East Point has dubious distinction of having the largest overall drop in Average Sales Price in our April 2009 report. The good news is that East Point outperformed its siblings, College Park and Hapeville, in having a positive year over year increase in transactions.

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

College Park experienced a 26% decrease in Average Sales Price from $235,804 in ’07-’08 to $175,261 in ’08-’09. The Average Number of Days on the Market improved from 155 days to 116 days a drop of 25%. The Number of Units Sold fell from 64 to 56 or 13% and Annual Sales Volume fell by 35% from $15,091,456 to $9,814,616.

The East Point market suffered a 42% drop in Average Sales Price going from $127,767 to $73,471 in the last 12 months. The Average Number of Days on the Market fell from 100 to 98 or 2%. The Number of Units Sold increased by 4% from 236 to 246. Annual Sales Volume in East Point fell by 40% from $30,153,012 in ’07-’08 to $18,073,866 in ’08-’09.

Hapeville’s Average Sales Price fell by 8% from $133,846 in ’07-’08 to $123,177 in ’08-’09. The Number of Days on the Market increased by 28% from 71 days to 91 days.
The Number of Units Sold fell from 37 to 31, a decrease of 16% and Annual Sales Volume was down by 23% from $4,952,302 to $3,818,487 in the last 12 months.