Smyrna Vinings Townhome and Condo Sales July Recap
So we covered Smyrna Vinings home sales in July the other day, so let’s take a look at the Smyrna Vinings townhome and condo market. So we have the same graphs and analysis of the townhome and condo market, including townhomes and condos sold, active listings and months of inventory. And just with the home, we’ll let you know what actually sold. It seems that there is so much negative press about the economy, real estate, jobs reports, etc. that most people seem to of the opinion that nothing is selling. So let’s get started.
As you can see, we’ve been tracking the market for quite some time. Part of the job when you want to ensure our team is the Smyrna Vinings local market expert. This chart shows you the past 12 months of condos and townhomes sales at any given point. As you’ll notice, the green bar is 2007 and we were selling a fair amount more condos and townhomes in 2007. Sales dropped continuously in 2008, while 2009 stabilized and picked up in the fourth quarter largely due to the first-time home buyer tax credit. Finally, in 2010, we’ve seen continuing improvement. One thing that is interesting in the condo and townhome market is that you don’t see as much cyclicality during the year like you expect in the single family home market. One other point to note with the townhome and condo market is that while they’ve been hit harder by short sales and foreclosures, they’ve also recovered quicker in sales than the single family home market. This can be attributed to first-time home buyers finding these properties to be more affordable and a nice way to transition into the world of home ownership.
The Active Listings chart depicts Smyrna Vinings condos and townhomes currently for sale. You’ll note that total active listings peaked in 2008, which can be explained based upon sales dropping significantly in 2008, which resulted in Smyrna Vinings townhomes and condos sitting on the market longer. In 2009, we saw the active listings drop significantly and this can be tied to the economic uncertainty, which resulted in a lot less development of new condos and townhomes for sale in the Smyrna Vinings market. This trend has continued into 2010. What we see now in the current market is that active listings are at a lower level in 2010 than in any of the past four years. One things that means, is less competition if you want to sell in today’s market. If you’ve thought about selling and just aren’t sure, be sure to contact us or find out how much your home is worth.
One other important statistic that we like to track is how we track the health of the Smryna Vinings townhome and condo market. Months of inventory is a calculation that takes the current amount of homes for sale and divides that by the number of homes that have sold in the last 12 months. What the result means is if no more homes were listed, how many months would it take, based upon the past 12 months activity, to sell all the homes currently for sale. A result of 6 months is considered a healthy market, less than 6 months a seller’s market and more than 6 months, a buyer’s market. What we can see from the chart above is that we were closest to a seller’s market at the beginning of 2007, with the highest amount of bloat and most severe buyer’s market in January of 2009 with significant improvement coming at the end of 2009 and into 2010. In fact, if you were paying attention to the last two graphs, with higher sales and lower inventory, it would naturally result in an improved months of inventory ration. We’re still in a buyer’s market, but we’re essentially at 10-11 months worth of inventory versus 17 months just a year and half ago.
Finally, while these graphs are pretty insightful, we want to let you know what has sold each month. So here’s a quick recap of the Smyrna Vinings condos and townhomes that sold in July.
