Smyrna Vinings Home Market Update - July
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’ve seen a minimal 1% increase in active listings compared to last month which now brings the months of inventory to 10.36 months. We now have 758 active homes in Smyrna Vinings compared to 747 in June.
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 Woodbridge Crossing, Medlin Place, 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.
After another big increase in condo listings last month, there was no . The Smyrna Vinings condo and townhome market increased by only one unit over last month, with a total of 435 units now on the market compared to 434 in June. This now puts the condo and townhome months of inventory up to 13.63 months. You may be wondering how the months of inventory jumped so much from last month with only one more active condo on the market. Well, it’s because fewer homes have sold in the last 12 month period, which causes the months of inventory to increase.
What to look for? The market, while overall doesn’t look that healthy, does have numerous patches of very healthy and vibrant segments. 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 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.