The Central DeKalb cities of Avondale Estates and Decatur continued to experience a relatively strong residential real estate market. Pine Lake on the other hand continued to suffer price erosion. The City of Decatur markets of Glenwood Estates and Winnona Park continued to be strong performers while Oakhurst and Great Lakes continued to lag behind the others.

Here are the results of our March 2009 survey:

Avondale Estates had a 3% drop in Average Sales Price from $322,897 in ’07-’08 to $314,275 in ’08-’09. Average Days on the Market grew from 76 to 88 or an increase of 16%. The Number of Units Sold fell from 61 to 58 or 5%. Annual Sales Volume declined by 7% from $19,696,717 to $18,227,950.

The City of Decatur market experienced a 2% increase in Average Sales Price from $382,130 to $389,871 in the last 12 months. Average Days of the Market increased by 1 day from 66 to 67 or 2%. The Number of Units Sold fell by 15% from 267 to 227. Annual Sales Volume in Decatur dropped by 13% from $102,028,710 in ’07-’08 to $88,500,717 in ’08-’09.

The Pine Lake market experienced a 17% price decline over the last 12 months with an Annual Sales Price in ’07-’08 of $155,584 and $128,881 in ’08-’09. The Average Days on the Market in Pine Lake grew by 1% from 105 days to 106 days. The Number of Units Sold fell from 17 units to 11 units or 35%. Annual Sales Volume dropped by 46% from $2,644,928 to $1,417,691 in the last 12 months.

The City of Decatur neighborhood of Glenwood Estates had a 42% increase in Average Sales Price from $338,150 to $480,766. The Average Days on the Market fell from 67 days to 62 days or 7%. Glenwood Estates experienced a 50% increase in the Number of Units Sold from 6 to 9. Annual Sales Volume was up an unbelievable 113% from $2,028,900 to $4,326,894.

The Great Lakes market had a 12% decline in Average Sales Price from $485,500 in ’07-’08 to $426,680 in ’08-’09. The Average Number of Days on the Market increased by 21% from 56 to 68. The Number of Units Sold dropped by 58% from 12 to 5. Annual Sales Volume fell by 63% from $5,826,000 to $2,133,400.

The Oakhurst neighborhood had a slight (1%) decrease in Average Sales Price from $366,614 in ’07-’08 to $362,442 in ’08-’09. The Average Number of Days on the Market fell by 7% from 69 to 64. The Number of Units Sold dropped 27% from 98 to 72 and Annual Sales Volume fell by 27% from $35,928,172 to $26,095,824.

The Winnona Park market experienced a 10% increase in Average Sales Price from $405,816 in ’07-’08 to $447,972 in ’08-’09. The Average Days on the Market increased by 26% from 66 to 83 and the Number of Units Sold increased from 31 to 34 or 10% in the last 12 months. Annual Sales Volume was up by 21% from $12,580,296 to $15,231,048.

Our next posting will cover the Tri-Cities of College Park, East Point and Hapeville.