This posting covers the Central Dekalb communities of Avondale Estates, Pine Lake and Decatur. The survey also covers four of Decatur’s most popular neighborhoods.
The Avondale Estates submarket has been relatively stable for the last year or so. For the twelve months ending on December 31st, the Average Sales Price was down by 3%-$323,699 to $315,367. The Average Number of Days on the Market rose from 77 to 90, an increase of 17%.
The Number of Units Sold fell by 18% from 65 to 53.
Pine Lake experienced a drop in Average Sales Price of 17% in 2008. The Average Sales Price went from $155,584 to $128,881. The Average Number of Days on the Market was very stable going from 105 in 2007 to 106 in 2008 or a 1% increase. The Number of Units Sold dropped sharply from 17 to 11, a 35% decrease in sales volume.
The City of Decatur submarket held up well in 2008. The Average Sales Price rose 3% from $376,330 to $388,265. The Average Number of Days on the Market only increased by 2% from 64 to 65 days. Like most of the larger submarkets, the City of Decatur had less Units Sold in ’08 than in ’07. 222 versus 267 or a decrease of 17%.
The Decatur neighborhood of Glenwood Estates had an 11% increase in Average Sales Price-$393,800 in 2007 to $438,680 in 2008. Average Days of the Market fell from 72 to 61-a drop of 15%. The Number of Units Sold doubled from 5 to 10 in ’08.
The Great Lakes neighborhood in Decatur suffered a Average Sales Price drop of 10% last year-$473,384 to $424,600.The Number of Days on the Market increased by 33% from 60 to 80 and the Number of Units Sold fell from 13 to 4- a drop of 69%.
Decatur’s Oakhurst neighborhood saw it’s Average Sales Price fall from $367,860 to $347,497 or 6%. The Average Number of Days on the Market decreased by 2%. The Number of Units Sold in 2008 fell by 25%-96 in ’07 to 72 in ’08.
Winnona Park was one of the strongest Decatur neighborhood with an Average Sales Price increase of 14%-$393,751 to $449,985. The Average Number of Days on the Market increase from 75 to 78 or 3%. The Number of Units Sold fell from 30 to 31 or 3%.
Our final look at January’s Survey will look at the results from the Cities of College Park and East Point.
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