In July’s survey of the Intown South markets all of the markets remained in negative territory in Average Sales Price. The Grant Park and Reynoldstown continued to show improvement in Average Days on the Market. Ormewood Park was the only neighborhood that showed an increase in the Number of Units Sold.

Here is a market by market analysis for July 2009:

Cabbagetown’s market had a 6% drop in Average Sales Price going from $255,692 in ’07-’08 to $239,642 in ’08-’09. The Average Number of Days on the Market went from 33 to 45, an increase of 36%. The Number of Units Sold fell 38% from 21 to 13 while Annual Sales Volume dropped from $5,369,532 to $3,115,346, a drop of 42%.

The Grant Park market had an 8% fall in Average Sales Price over the last year from $266,081 to $245,020. In the “good news” category, the Average Number of Days on the Market fell from 93 days to 80 days, a 14% decrease. The Number of Units Sold fell by 45% from 143 in ’07-’08 to 79 in ’08-’09. Annual Sales Volume in Grant Park fell by 49% from $38,049,583 in ’07-’08 to $19,356,580 in ’08-‘09.

Ormewood Park’s Average Sales Price fell by 8% in the last year, from $248,387 to $229,438. The Average Number of Days on the Market rose from 56 days to 73 days or 47%. In a positive sign of market activity, the Number of Units Sold increased by 7% from 58 to 62 and Annual Sales Volume was down by 1% from $14,406,446 in ’07-’08 to $14,225,156 in ’08-’09.

The Reynoldstown market suffered a 26% decline in Average Sales Price, from $227,176 to $167,491. The Average Number of Days on the Market fell by 8 days or 11% from 72 to 64. The Number of Units Sold decreased by 23% from 39 in ’07-’08 to 30 in ’08-’09. Annual Sales Volume in Reynoldstown dropped by 43% from $8,859,864 to $5,024,730 in the last 12 months.

Our next posting will cover the Atlanta in DeKalb markets.