In our October 2010 survey of the Tri-Cities markets, East Point was the only market that experienced a year over year increase in Average Sales Price. East Point was also the only market that had a year over year decline in Average Number of Days on the Market while the College Park market was unchanged over the last two years. College Park and Hapeville had an increase in the Number of Units Sold on a year over year basis. College Park was the only market to show an increase in Annual Sales Volume.
Here are the results from our October 2010 Market Survey for the Tri-Cities:
College Park had a 1% decrease in Average Sales Price from $132,107 in 2008-09 to $131,432 in 2009-10. Since 2007-08, the Average Sales Price was down 39%. The Average Number of Days on the Market was unchanged at 116 over the last two years. The Number of Units Sold rose from 56 units to 60 units in the last 12 months. The Annual Sales Volume in College Park was up by 7% from $7,397,992 to $7,885,920 over the last 12 months and down 45% over the last 24 months.
The East Point market had a 17% increase in Average Sales Price from $54,470 to $63,461 in the last year. Going back 24 months, East Point experienced a 34% decrease in Average Sales Price. The Average Number of Days on the Market went from 91 to 81 or an 11% drop. The Number of Units Sold decreased from 244 in ’08-‘09 to 189 in ’09-‘10, a decline of 23%. Annual Sales Volume in East Point had a 10% drop from $13,290,680 in 2008-09 to $11,994,129 in 2009-10. Over the last 24 months, Annual Sales Volume was off 47% in East Point.
Hapeville’s Average Sales Price was down from $99,655 in 2008-09 to $81,657 in 2009-10 or 18%. The decline in Average Sales Price from 2007-08 to the present was 32%. The Number of Days on the Market increased from 93 to 104 or 12%. Over the last 24 months, the average Number of Days on the Market increased by 18%. The Number of Units Sold increased slightly over the last year from 27 to 29 properties. In the period October 2007 to September 2008, 40 properties sold. Annual Sales Volume dropped by 12% from $2,690,695 to $2,368,053 over the last year. Over the last 24 months, Hapeville’s Annual Sales Volume is down by 50%.