Smyrna Vinings Home Market Update – January

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Smyrna Vinings Home Market Update

Once again it’s time for our update on the latest 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.

Now that we’ve hit the Winter real estate market in Smyrna Vinings, we should start to see inventories continue to reduce in the Smyrna Vinings market in homes, condos and townhomes. This is not always a result of improved sales, but rather the fact that fewer sellers want their homes on the market over the holiday season and the additional fact that fewer buyers are usually looking at this time of the year.

This past month in the Smyrna Vinings home market we had a decrease in the number of active listings compared to last month, but we had a small increase in months of inventory to 12.45 months. We have 633 active homes in Smyrna Vinings compared to 652 in December.

Inventory is heavily weighted by new construction as well as the steady flow of foreclosures and short sales hitting the market. We’re continuing to see prices come down as a result.

New construction in this price point include Cottage Garden, Walker Street Manor, Morris Commons, Sherwood Park, 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, Cottages at Parkview Village, Barnes Mill, Collins Lake Estate and Wakefield Estates.

After a 1% decrease in condo listings last month, there was a 7% decrease this month. The Smyrna Vinings condo and townhome market, decreased by 27 units over last month, with a total of 377 units now on the market compared to 404 in December. Months of inventory have decreased slightly to 16.69 months, which still has a way to go to get back to a healthy market.

Economic news has improved interest rates dramatically. Downward movement of rates signal a great buying opportunity.

If you’ve thought about selling your home, be sure to contact us. While the statistics aren’t great, homes are still getting sold. 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 hesitate to contact us.

Click here if you’re ready to begin your Atlanta home search.

The H2 Realty Group is exclusively partnered with Keller Williams Realty, the third largest real estate company in North America (according to REAL Trends). 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.