Thought we’d take some time to update everyone on the Smyrna Vinings home and condo markets. There’s certainly plenty of negative press, but it’s also important to keep things in perspective. While sales are down compared to a year ago, homes are still selling and buyers are still buying. One key trend we like to track are the trailing 12-month sales.
This creates a trend that is easier to compare year-to-year than monthly sales. For example, it’s much easier to see the normal cyclical movements during the year. We’ll start with the Smyrna Vinings homes market.
First of all, you’ll notice that the blue line is 2007 home sales and the red line is 2008 home sales and you’ll also notice that the red line is a bit lower on the chart than the blue line or 2007 sales. You can see the deterioration of home sales throughout 2007, with a spike in September. But what you’ll also notice is that the 2008 sales trend line is pretty consistent with 2007 including the September spike.
But what I also want to point out is that even though sales are down, it’s not the end of the world. For the twelve months through September of 2008, there were still 745 homes that had sold in Smyrna Vinings. And while that is less than in 2007, that’s still a lot of homes. Sometimes you get the idea from the press that all of the sudden there are no Smyrna Vinings home buyers and that there are thousands of Smyrna homes for sale.
Now, let’s look at the condo market.
One interesting item to note about the Smyrna Vinings trailing 12-month condo sales is that 2007 trend is completely different from the 2007 home sales trend. The 2007 condo sales trend was pretty flat throughout the year and actually ended the year a little higher than it started. 2008, hasn’t been quite as good, however.
We’re obviously seeing a continuing drop in the condos sold during 2008. The question will be whether the condo market will continue to worsen or will it start to level out. But once again, one of the important points to realize is that condos and townhomes are still selling, with 326 having sold in the twelve months through September 2008.
So if you’ve thought about selling, realize that you still can. But it’s important to work with a local real estate expert that understands the market, what sells and how to get it sold. If we can be of assistance in getting your Smyrna home sold, don’t hesitate to contact us.
[tags]Smyrna Homes for Sale, Vinings Homes For Sale, Smyrna condos, Vinings Condos[/tags]
[where: 30080]
[where: 30339]