The “Tri Cities” of College Park, East Point and Hapeville continued to lose value in our March 2009 report. The good news in these markets is that Number of Units Sold in both East Point and Hapeville remained stable.

Here are the results from our March Intown Market Survey:

College Park experienced an 11% decrease in Average Sales Price from $223,423 in ’07-’08 to $198,048 in ’08-’09. The Average Number of Days on the Market improved from 151 days to 123 days, a drop of 19%. The Number of Units Sold fell from 62 to 57 or 8% and Annual Sales Volume fell by 19% from $13,852,226 to $11,288,736.

The East Point market continued its trend of losing value with a 40% drop in Average Sales Price going from $129,517 to $78,329 in the last 12 months. The Average Number of Days on the Market stretched out from 95 to 104 or 9%. The Number of Units Sold remained unchanged at 236 for each of the last 2 years. Annual Sales Volume in East Point fell by 40% from $30,566,012 in ’07-’08 to $18,485,644 in ’08-’09.

Hapeville’s Average Sales Price fell by 15% from $142,415 in ’07-’08 to $120,607 in ’08-’09. The Number of Days on the Market increased by 39% from 66 days to 92 days.
The Number of Days on the Market remained unchanged at 35 and Annual Sales Volume was down by 15% from $4,984,525 to $4,221,245 in the last 12 months.