Atlanta Intown South October 2009

The Intown South market survey for October had Grant Park as the only market that had a year over year increase in Average Sales Price. Cabbagetown only had a slight drop in Average Sales Price since last year. Reynoldstown and Grant Park had small increases in the Number of Days on the Market and Ormewood Park continued to have just a little falloff in the Number of Units Sold. Annual Sales Volume in all of the Intown South markets was down by double digits when compared with October 2008.

Here is a market by market analysis for October 2009:

Cabbagetown’s market experienced a 3% drop in Average Sales Price going from $240,452 in ’07-’08 to $232,420 in ’08-’09. The Average Number of Days on the Market went from 40 to 57, an increase of 43%. The Number of Units Sold fell 33% from 18 to 12. Annual Sales Volume dropped from $4,383,136 to $2,789,040, a drop of 36%.

The Grant Park market had a 3% rise in Average Sales Price over the last twelve months going from $255,824 to $263,212. Average Number of Days on the Market increased from 82 days to 86 days, a 2% climb. The Number of Units Sold decreased by 35% from 134 in ’07-’08 to 87 in ’08-’09. Annual Sales Volume in Grant Park was down by 33% from $34,280,416 in ’07-’08 to $22,899,444 in the last year.

Ormewood Park’s Average Sales Price was down by 11% in the last year, from $246,216 to $219,978. The Average Number of Days on the Market rose from 59 days to 65 days or 10%. The Number of Units Sold decreased by 7% from 70 to 65 and Annual Sales Volume was down by 17% with $17,235,120 in ’07-’08 to $14,298,570 in ’08-’09.

The Reynoldstown market experienced a 15% decline in Average Sales Price, from $212,194 to $180,682. The Average Number of Days on the Market grew by 3% from 68 to 70. The Number of Units Sold dropped by 20% from 40 in ’07-’08 to 32 in ’08-’09. Annual Sales Volume in Reynoldstown fell by 32% from $8,487,760 to $5,781,824 in the last 12 months.

Our next posting will cover the Atlanta in DeKalb markets.