Our November Intown Atlanta Market Survey measures market activity and changes over the last three years. This report looks at the numbers from the market as a whole from November 1, 2007 to October 31, 2010.
The Average Sales Price for the 12 months ending October 31, 2010 was $299,263 a slight drop from last month’s number and down 18% from the October 31, 2009 number of $366,704. On October 31, 2008 the Average Sales Price was $400,421, almost 34% higher than today’s average
Average Number of Days on the Market was 80 days over the last 12 months and 84 days for the period 2008-09. In 2007-08, the Average Number of Days on the Market was 75 days. Thus over one year change was down 4% and the two year change was a positive 7%.
The Number of Units Sold in the last 12 months was 1,539, while in the 12 months ending October 2009 1,460 units sold and from November 2007 to October 2008 1,792 sold. The one year change is a positive 5% and the two year change is negative 14%.
Annual Sales Volume from November ’09 to October ’10 was $460,565,738 compared to $469,864,310 in ’08-’09 and $608,864,310 in ’07-’08. The one year change was down 2% and the two year change was negative 24%
The bright spot in the Intown Atlanta Market is the continued increase in the number of transactions, up 5% from this time a year ago. This helps to offset the deterioration in Average Sales Price over the last two years and the resulting fall in total Sales Volume over the same period. Our crystal ball says that 2011 will bring better job numbers and will result in a more stable real estate market in Intown Atlanta. More on our predictions for 2011 next month.
Our next report will examine the Intown South market