Smyrna Vinings Home Market Update - February
Here’s the latest update on 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.
As noted last month, 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 Vinings Estates, Stonehaven at Vinings, Stonecrest Manor, 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.
There is a similar trend in the condo market as we’re seeing the introduction of $500-750,000 condos in the Smyrna Vinings Market. Some of the developments influencing these statistics are Greystone at Vinings, One Ivy Walk and Kensington Green.
Beyond this, while there are variances within each zip code, the inventory amounts for other price points for the Smyrna Vinings home market actually indicates a fairly healthy housing market. Of interest, we’ve seen a slight uptick in the months of inventory in the single family homes over last month. It has increased from 7.02 last month to 7.20 in February. For single family homes, we’ve had a slight increase in active listings from last months update to 578 active homes from 546, while there continues to be no real change in the active condo listings with 301 active condos on the market versus 304 in January.
What to look for? In the coming months, we should see the inventory increase slightly, but you should also expect to see an improvement in months of inventory as we are coming into prime selling season in Atlanta and the market fundamentals for the majority of price points in the Smyrna Vinings home market are fairly healthy.
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.