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March '10 Adams Realtors Intown Atlanta Residential Survey

The March 2010 Adams Realtors Intown Market Survey covering the Intown Atlanta Residential Market continues to have a negative tone. For the 12 month period from March 2008 to February 2009, the Average Sales Price was $388,036. From March 2009 to February 2010 the Average Sales Price was $357,841, a fall of 8%

The Average Number of Days on the Market was up by 3% from 79 to 81. The February report for the prior 12 months had 80 days as the Average Number of Days on the Market so this category increased by 1 day over the last month. The Number of Units Sold fell from 1,710 in 2008-2009 to 1,473 in the last year, a decline of 14%. In February, the figure for the previous 12 months was 1,482. Thus, 9 fewer units sold over the last 12 month period than in the previous 12 month period that ended 30 days ago. This is a reversal of a positive trend that had occurred over the last several months.

Total Sales Volume for the market was down 20% from $544,594,306 in 2008-09 to $433,086,151 in 2009-10. This month’s Sales Volume number represented a decrease of .4% over February’s annual total of $435,160,505.

The year over year numbers still paint a negative picture of the Intown Atlanta market. The month over month comparison continues to show a flattening of the market, an indication that the market is bouncing along the bottom and is ready for an upturn!

For a copy of our monthly “spreadsheet” report, please email me at wtadams@adamscre.comor call me at 404-688-1222.

Our next posting will look in detail at the Intown South Single Family Residential Market.

Posted in: Atlanta Residential Real Estate

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About Us

• As a native Atlantan who grew up in a house built by my grandparents in 1902 across the street from Grant Park, I have always loved the City’s downtown and historic intown neighborhoods. I went to school from the first grade through graduate school in downtown Atlanta.

As a child growing up in the 1950s and 1960s, I witnessed and mourned the decline of those wonderful old “close-in” neighborhoods and their business districts. By the time I was in my early 20s in the late ’60s, I had gotten involved in early intown revitalization efforts in Grant Park under the auspices of a program known as “Model Cities.” After a tour of duty in the Army and Graduate Business School at Georgia State University, I joined the forerunner of the Grant Park Neighborhood Association in late 1974. In the early 1970s most intown neighborhoods were “redlined” by banks and neglected by the local government. The neighborhood revitalization movement in Atlanta was in its infancy. Banks refused to make real estate loans in these “high-risk” neighborhoods. The level of city services was poor and to make matters worse, the city had rezoned many of these neighborhoods from single-family to multifamily residential in the 1950s.

I became a neighborhood activist in Grant Park and, along with others, helped to bring about one of the largest “down zonings” in City history, converting the area back to single-family/duplex zoning from apartment zoning. I was also a community representative and later President of the local Neighborhood Housing Services program, which helped local lenders understand the housing market in the City’s neighborhoods and helped end their practice of not making loans in these communities. I later served as a neighborhood association and Neighborhood Planning Unit (NPU) Chair as well as a board member of the civic groups working to restore the Cyclorama in Grant Park and historic Oakland Cemetery.

All these experiences have had a profound effect on me and the company that I founded in 1979. I had a commercial real estate background but came to realize that strong neighborhoods are vital to a city’s quality of life and its commercial core. Adams Commercial’s approach to real estate has always reflected the values of neighborhood activism. Our transactions involve people, not just numbers. We are in the problem solving and information business. After more than 40 years of service, our goal is to complete our client’s purchase or investment while at the same time adding value to the community through that transaction.

I hope that you find our website to be a helpful tool whether you are planning to buy, sell or are trying to get a good feel for the state of the commercial real estate market in Atlanta. If you have any questions or comments, please e-mail me at wtadams@adamscre.com. If you have an interest in commercial real estate, please visit our Adams Commercial Real Estate Website at adamscre.com.

Thanks,

Bill Adams, MBA, CCIM, ALC, CRB
President
ADAMS COMMERCIAL REAL ESTATE
Atlanta, GA

Our Core Values: Success, Integrity, Wisdom, Dependability, Community

At Adams Commercial we define SUCCESS when our clients get up from their closing with a smile. To accomplish this,  we start by putting the needs of our clients first, which to us is the essence of INTEGRITY. We bring the collective WISDOM of our agents to every real estate deal … wisdom that comes only from the company’s years of business experience and expertise in intown markets. Whether it is showing up at the appointed time or making sure all details are noted and deadlines met, we believe DEPENDABILITY is also an essential ingredient of a successful real estate transaction. We believe that your successful purchase or sale adds value to COMMUNITY. And we are proud to play a role in building and sustaining a thriving community.

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lauren@adamscre.com
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