In our March 2011 survey of the Atlanta in DeKalb markets, none of the markets experienced a year over year increase in Average Sales Price. Candler Park and Lake Claire were the only the neighborhoods that had a decrease in Average Days on the Market. Once again this month, Druid Hills and Lake Claire had an increase in the Number of Units Sold over the last 12 months. These same neighborhoods also experienced an increase in Sales Volume over the last year.
Here is a recap of the Atlanta in DeKalb individual markets:
Candler Park had an Average Sales Price of $388,978 which reflected a year over year decline of 7% and a decline of 14% since February 2009. The Average Number of Days on the Market fell to 85 days, a year over year decrease of 23% and a two year increase of 89%. The Number of Units Sold decreased from 46 to 38 over the last year, a 17% decrease. Sales Volume in the 12 months ending in February 2011 was $14,781,164, which was down 23% over the last year and down 30% from 2008-09’s number.
Druid Hills’ Average Sales Price decreased 7% over the last year to $551,897 from $591,504. It was down 8% from the figure for the year 2008-09. The Average Days on the Market in Druid Hills was up to 103 days from 89 a year ago and up from 71 two years ago. 60 properties sold in this market in the last 12 months. This number was up from 53 in 2009-10 and down from the 74 units that sold in 2008-09. Annual Sales Volume was $33,113,820, a 6% year over year increase and down 26% from 2008-09’s sales volume.
The Average Sales Price in East Atlanta was $175,683 in last 12 months, a decrease of 2% in the last year. The Average Number of Days on the Market this year was 76 days, up from 72 days last year and from 74 the year before. East Atlanta had 93 sales in the last 12 months a 22% decrease over the year ending February’10 and 21% less than the Number of Units Sold in the year ending in February 2009. Annual Sales Volume was $16,338,519, down 23% over the last year and off 31% from the 12 months ending February 28, 2009.
East Lake had an Average Sales Price of $199,297 which is a 5% decrease in value over the last year and also a 5% decline over the last 24 months. The Average Days on the Market was 66 days, an increase of 35% over the last 12 months. 37 properties closed in 2010-11. This was down 14% from the year ending in February 2010. Annual Sales Volume in East Lake was $7,373,989 which was an 18% decrease form 2009-10’s figure and a 31% drop since February 2009.
The Edgewood market experienced a 16% decrease in Average Sales Price over the last 12 months going from an average of $162,658 in ’09-‘10 to $136,779 in ’10-‘11. These numbers were down 8% from the average of $148,092 in ’08-’09. The Average Days on the Market was up to 91 days from75 last year and 67 days two years ago. Edgewood had a 36% decrease in the Number of Units Sold, from 50 to 32 over the last 12 months. The one year period ending February 2009 had 49 sales. The Annual Sales Volume was $4,376,928, a 46% decline over 2009-10’s number and 40% less than 2008-‘09’s Annual Sales Volume.
Kirkwood experienced a 2% drop in Average Sales Price going from $218,516 in 2009-10 to $214,022 in 2010-11. In 2008-09, the Average Sales Price in Kirkwood was $228,360. The Average Number of Days on the Market increased to 97 days from 68 days last year and 68 days in 2008-09. The Number of Units Sold fell 18% over the last year from 126 to 103. In 2008-09, 157 properties sold in Kirkwood. Annual Sales Volume was $22,044,266 in 2010-11, a decline of 20% from 2009-10 and 39% less than 2008-09.
Lake Claire’s current Average Sales Price is $414,898, down slightly from last year’s number of $416,585. The Average Number of Days on the Market was down over the last year from 95 days to 82 days. In 2008-09 this number was 51 days. In the last 12 months 41 properties sold in Lake Claire, up 52% from ’09-‘10. Two years ago, 34 properties sold. Annual Sales Volume was up 51% over the last 12 months from $11,247,795 to $17,010,818. In 2008-09, Lake Claire had a sale volume of $15,895,578.
Our next posting will cover the Intown Atlanta North markets.