Smyrna Vinings condo and townhome sales continue to set new record highs on a monthly basis. In March, the Smyrna Vinings townhome and condo market sales tried their hardest to jump off the chart below. 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.
As you can see, we’ve been tracking the market for quite some time. We sell a lot of Smyrna Vinings homes, condos and townhomes and one of the major reasons is that we specialize in the area, we know the inventory of homes for sale and understand the trends, statistics and all the local pertinent information necessary for you to make an informed decision.
2010 saw the market peak in the late Spring and Summer. Smyrna Vinings condo saw slow and steady improvement in 2012 and took off in 2013. So much so, that we are now at all-time highs. 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.
Inventory remained low throughout 2014 with a slight increase in the latter half of the year. Inventory rose slightly through 2015, but we’ve seen a slight pickup at the beginning of 2016. One interesting point about this is you have less competition if you want to sell in today’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.
The highest amount of bloat and most severe buyer’s market was in January of 2009 with significant improvement coming at the end of 2009 and throughout 2010. What you can see in the chart above is that months of inventory dropped significantly over the last couple years, with the beginning of 2016 hitting new lows. With the big jump in sales over the past year, inventory hasn’t been keeping up. With the start of 2016, inventory has been extremely low with less than 2 months of inventory.
That’s your Smyrna Vinings condo and townhome activity recap for March 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.
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