In our January 2010 survey of the Intown South neighborhoods Ormewood Park, once again, was the only neighborhood with an increase in the Number of Units Sold and Annual Sales Volume. Grant Park was the only market that did not have an increase in the Number of Days on the Market. All of the markets had a decline in Average Sales Price and Grant Park, Cabbagetown and Reynoldstown each suffered through a 20% plus decline in Annual Sales Volume.
Here is a market by market analysis for January 2010:
Cabbagetown’s market had a 10% decrease in Average Sales Price from $241,627 in 2008 to $216,291 in 2009. The Average Number of Days on the Market was up from 45 to 71, an increase of 58%. The Number of Units Sold was dropped by 20% from 15 to 12. Annual Sales Volume was down from $3,624,405 to $2,595,492, a fall of 28%.
The Grant Park market fell 6% in Average Sales Price over calendar year 2009 going from $263,265 to $248,615. Average Number of Days on the Market remained at 84 days over the last two year period. The Number of Units Sold was off by 19% from 118 in 2008 to 95 in 2009. Annual Sales Volume in Grant Park fell by 24% from $31,065,270 in ’08 to $23,615,425 in 2009.
Ormewood Park’s Average Sales Price was down 10% in the last year, from $241,972 to $217,160. The Average Number of Days on the Market increased from 58 days to 70 days or 21%. The Number of Units Sold was up by 14% from 66 to 75. Annual Sales Volume grew by 2% with $15,970,152 in 2008 to $16,287,000 in 2009.
The Reynoldstown market experienced a 16% decline in Average Sales Price, from $202,355 to $170,130 over the last 12 months. The Average Number of Days on the Market was up by 7% from 61 to 65. The Number of Units Sold was down by 14% from 36 in’08 to 31 in ’09. Annual Sales Volume in Reynoldstown was off by 28% from $7,284,780 to $5,274,030 in 2009.
Our next posting will cover the Atlanta in DeKalb markets.