2012 has kicked off as a busy and fast-paced year in the Smyrna Vinings real estate world. Every day we’re working with buyers and sellers to help them achieve their goals. Good news for sellers is that it’s getting a lot easier to sell your home today and bad news for buyers as the deals are disappearing.
You’re probably asking yourself how that can be when you hear about all the news of foreclosures and short sales and economic uncertainty. In reality, those things are still out there, but what we’re seeing in the Smyrna Vinings housing market is a equalization occurring. We’re getting back to a balanced market, which is considered about six months of inventory. As in December’s Smyrna Vinings real estate update, we are at the lowest inventory levels in the last five years in this area.
If we break down the market into the different price points and zip codes, you’ll see a very strong market in the majority of areas. Overall, we’re at 6.99 months worth of inventory for Smyrna Vinings single family homes in the $200-$750,000 range and at 7.18 months worth of inventory in the Smyrna Vinings condo and townhome market.
In addition, we’ve seen a 38% spike in pending homes compared to last month. In fact, the amount of properties currently under contract is even higher than we saw last summer when sales typically spike. What this is all pointing towards is a very strong real estate market in 2012. One that will be great for sellers and one that will be frustrating for buyers as we’ll continue to see a lot of multiple offer situations and homes that aren’t on the market for long.
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.
That is your Smyrna Vinings homes sales activity recap for January 2012. 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.
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