All of Atlanta’s Intown North markets experienced deterioration in year over year Average Sales Price. Inman Park had a drop in the Number of Days on the Market and Morningside was unchanged from a year ago. Five markets had a drop in the Number of Units Sold with one market, Poncey Highland unchanged. Every market had a decrease in year over year Annual Sales Volume.
Here are the results of our September 2009 survey on a market by market basis for Intown North:
The Ansley Park market had a 8% decrease in Average Sales Price with an Average Sales Price of $1,067,956 in ’07-’08 and $983,272 in ’08-’09. The Average Number of Days on the Market was up from 100 to 104, an increase of 5%. The Number of Units Sold fell by 24% from 29 to 22 in the last year. Annual Sales Volume fell by 30% from $30,970,724 to $21,631,984 in ’08-‘09.
Inman Park’s Average Sales Price fell from $520,229 to $452,609, a decrease of 13%. The Average Number of Days on the Market went from 74 to 64, a decrease of 14%. The Number of Units Sold fell by 52%, from 33 to 16 and Annual Sales Volume decreased from $17,167,557 in ’07-’08 to $7,241,744 in ’08-’09 or a fall of 58%.
Midtown’s Average Sales Price decreased by 18%-$603,444 to $492,653. Average Days on the Market grew by 40% from 57 to 80 and the Number of Units Sold fell by 38% from 29 to 18 in the last 12 months. Annual Sales Volume dropped by 49% from $17,499,876 to $8,867,754 in the last 12 months.
Morningside experienced a 10% decrease in Average Sales Price from $679,168 in ’07-‘08 to $613,206 in ’08-‘09. The Average Number of Days on the Market was unchanged over last year at 77. The Number of Units Sold fell by 37% from 162 in ’07-’08 to 102 in ’08-’09. Annual Sales Volume in Morningside fell from $110,025,216 to $62,547,012- a 43% decrease from last year.
The Poncey Highland market had a decrease in Average Sale Price from $411,857 to $389,957 a fall of 5%. The Average Number of Days on the Market was up by 62% from 79 to 128 days. The Number of Units Sold remained the same at 7 units in each of the past years. Annual Sales Volume went from $2,882,999 to $2,729,699, a fall of 5%.
The Virginia-Highland market experienced a 14% decline in Average Sales Price-$663,775 to $573,793. The Average Number of Days on the Market increased by 8% from 63 to 68 and the Number of Units Sold fell from 86 in ’07-’08 to 68 in ’08-’09, a decrease of 21%. Annual Sales Volume was down by 32% from $57,084,650 to $39,017,924 in ’08-‘09.
Our next posting will cover the Central DeKalb cities of Avondale Estates, Decatur and Pine Lake along with five City of Decatur neighborhoods.
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