Smyrna Vinings July Home Sales Recap

I get asked this question a lot, so I thought we’d start a series that will cover monthly Smyrna Vinings home sales, including some pretty graphs that will cover some fun things like Smyrna Vinings homes sold, active listings and months of inventory. Finally, we’ll let you know what actually sold. It seems that there is so much negative press about the economy, real estate, jobs reports, etc. that most people seem to of the opinion that nothing is selling. So let’s get started.

As you can see, we’ve been tracking the market for quite some time. Part of the job when you want to ensure our team is the Smyrna Vinings local market expert. This chart shows you the past 12 months of home sales at any given point. As you’ll notice, the green bar is 2007 and we were selling a fair amount more homes in 2007. Sales dropped in 2008, with the drop becoming more pronounced toward the last quarter of 2008. That would be the beginning of the financial meltdown. 2009 home sales started off about 32% off the level just two years previously in January 2007. We saw Smyrna Vinings home sales continue to drop in 2009, but then leveling off in late summer and actually seeing sales pick up toward the end of the year. Typically, you expect sales to be higher in the late Spring and early Summer, but that hasn’t been the case in 2007-2009. The late surge in 2009 was due largely to first-time homebuyer incentives. Finally, in 2010, we’re starting to see a bit more of a traditional market with sales increasing late Spring to early Summer. The other point to take away from this chart is that a lot of Smyrna Vinings homes are still selling.

The  Active Listings chart depicts Smyrna Vinings homes currently for sale. The general shape of the annual graphs are pretty consistent with what we would expect with more homes for sale during the late Spring and early Summer months. What we’ve seen occur in 2010 is that fewer homeowners have decided to sell their home. Some may feel like it’s time to stay put and some may feel like they just can’t sell in this market. 2010 inventory levels are at an all time-low for the summer months in comparison to the last three years. 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.

One other important statistic that we like to track is how we track the health of the Smryna 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 were close to a seller’s market at the beginning of 2007, with the highest amount of bloat and most severe buyer’s market in July of 2009 with significant improvement in 2010. We’re still in a buyer’s market, but we’re essentially at 12 months worth of inventory versus 16 months just a year ago.

Finally, while these graphs are pretty insightful, we want to let you know what has sold each month. So here’s a quick recap of the Smyrna Vinings homes that sold in July.

OK, well that’s your Smyrna Vinings home activity recap. 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.

Aaron Hofmann
Cell: 770.653.9601

Atlanta Communities
Office: 770.240.2001

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