Smyrna Vinings condo and townhome sales have spent most of the year at monthly all-time highs, but it you notice the trend over the last few months, it’s no wonder that December sales this year were less than last year. Much like the Smyrna Vinings single family home market, Smyrna Vinings condo and townhome sales were affected by spiking interest rates over the past couple months. Sales, while down from July peaks, are still very healthy, which was more than triple the sales from just four years ago.
Pending condo and townhome sales also slowed in December 2018. While interest rates are increasing, they are still fairly low from a historical perspective. And rates have settled back down from their peak this Fall, so expect that to spur activity in the first part of January. 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 very low. The decrease in condos and townhomes on the market is pretty normal for this time of year and but expect inventory to pick back up in early 2019.
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 2018, inventory was extremely low with less than 2 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 December 2018.
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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