The September 2011 Intown Atlanta Market Survey measures market activity and changes for the residential real estate market as a whole from September 1, 2008 to August 31, 2011.
The Average Sales Price for the 12 months ending August 31, 2011 was down slightly from $316,838 last month to $315,404, a ½ of 1% decrease. The Average Sales Price was down 11% from last year’s number of $356,162. On August 31, 2009 the Average Sales Price was $370,323, 17% higher than today’s average.
Average Number of Days on the Market was 85 days over the last 12 months. It was only 83 days in 2009-10. In 2008-09, the Average Number of Days on the Market was 80 days. Thus, over one year, the average was up 3% and the two year change was an increase of 7%.
The Number of Units Sold during last 12 months was 1,515, while in the 12 months ending August 31, 2010, 1,490 units sold. In 2008-09 1,450 units sold. The one year change was up 2% and over two years the number of sales was up 4%.
Annual Sales Volume for the last 12 months of 2010-11 was $477,835,735 compared to $476,887,780 in ’09-‘10 and $421,110 in 2008-09. The one year change was up by .2% and the two year change was positive 13%.
The continued “good news” is that the Average Sales Price has been fairly stable over the last few months. Even better news is that the Number of Units Sold as well as Annual Sales Volume is up slightly over last years numbers. We have noticed a general slow down in the marketplace over the last few months and it will be interesting to see what effect that will have on next month’s numbers.