- 3300 Windy Ridge Parkway , Atlanta GA 30339 located in Horizon at Wildwood
- 5852 Riverstone Circle , Atlanta GA 30339 located in Riverstone at Wildwood
- 6433 Bennington Bluff Court , Mableton GA 30126 located in Providence
- 463 Vinings Estates Drive , Mableton GA 30126 located in Vinings Estates
- 1180 Dove Point Court , Mableton GA 30126 located in Legacy at the River Line
- 4229 Laurel Creek Court , Smyrna GA 30080 located in Laurel Creek
- 142 Westchester Drive , Smyrna GA 30082 located in Westchester Commons
- 4224 Laurel Creek Ct SE , Smyrna GA 30080 located in Laurel Creek
- 4439 Wilkerson Manor Drive , Smyrna GA 30080 located in Vinings Ridge
- 4730 LEGACY COVE Lane , Mableton GA 30126 located in Vinings Estates
- 4220 Laurel Creek Court , Smyrna GA 30080 located in Laurel Creek
- 2501 Bridlewood Drive , Smyrna GA 30080 located in Chadsworth
- 423 Creekview Trail , Smyrna GA 30082 located in Creekside at Vinings
- 2546 Bridlewood Lane , Smyrna GA 30080 located in Chadsworth
- 3621 Vinings Slope , Atlanta GA 30339 located in Vinings Main
- 5260 Kershaw Court , Smyrna GA 30080 located in Carriage Hill
- 3503 Stonewall Place , Atlanta GA 30339 located in Stonewall
- 3621 Vinings Slope , Atlanta GA 30339 located in Vinings Main
- 1727 Fair Oak Way , Mableton GA 30126 located in Regency At Oakdale Ridge
- 4805 West Village Way , Smyrna GA 30080 located in Flats at West Village
- 5651 Cobblestone Creek Place , Mableton GA 30126 located in Cobblestone Creek
- 3300 Windy Ridge Parkway , Atlanta GA 30339 located in Horizon at Wildwood
- 3150 WOODWALK Drive , Atlanta GA 30339 located in Flats at West Village
- 910 Mill Pond Drive , Smyrna GA 30082 located in Mill Pond
- 35 Arbor End , Smyrna GA 30080 located in Hillsdale
OK, well that’s your Smyrna Vinings condo and townhome activity recap for July. Hope that was helpful and don’t hesitate to contact us if we can help you sell your Smyrna Vinings condo or townhome or find your new Smyrna Vinings townhome or condo.
5852 Riverstone Circle , ATLANTA GEORGIA 30339 located in Riverstone at Wildwood
6433 Bennington Bluff Court , MABLETON GEORGIA 30126-7272 located in Providence
463 Vinings Estates Drive , MABLETON GEORGIA 30126 located in Vinings Estates
1180 Dove Point Court , MABLETON GEORGIA 30126 located in Legacy at the River Line
4229 Laurel Creek Court , SMYRNA GEORGIA 30080-6590 located in Laurel Creek
142 Westchester Drive , SMYRNA GEORGIA 30082-5050 located in Westchester Commons
4224 Laurel Creek Ct SE , SMYRNA GEORGIA 30080-6459 located in Laurel Creek
4439 Wilkerson Manor Drive , SMYRNA GEORGIA 30080-6451 located in Vinings Ridge
4730 LEGACY COVE Lane , MABLETON GEORGIA 30126 located in Vinings Estates
4220 Laurel Creek Court , SMYRNA GEORGIA 30080-6459 located in Laurel Creek
2501 Bridlewood Drive , SMYRNA GEORGIA 30080-7372 located in Chadsworth
423 Creekview Trail , SMYRNA GEORGIA 30082-4885 located in Creekside at Vinings
2546 Bridlewood Lane , SMYRNA GEORGIA 30080 located in Chadsworth
3621 Vinings Slope , VININGS GEORGIA 30339 located in Vinings Main
5260 Kershaw Court , SMYRNA GEORGIA 30080-7402 located in Carriage Hill
3503 Stonewall Place , ATLANTA GEORGIA 30339 located in Stonewall
3621 Vinings Slope , VININGS GEORGIA 30339 located in Vinings Main
1727 Fair Oak Way , MABLETON GEORGIA 30126-5746 located in Regency At Oakdale Ridge
4805 West Village Way , SMYRNA GEORGIA 30080 located in Flats at West Village
5651 Cobblestone Creek Place , MABLETON GEORGIA 30126 located in Cobblestone Creek
3300 Windy Ridge Parkway , ATLANTA GEORGIA 30339 located in Horizon at Wildwood
3150 WOODWALK Drive , ATLANTA GEORGIA 30339 located in Flats at West Village
910 Mill Pond Drive , SMYRNA GEORGIA 30082-3831 located in Mill Pond
Possibly Related Posts:
- 322 Smyrna Vinings Condos and Townhomes Sold
- Vinings Open House – 3803 Stonewall Terrace
- Live/Work/Play in West Village
- Vinings Main Condos Selling with New Pricing
- Approved Smyrna Short Sale: Buyer Wanted
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