The Lake Claire neighborhood was the only Atlanta in DeKalb market that experienced an increase in Average Sales Price over the last 12 months. Lake Claire was joined by Candler Park, Druid Hills and Edgewood as markets that had a lower Average Days on the Market. Kirkwood was the only market that showed an increase in the Number of Units Sold and every market suffered a decrease in Annual Sales Volume.

Here are the results of our March 2009 survey:

Candler Park had a 9% decrease in Average Sales Price over the last 12 months-$486,094 in ’07-’08 to $443,682 in ’08-’09. On a positive note, the Average Number of Days on the Market dropped by 29% from 62 to 44. This reflects a combination of good pricing by sellers and increased demand by buyers. The Number of Units Sold remained unchanged at 45 and Annual Sales Volume was down by 9%-$21,874,230 to $19,965,690.

The Druid Hills market saw a decrease in Average Sales Price from $710,698 in ’07-’08
to $602,261 in ’08-’09, a drop of 15%. The Average Number of Days on the Market
fell by 10% from 79 to 71 and the Number of Units Sold dropped from 80 last year to 74
over the last 12 months, a decrease of 8%. As a result of a drop in price and number of
sales transactions, Annual Sales Volume was down by 22%-$56,855,840 to $44,567,314.

East Atlanta experienced a 9% decrease in Average Sales Price-$224,826 to $203,904.
The East Atlanta market saw a 21% increase in the Average Days on the Market-61 to 74 and a 15% decrease in the Number of Units Sold-135 in ’07-’08 to 115 in ’08-’09. Annual Sales Volume dropped by 23% from $30,351,510 to $23,448,960 in the last 12 months.

The East Lake market suffered an 18% decrease in Average Sales Price from $259,824 to $212,167. The Average Number of Days on the Market increased from 73 to 99, an increase of 36%. The Number of Units Sold fell by 19% from 63 to 51 in the last 12 months. Annual Sales Volume in the market was down by 34%-$16,368,912 to $10,820,517.

Except for a decrease in Average Days on the Market, Edgewood was the worst performer amongst the Atlanta in DeKalb markets. Edgewood experienced a 20% drop in Average Sales Price from $188,487 to $150,138. Average Days on the Market, as mentioned above, fell by 12% from 74 to 65. The Number of Units Sold fell from 59 in ’07-’08 to 48 in ’08-’09, a decline of 19%. Annual Sales Volume went from $11,120,733 to $7,206,624 over the last 12 months, a drop of 35%.

Kirkwood had a decrease in Average Sales Price of 15%-$269,215 to $228,541. The Average Number of Days on the Market increased from 58 to 69 or 19%. The Number of Units Sold increased by 5% from 148 to 155 and Annual Sales Volume decreased by 11%-$39,843,820 to $35,423,855 over the past year.

The Lake Claire market experienced an INCREASE of 9% in Average Sales Price from $428,801 to $467,517. The Average Number of Days on the Market fell by 16% from 61 to 51 and the Number of Units Sold dropped by 29% from 48 in ’07-’08 to 34 in ’08-’09.
Annual Sales Volume for the market fell by 23% from $20,582,448 to $15,895,578 over the last 12 months.

We will look at the results from the Intown North markets in our next posting.