The other day, I shared some interesting statistics for Smyrna zip codes 30080 and 30082 regarding attached homes, condos, and townhomes for sale or sold in both zip codes. Today, I’d like to share some information on single family detached homes for sale or sold in Smyrna zip code 30082. Again, the numbers show some nice signs of an overall improving market for residential properties.
Heading into the spring selling season, the numbers of homes sold and pended (under contract) steadily rose. In April, we saw the inventory of properties for sale go down. Properties pended (under contract) went down a little bit from March. Properties sold went up 19%, though. Looking back to April of 2011, there’s a 16% increase in the number of properties under contract and a 3% increase in properties that sold. Compared to a year ago, there’s also a significantly lower inventory of homes for sale on the market right now. Inventory has gone down 31% since this time a year ago. That’s good news if you’re considering selling your home right now.
In the second graph, we see more good news. The sales price of homes compared to their original listing price went up 11% from March. Days on the market (meaning how long between when a property was listed for sale and when it sold) increased 2%, but we’re talking 81 days versus March’s 79. That’s less than 3 months and not bad.
Looking to the third graph, we can compare the months of inventory. These numbers are really interesting. Months of inventory is derived by dividing the total number of listings by the number of sales, which results in the number of months of inventory left. Months of inventory went down 33% since a year ago and 20% since March. That’s the lowest number on the graph since February of last year. That correlates with another story I was just reading that lists Atlanta as one of the top 10 cities in the US with the largest decline in inventory over the last year.
In my upcoming posts, I will be sharing more statistics and information on the housing market in Smyrna in 30080 and the Mableton market. In the meantime, if you’d like more detailed information on a specific neighborhood or another metro area, feel free to email me at John@PetersenPartners.com or visit www.PetersenPartners.com.