Smyrna Vinings Home Market Update – October

Welcome back!

What’s new in the Smyrna Vinings home market. In the table above, we have shown by zip code for both single family homes and condos the amount of homes currently active and resulting months of inventory.

Months of inventory indicates the number of months it is estimated to take to sell all active homes currently listed based upon the amount of homes sold in the past year in their respective zip codes and price points. More than 6 months of inventory typically points to it being a buyer’s market.

I know for all those trying to sell their home or thinking about selling, this is the last thing you’ll want to hear, but the market continues to worsen in both single family homes and townhomes and condos in the Smyrna Vinings market.

This past month in the Smyrna Vinings home market we saw a 3% decrease in active listings compared to last month but a worsening in the months of inventory to 10.63 months. We now have 765 active homes in Smyrna Vinings compared to 788 in September.

As noted previously, some areas are still heavily weighted due to so much new construction that has entered the market at a price point that was not common in the Smyrna Vinings home market. New construction in this price point include Morris Commons, Sherwood Forest, Brookside Park, The Cottages at Market Village, West Haven, Cottages at Lois Pointe, Woodbridge Crossing, Medlin Place, Vinings Estates, Stonehaven at Vinings, Stonecrest Manor, The Estates at Ellis Wade, Kensington Green, West Village, Spring Street Village, Rileys Walk, Walker Street Cottages, Collier Place, Concord Lake Village, Parkview Village, Barnes Mill, Collins Lake Estate and Wakefield Estates.

After a decrease in condo listings last month, there was another decrease, but don’t get too excited. The Smyrna Vinings condo and townhome market, however, decreased by only one unit over last month, with a total of 438 units now on the market compared to 439 in September. However, much like the home market, condo and townhome months of inventory has increased further to 13.27 months.

What to look for? The market, while overall doesn’t look that healthy, does have numerous patches of very healthy and vibrant segments. In fact, under $400,000 in homes and under $300,000 in condos and townhomes continue to lead the local market in health.

However, now more than ever, it’s imperative that your home is positioned properly in the marketplace. If you have any questions on how best to do that, don’t hesistate to contact us. The fallout from the liquidity crunch on the mortgage industry is still of effect. Also expect to see the inventory amounts continue to decrease over the next couple months, but I would not expect an improvement in the actual months of inventory, rather it will probably worsen as sales typically slow going into the fall.

The H2 Realty Group is exclusively partnered with Keller Williams Realty, the fourth largest and fastest growing real estate company in North America (according to the August 2005 issue of REALTOR Magazine). The H2 Realty Group provides services to home buyers and home sellers in the north metro Atlanta area including Smyrna, Vinings, Buckhead, Midtown, Brookhaven, Marietta, Mableton, Kennesaw, Sandy Springs, Roswell, Alpharetta, Duluth and Norcross. All tools and resources can be accessed at www.H2realty.com.