All of the Tri-Cities markets experienced a year over year decline in Average Sales Price. College Park and East Point had a decrease in the Number of Days on the Market. East Point was the only market not to see a decrease in the Number of Units Sold. Every market experienced a drop in Sales Volume with Hapeville having the smallest decrease.

Here are the results from our September Market Survey for the Tri-Cities:

College Park experienced a 35% decrease in Average Sales Price from $226,484 in ’07-’08 to $146,863 in ’08-’09. The Average Number of Days on the Market fell from 155 days to 117 days a drop of 25%. The Number of Units Sold fell from 57 to 54 or 5% and Annual Sales Volume fell by 39% from $12,909,588 to $7,930,602 in the last year.

The East Point market had a 43% drop in Average Sales Price going from $99,037 to $56,179 in the last year. The Average Number of Days on the Market fell from 108 to 92 or 15%. The Number of Units Sold was virtually unchanged at 228 in ’07-’08 and 227 in ’08-‘09. Annual Sales Volume in East Point dropped by 44% from $22,580,436 in ’07-’08 to $12,752,633 in the last 12 months.

Hapeville’s Average Sales Price was down by 7% from $116,273 in ’07-’08 to $107,840 in ’08-’09. The Number of Days on the Market increased from 86 to 97 in the last year or 13%. The Number of Units Sold fell from 37 to 31, a decrease of 16%. Annual Sales Volume was down by 22% from $4,302,101 to $3,343,040 in the last 12 months.