Once again East Point is the poorest performer in our survey in the Average Sales Price category. East Point does continue to out perform College Park and Hapeville in the Number of Units Sold. Both Hapeville and East Point are experiencing a decrease in the Number of Days on the Market.

Here are the results from our June Adams Realtors Intown Market Survey for the Tri-Cities:

College Park experienced a 34% decrease in Average Sales Price from $245,090 in ’07-’08 to $160,665 in ’08-’09. The Average Number of Days on the Market improved from 148 days to 116 days a drop of 22%. The Number of Units Sold fell from 62 to 59 or 5% and Annual Sales Volume fell by 38% from $15,195,580 to $9,479,235.

The East Point market had a 44% drop in Average Sales Price going from $115,847 to $64,795 in the last 12 months. The Average Number of Days on the Market fell from 110 to 99 or 10%. The Number of Units Sold increased by 12% from 217 to 243. Annual Sales Volume in East Point fell by 37% from $25,138,799 in ’07-’08 to $15,747,185 in ’08-’09.

Hapeville’s Average Sales Price fell by 11% from $135,871 in ’07-’08 to $121,115 in ’08-’09. The Number of Days on the Market increased by 9% from 86 days to 94 days.
The Number of Units Sold fell from 34 to 32, a decrease of 6% and Annual Sales Volume was down by 16% from $4,619,614 to $3,875,680 in the year.