The increased activity seen this Spring in the Smyrna Vinings townhome and condo market has continued this Summer, with July reporting some very positive numbers.
Check out the graph showing the numbers of attached homes (condos, townhomes) for sale, sold, or under contract (pending) over the last year in the 30080 zip code. Initially, it may seem the market is a little slow, but look closely at the graph. The decrease is the amount of homes for sale, which I’ll discuss later in this article. Homes that are under contract or have closed with a successful sales transaction are holding steady. While down slightly from this Spring’s and June’s numbers, the numbers are still higher than a year ago. The numbers for zip code 30082 tell a similar story in the second graph.
For zip code 30082, sales prices of attached homes went up 16.7% in July. That’s 28.5% higher than one year ago. In 30080, July sales prices went up 18.2%, a 66.7% increase from a year ago.
What you can see in the third and fourth graphs is that months of inventory dropped significantly in July. In fact, it’s the lowest it’s been in years. After a significant peak in 2008, followed by a bumpy ride through 2010, inventory levels of attached homes has continued to drop over the last year. The latest drop is due to higher sales this spring and summer with few new listings taking the place of those that have gone under contract or sold. With low inventory levels, some sellers are actually receiving multiple offers.
While it’s still a bit of a buyer’s market thanks to low interest rates and attractive pricing, right now is also a really good opportunity for a seller. Lower inventory means less competition and a better chance at a higher sales price. If you’ve thought about selling, be sure to check how much your home is worth… Buyers can check out area homes for sale by visiting….
We have helped so many Smyrna Vinings homeowners successfully sell their condos and townhomes because we specialize in the area and understand the trends and offer one of the most comprehensive marketing packages out there.
If you have considered selling your Smyrna Vinings condo or townhome, I’m happy to answer any questions you may have. PetersenPartners.com also offers the most extensive Smyrna Vinings condo and townhome search in the area. Whether you are buying or selling, get the latest area information in our comprehensive New Movers digital magazine.
For any buying or selling question you may have, feel free to contact me directly at John@PetersenPartners.com.