The March 2011 survey of the Intown Atlanta North markets had two markets, Ansley Park and Inman Park, experiencing an increase in Average Sales Price. Inman Park, Midtown and Morningside were markets that saw a decrease in the Average Number of Days on the Market. The Ansley Park, Morningside, Midtown and Poncey Highland markets experienced an increase in the Number of Units Sold in 2010-11. Ansley Park, Midtown, Morningside and Poncey Highland were neighborhoods that had an increase in Annual Sales Volume over the 12 months.
Here is a market by market review of our March survey:
Ansley Park had a 15% increase in Average Sales Price from $839,465 in 2009-10 to $964,749 in 2010-11. The change since February 2009 was a negative 8%. The Average Days on the Market was up to 201 from 111 last year, an increase of 81%. The Number of Units Sold was up to 24 sales from 23 sales in 2009-10. Two years ago 18 properties sold in Ansley Park. Annual Sales Volume for the year ending February 2011 was $23,153,976. This number represented an increase of 20% over the last 12 months and 22% over the figure from 2008-09.
Inman Park’s Average Sales Price of $471,645 reflected an 8% increase over last year’s average and a drop of 5% from 24 months ago. The Average Number of Days on the Market decreased by 10% to 73 days from 81 days last year. In 2008-09, the average time on the market in Inman Park was 67 days. For the year ending in February 2011, 20 properties had closed, down 31% from last year’s total and a decline of 20% over the figure from 24 months ago. Annual Sales Volume in 2010-11 totaled $9,432,900, a 26% decrease over 2009-10’s number and 24% less than 2008-09’s total.
In Midtown the Average Sales Price was $470,422. This average was 1% less than a year ago and 11% less that the average for February 2009. The Average Number of Days on the Market decreased to 66 in the last year, down 6% from 2009-10. The Number of Units Sold over the last year was 33, up 74% over the last 12 months and up 22% from ’08-‘09. The Annual Sales Volume in Midtown was $15,523,926, up 72% from last year and 8% from February 2009.
Morningside had an Average Sales Price of $564,725, a fall of 9% over the last year and 14% over the last 24 months. The Average Number of Days on the Market in Morningside fell to 87 days from 98 days in the last year, a decrease of 11%. 124 properties sold in the last year, an increase of 19% from the 104 units that sold in 2009-10 and down 7% from 24 months ago. Annual Sales Volume was $70,025,900, 9% more than last year and 20% less than 2008-09’s number.
Poncey Highland experienced a tiny decrease in Average Sales Price from $402,625 to $400,791. The Average Number of Days on the Market increased 24% to 72 days up from 58 days a year ago. Six properties sold in 2010-11 compared to 4 in 2009-10. Total Sales Volume in the last year was $2,404,746, a rise of 49% over the year and slightly higher than 2008-09’s number of $2,400,696.
The Average Sales Price in Virginia Highland was $505,072, a 10% decline over the last year and a fall of 22% since 2008-09. The Average Number of Days on the Market increased to 82 days from 81 days in 2009-10, a 1% increase. 86 properties sold in the market over the last 12 months, a 10% increase. Two years ago, 82 properties sold in Virginia Highland. Total Sales Volume in the last year was $43,436,192, a decline of 1% since ’09-‘10 and a drop of 19% since February 2009.
Our next report will cover the Central DeKalb cities of Avondale Estates, Decatur and Pine Lake.
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