Smyrna home sales and Vinings homes sales continued their strong showing for 2016, dipping slightly in September from their new highs last month.
Pending home sales remain strong, but have tapered off in the past couple months. Smyrna Vinings new construction homes continue to have a big impact on the market. Here are the newest Smyrna Vinings homes on the market.
With US home loan rates remaining low, we expect demand to remain strong and we expect to see a lot of move-up homebuyers taking advantage of the opportunities that 2016 has to offer.
The Active Listings chart depicts Smyrna Vinings homes currently for sale. As a general rule, we’ve seen inventory increase in the April to June range and then see the amount of Smyrna Vinings homes for sale reduce towards the end of the year. We did see an uptick in the number of homes on the market in September, but nothing to be concerned about at this point.
Sellers are starting to understand that now is a great time to sell and take advantage of the current market. As sales are improving, we’re also seeing prices increasing as well. If you’ve thought about selling and just aren’t sure, be sure to contact us or find out how much your home is worth. Less competition is a good thing if you’re ready to sell.
One other important statistic that we like to track is the overall health of the Smyrna Vinings home market. Months of inventory is a calculation that takes the current amount of homes for sale and divides that by the number of homes that have sold in the last 12 months. What the result means is if no more homes were listed, how many months would it take, based upon the past 12 months activity, to sell all the homes currently for sale.
A result of 6 months is considered a healthy market, less than 6 months a seller’s market and more than 6 months, a buyer’s market. What we can see from the chart above is that we are in a very tight housing market, which generally predicts higher prices to come.
In September, inventory levels increased a bit compared to a couple months ago, but as you can see the impact on the months of inventory is minimal as sales remain strong. As prices have increased this year, we have seen a big pickup in new construction and an increase in resale activity as more home owners can afford to sell, but there are clearly more buyers than sellers right now. We are clearly in a seller’s market based on current inventory levels of 3.3 months of inventory versus a balanced market of 6 months of inventory. What this means as you will continue to see prices rise from here as demand outpaces supply.
That is your Smyrna Vinings homes sales activity recap for September 2016. Hope that was helpful and don’t hesitate to contact us if we can help you sell your Smyrna Vinings home or find your new Smyrna Vinings home.
Click here to start your Smyrna Vinings home search. and if you want to keep up on the latest activity, here are all Smyrna Vinings homes just listed in the past week.