The January 2011 survey of the Intown Atlanta North markets had three of the markets, Ansley Park, Inman Park and Poncey Highland, experiencing an increase in Average Sales Price. Inman Park, Midtown and Morningside were markets that saw a decline in the Average Number of Days on the Market. Morningside, Poncey Highland and Virginia Highland were the only markets to have an increase in the Number of Units Sold in 2010. Ansley Park and Poncey Highland were the only neighborhoods that had an increase in Annual Sales Volume in the last year.
Here is a market by market review of our January survey:
Ansley Park had a 7% increase in Average Sales Price from $897,074 in 2009 to $960,644 in 2010. The change since December ’08 was a negative 2%. The Average Days on the Market was up to 202 from 104 last year, an increase of 94%. The Number of Units Sold was unchanged at 23 sales in both 2009 and 2010. Two years ago 19 properties sold in Ansley Park. Annual Sales Volume for the year ending December 2010 was $22,094,812. This number represented an increase of 7% over the last 12 months and 18% over the figure from 2008.
Inman Park’s Average Sales Price of $455,800 reflected a 3% increase over last year’s average and a drop of 23% from 24 months ago. The Average Number of Days on the Market decreased by 3% to 74 days over the last year. In 2008, the average time on the market in Inman Park was 89 days. For the year ending in December, 23 properties had closed, down two transactions from last year’s total and a decline of 17% over the figure from 24 months ago. Annual Sales Volume in 2010 totaled $10,483,400, a 5% decrease over 2009’s number and 37% less than 2008’s total.
The Average Sales Price in Midtown as of December 2010 was $468,247. This average was 15% less than a year ago and 28% less that the average for December ’08. The Average Number of Days on the Market decreased to 58 in the last year, down 17% from 2009. The Number of Units Sold over the last year was 32, up 88% over the last 12 months and down 8% from ’08. The Annual Sales Volume in Midtown was $14,983,904, up 60% from last year and down 34% from December 2008.
Morningside had an Average Sales Price of $586,370, a fall of 6% over the last year and 12% over the last 24 months. The Average Number of Days on the Market in Morningside fell to 86 days from 93 days in the last year, a decrease of 8%. 111 properties sold in 2010, an increase of 6% from the 105 units that sold in 2009 and down 37% from 24 months ago. Annual Sales Volume was $65,087,070, 1% less than last year and 45% less than 2008’s number.
Poncey Highland experienced a 2% increase in Average Sales Price from $394,260 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 versus 5 in 2009. Total Sales Volume in 2010 was $2,404,746, a rise of 23% over the year and a decrease of 49% over 2008.
The Average Sales Price in Virginia Highland was $492,799, a 13% decline over the last year and a fall of 24% since 2008. The Average Number of Days on the Market increased to 79 days from 78 days in 2009, a 1% increase. 82 properties sold in the market over the last 12 months, a 5% increase. Two years ago, 103 properties sold in Virginia Highland. Total Sales Volume was $40,409,518, a decrease of 8% since ‘09 and a drop of 40% since December 2008.
Our next report will cover the Central DeKalb cities of Avondale Estates, Decatur and Pine Lake.