Smyrna Vinings condo and townhome sales have ticked up a bit over the past few months. Much like the Smyrna Vinings single family home market, Smyrna Vinings condo and townhome sales have been affected by volatile interest rates over the past few months, but with rates hitting two-year lows, expect activity to remain strong. Sales, while down from this time last year, are still very healthy and significantly higher than in past years.
Pending condo and townhome sales increased in August 2019. And rates have settled back down from their peak last Fall, so expect that to spur activity in the Fall of 2019. 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 are increasing at a faster rate than the past few years. But over the last two months, the amount of active listings have decreased quite a bit and are now on par with last year. While this year’s trend line is a bit unusual compared to some of the prior years, but nothing to worry about.
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 August, inventory was still extremely low with only 2.9 months of inventory and this trend is still expected to continue. 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 August 2019.
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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