. The Number of Units Sold was down in every market. Annual Sales Volume was also down in all of the markets surveyed.
In Cabbagetown, the Average Sales Price over the 12 months of 2010 was $214,009; this number reflects a 1% decline in value over the last year and a 13% decrease in value over the last 24 months. Average Days on the Market was 89 days, a 25% increase over the last year and a 128% increase over a two year period. In the last year 11 properties sold in Cabbagetown, down from 12 in the 12 months ending in December 2009 and down from the 29 properties that sold during the 12 months that ended in December 2008. This represents a decrease of 8% over the last year and a fall of 62% from 24 months ago. Sales Volume in the last year totaled $2,354,099, a decrease of 9% over the prior year and down 67% from two years ago.
The Grant Park market had an Average Sales Price of $262,387. This number was 4% above the December ’09 figure and slightly up from the 2008 average. The Average Number of Days on the Market was 83 days. This was up from 82 a year ago and 86 two years ago. 75 properties sold in Grant Park during 2010. This represents a 20% decrease from December 2009’s number of 94 and a drop of 36% from two years ago when 117 properties were sold. Annual Sales Volume for the year 2010 was $19,679,025, a 17% decrease over 09’s figure and 36% less than annual sales volume of $30,649,905 from 2008.
The Average Sales Price in Ormewood Park was $192,109 in 2010. This number reflected a decrease of 11% over the last 12 months and a drop of 23% over the last 24 months. The Average Number of Days on the Market in Ormewood Park was 68 days. Last year it was 69 days and the year before, the average was 61 days. The Number of Units Sold in the market for the 12 months ending December 2010 was 52 properties. This represented a decrease of 32% from 2009. Total Sales Volume was $9,989,668, a 40% decrease over last year’s figure of $16,562,864 and a 41% decrease over the December 2008 total of $17,011,628.
The Reynoldstown market had an Average Sales Price of $161,059 which represented a 5% decrease from the 2009’s figure of $170,103 and a 35% drop from the ’08 figure of $248,204. The Average Days on the Market fell to 41 days, a decrease of 37% over last year and a 40% fall when compared to the average two years ago. 19 properties sold in Reynoldstown during 2010 compared to 31 units in 2009 and 34 units in 2008. Sales Volume in this market was $3,060,121 for the 12 months that ended on December 31st. This was a drop of 42% from 2009 and 64% from 2008.
Our next report will cover the Atlanta in DeKalb markets.