Smyrna Vinings condo and townhome sales have been on a strong upward trend for the second half of 2020, setting new record highs each month. Much like the Smyrna Vinings single family home market, Smyrna Vinings condo and townhome sales have held up very well despite all the uncertainty of the coronavirus. Sales are still very healthy and significantly higher than in past years.
Pending condo and townhome sales continued to increase compared to earlier months. And rates have continued to freefall, so expect that to continue to spur activity as we head into 2021. If you’re interested in new construction, here are all the latest Smyrna Vinings new construction condos and townhomes for sale.
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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. Like single-family home market, listings have dropped at a faster rate than the past few years. The decrease in condos and townhomes for sale is starting to become a concern for interested buyers as inventory is very thin. This year’s trend line is a bit unusual compared to some of the prior years, and something we will need to keep an eye on as we move forward.
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.
At the end of November, inventory was still extremely low with only 1.30 months of inventory and this trend is still expected to continue. With sales picking up this year, this ratio has has dropped as we remain in a seller’s market.
That’s your Smyrna Vinings condo and townhome activity recap for November 2020.
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.
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