The first 2010 Adams Realtors Intown Market Survey showed the decline in Average Sales Price for the overall market remaining constant (for the third month in a row) at 8%. For calendar year 2008, the Average Sales Price was $393,983. For the 12 months in 2009 the Average Sales Price was $362,248. This month’s Average Sales Price number was once again down from last month’s average by a less than 1% at .78%. These numbers seem to indicate that the rate of decline is approaching zero and the change in Average Sales Price will hopefully cross over into positive territory in the next few months.
The Average Days on the Market fell by 2% from 80 to 79- a good sign. The December report for the prior 12 months had 81 days as the average number of days on the market so this category continues to improve. The Number of Units Sold fell from 1,753 in 2008 to 1,461 in the last year, a decline of 17%. In December, the figure for the previous 12 months was 1,438. So 23 more units sold over the last 30 days than in the previous month, another positive indicator of an improving market.
Total Sales Volume for the market was down 27% from $582,220,175 in 2008 to $427,925,031 in 2009. This month’s Sales Volume number represented an increase of a tad over 1% from December’s annual total of $423,301,844.
For those of us looking for positive trend, the year over year numbers still paint a mostly negative picture. However, if you compare the changes over the last three months, the decline in Average Sales Price is approaching zero, the Number of Days on the Market is improving and the Number of Units Sold and Sales Volume has increased with each passing month
We will look at the various components of the overall market beginning with the Intown South neighborhoods in our next posting.