Our May 2011 Intown Atlanta Market Survey measures market activity and changes for the residential real estate market as a whole from May 1, 2008 to April 30, 2011.
The Average Sales Price for the 12 months ending April 30, 2011 fell from $306,754 last month to $305,060 this month, a .56% decrease. The Average Sales Price was down 15% from last April’s number of $357,416. On April 30, 2009 the Average Sales Price was $379,051, almost 20% higher than today’s average
Average Number of Days on the Market was 86 days over the last 12 months. It was only 81 days in 2009-10. In 2008-09, the Average Number of Days on the Market was 78 days. Thus, over one year, the average was up 6% and the two year change was an increase of 10%.
The Number of Units Sold during last 12 months was 1,458, while in the 12 months ending April 30, 2010, 1,528 units sold. In 2008-09 1,584 units sold. The one year change was off by 5% and over two years the number of sales was down 8%.
Annual Sales Volume for the last 12 months of 2010-11 was $444,777,609 compared to $485,356,146 in ’09-‘10 and $472,782,132 in 2008-09. The one year change was a negative 8% and the two year change was negative 6%
The market, as reflected in this month’s report, seems to be taking one step forward and two steps back. After several months of positive movement, all of this month’s indicators were negative. Our company’s single family residential business is up by about 3% over year to date 2010. In the last month, we have seen a spike in properties going “under contract”. If our experience is reflective of the market as a whole, then the numbers in our June monthly report should show some improvement. We are cautiously optimistic!!
Our next report will examine the Intown South neighborhoods