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Intown Atlanta-North Markets Adams Realtors September 2009 Survey

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.

Posted in: Intown North Submarkets

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• All my experiences have had a profound effect on me and the company that I began in 1979. I had a commercial real estate background but came to realize that strong neighborhoods are vital to a city’s quality of life and even its very existence. Our approach to residential real estate has always reflected the values of neighborhood activism. Our transactions involve people, not just numbers. After more than Forty years of service, our hope, and our goal in each of our sales is still that our clients and the communities in which they choose to live are better off because of having done business with us.

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