Smyrna Vinings condo and townhome sales were huge in 2016, setting new records. Much like the Smyrna Vinings single family home market, Smyrna Vinings condo and townhome sales continue to be spurred by low interest rates. Sales are even higher than last year, which was more than triple the sales from just four years ago.
Pending home sales were down at the end of December 2016, but that’s not at all uncommon for the holiday season. With interest rates on the rise, look for sales to continue to show strength early in 2017. If you’re interested in new construction, here are all the latest Smyrna Vinings new construction condos and townhomes for sale.
Buyers are finding it harder to resist today’s low interest rates and the attractive prices. It really is the perfect opportunity for Smyrna Vinings condo buyers.
The Active Listings chart depicts Smyrna Vinings condos and townhomes currently for sale. Much like single-family home market, listings have increased, but not to be alarmed. There is certainly a need for more Smyrna Vinings condos and townhomes on the market. Even with the recent increase, it’s still a seller’s market.
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. And if you’re looking to buy, inventory is thin and you’ll be fighting over the best properties with other buyers.
One other important statistic that we like to track is how we gauge the health of the Smyrna Vinings townhome and condo 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.
Throughout 2016, inventory has been extremely low with less than 2 months of inventory. With sales continuing to grow, this ratio has remained very low, indicating we’re still in a seller’s market.
That’s your Smyrna Vinings condo and townhome activity recap for December 2016.
Hope that was helpful and don’t hesitate to contact us if we can help you sell your Smyrna Vinings condo or townhome or find your new Smyrna Vinings townhome or condo. And don’t forget that we offer the most extensive Smyrna Vinings condo and townhome search in the area. And for those currently in the market, here are Smyrna Vinings condos and townhomes just listed for sale.