Just as we reported in March, Smyrna Vinings homes market is off to a busy start in 2016 and that has continued in April. We’re not seeing the steep increase in home sales like we did in early 2015, but that’s because sales are already at a significantly higher amount than last year. If you’re looking for a Smyrna Vinings home, your fellow house hunters aren’t waiting and you shouldn’t either. Rates are phenomenal and inventory moves quickly. Smyrna Vinings home sales are hot despite the weather. The Smyrna Vinings real estate market has been on quite a resurgence for the past couple years. With US home loan rates remaining low, we expect demand to remain strong and we expect to see a lot of move-up homebuyers taking advantage of the opportunities that 2016 has to offer.
This chart shows you the past 12 months of home sales at any given point. Smyrna Vinings home sales have been steadily increasing since 2012. Home sales are now nearly triple the amount of just a few years ago.
The Active Listings chart depicts Smyrna Vinings homes currently for sale. As a general rule, we’ve seen inventory increase in the April to June range and then see the amount of Smyrna Vinings homes for sale reduce towards the end of the year. So while there was a pretty large increase in active homes listed at the end of April, it’s not that concerning since homes are still selling quickly.
Smyrna Vinings homes for sale are starting off 2016 as a very low level. Sellers are starting to understand that now is a great time to sell and take advantage of the current market. As sales are improving, we’re also seeing prices increasing as well. 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.
One other important statistic that we like to track is the overall health of the Smyrna 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 have lower inventory levels right now than at any point in the past five years.
In April, inventory levels picked up slightly, but expect to see that disappear quickly and months of inventory remain low for the entire year. As prices have increased this year, we have seen a big pickup in new construction and an increase in resale activity as more home owners can afford to sell, but there are clearly more buyers than sellers right now. We are a seller’s market based on current inventory levels of 3 months of inventory versus a balanced market of 6 months of inventory. What this means as you will continue to see prices rise from here as demand outpaces supply.
That is your Smyrna Vinings homes sales activity recap for April 2016. 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.
Click here to start your Smyrna Vinings home search. and if you want to keep up on the latest activity, here are all Smyrna Vinings homes just listed in the past week.
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