The June 2011 Intown Atlanta Market Survey measures market activity and changes for the residential real estate market as a whole from June 1, 2008 to May 31, 2011.
The Average Sales Price for the 12 months ending May 31, 2011 was up from $305,060 last month to $311,413, a 2% increase. The Average Sales Price was still down 12% from last May’s number of $354,401. On May 31, 2009 the Average Sales Price was $378,208, 18% higher than today’s average. Still the increase of 2% from last month’s number is a very encouraging trend.
Average Number of Days on the Market was 87 days over the last 12 months. It was only 81 days in 2009-10. In 2008-09, the Average Number of Days on the Market was 78 days. Thus, over one year, the average was up 7% and the two year change was an increase of 12%.
The Number of Units Sold during last 12 months was 1,480, while in the 12 months ending May 31, 2010, 1,557 units sold. In 2008-09 1,532 units sold. The one year change was off by 5% and over two years the number of sales was down 3%.
Annual Sales Volume for the last 12 months of 2010-11 was $460,891,620 compared to $497,038,965 in ’09-‘10 and $448,493,098 in 2008-09. The one year change was a negative 7% and the two year change was positive 3%
This month’s report reflected some positive movement. Average Sales Price, although down for last May 2010’s number was up sharply from last month’s 12 month average. The Average Days on the Market figure remained stable. The Number of Units sold was down from last year and up 1.5% from last month’s number. Total Sales Volume was up 3.6% from last month’s number and also up from May 2010’s number. Our company’s residential sales volume, which mostly reflects “intown” sales, is up by 19% year to date over YTD 2010’s figures. If this trend continues over the next several months, then we will have a solid basis for believing that the residential market “in- close” in Atlanta is heading in a positive direction.