The March 2010 Adams Realtors Intown Market Survey covering the Intown Atlanta Residential Market continues to have a negative tone. For the 12 month period from March 2008 to February 2009, the Average Sales Price was $388,036. From March 2009 to February 2010 the Average Sales Price was $357,841, a fall of 8%
The Average Number of Days on the Market was up by 3% from 79 to 81. The February report for the prior 12 months had 80 days as the Average Number of Days on the Market so this category increased by 1 day over the last month. The Number of Units Sold fell from 1,710 in 2008-2009 to 1,473 in the last year, a decline of 14%. In February, the figure for the previous 12 months was 1,482. Thus, 9 fewer units sold over the last 12 month period than in the previous 12 month period that ended 30 days ago. This is a reversal of a positive trend that had occurred over the last several months.
Total Sales Volume for the market was down 20% from $544,594,306 in 2008-09 to $433,086,151 in 2009-10. This month’s Sales Volume number represented a decrease of .4% over February’s annual total of $435,160,505.
The year over year numbers still paint a negative picture of the Intown Atlanta market. The month over month comparison continues to show a flattening of the market, an indication that the market is bouncing along the bottom and is ready for an upturn!
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Our next posting will look in detail at the Intown South Single Family Residential Market.