Smyrna Vinings Condo Sales Hit New Record

Christmas has come and gone, but that hasn’t slowed Smyrna Vinings condo and townhome buyers. In November, the Smyrna Vinings townhome and condo market sales surged to new records. Much like the Smyrna Vinings single family home market, Smyrna Vinings condo and townhome sales continue to be spurred by low interest rates. Sales throughout 2014 have been higher than the previous heights of 2007, which is a huge shift and double the sales from just a couple years ago.

Smyrna Vinings Condos Sales November 2014

As you can see, we’ve been tracking the market for quite some time. We sell a lot of Smyrna Vinings homes, condos and townhomes and one of the major reasons is that we specialize in the area, we know the inventory of homes for sale and understand the trends, statistics and all the local pertinent information necessary for you to make an informed decision.

The green bar is 2007 and we were selling a lot of condos and townhomes back then. 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. 2010 saw the market peak in the late Spring and Summer. Smyrna Vinings condo saw slow and steady improvement in 2012 and took off in 2013. So much so, that we are now at all-time highs. Buyers are finding it harder to resist today’s low interest rates and the attractive prices. It really is the perfect opportunity for a home buyer.

Smyrna Vinings Condos for Sale November 2014

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. Inventory has remained low throughout 2014, which means there isn’t much to choose from for Smyrna Vinings condo and townhome buyers. One interesting point about this is you have 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. And if you’re looking to buy, inventory is thin and you’ll be fighting over the best properties with other buyers.

Smyrna Vinings Condos Months Inventory November 2014

One other important statistic that we like to track is how we gauge the health of the Smyrna 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.

The highest amount of bloat and most severe buyer’s market was in January of 2009 with significant improvement coming at the end of 2009 and throughout 2010. What you can see in the chart above is that months of inventory dropped significantly over the last couple years, with the beginning of 2014 hitting new lows. With the big jump in sales over the past year, inventory hasn’t been keeping up. 2014 has been a year of extremely low inventory.

That’s your Smyrna Vinings condo and townhome activity recap for November 2014.

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. And don’t forget that we offer the most extensive Smyrna Vinings condo and townhome search in the area.

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Santa Claus is Coming to Town

Wondering where Santa is right now. Great news. It appears that Santa is off to a great start delivering gifts to all the children around the world. He is quite busy as we write this as he’s delivering toys in Switzerland right now. So it may be time to start baking the cookies and make those last minute plans for Christmas Eve. Just be sure to get the kids tucked into their beds early tonight. Santa is on his way to the Smyrna Vinings area, so be ready.

If you’re one of those people who have actually lit a fire in their fireplace in this warm weather, make sure you put it out before Santa arrives. He never likes it when his britches get singed.

Also, if you want to keep up to date on Santa’s progress, click here for the Santa Tracker.

And as an added bonus, you can now track Santa on your iPhone or Android phone. There’s an app for that!

Happy Holidays from the team here at SmyrnaVinings.com.

Smyrna Vinings Homebuyers in Holiday Shopping Mood

Smyrna Vinings homebuyers are in that holiday shopping mood. If you’re looking for a Smyrna Vinings home, your fellow house hunters aren’t waiting and you shouldn’t either. Rates are phenomenal and inventory moves quickly. Smyrna Vinings home sales surged in November.  The Smyrna Vinings real estate market has been on quite a resurgence for the past couple years. With US home loan rates remaining low, we expect demand to remain strong and we expect to see a lot of move-up homebuyers taking advantage of the opportunities that 2014 continues to offer.

Smyrna Vinings Home Sales November 2014

This chart shows you the past 12 months of home sales at any given point. As you’ll notice, the green bar is 2007 and we were selling a fair amount more homes in 2007. Sales dropped significantly in 2008, with the drop becoming more pronounced toward the last quarter of 2008. That would be the beginning of the financial meltdown. 2009 home sales started off about 32% off the level just two years previously in January 2007. We saw Smyrna Vinings home sales continue to drop in 2009, but then leveling off in late summer and actually seeing sales pick up toward the end of the year. Typically, you expect sales to be higher in the late Spring and early Summer, but that hasn’t been the case in 2007-2010.

2014 Smyrna Vinings home sales increased in Novemberas buyers continue to jump on the opportunities. A lot of what that tells us is that supply is modulating actual sales as the demand is certainly there. While nationally there has been some concern about which direction the housing market is headed, we’re only heading one way in the Smyrna Vinings real estate market.

Smyrna Vinings Homes for Sale November 2014

The Active Listings chart depicts Smyrna Vinings homes currently for sale. As a general rule, we’ve seen inventory increase in the April to June range and then see the amount of Smyrna Vinings homes for sale reduce towards the end of the year. While sales and months of inventory numbers vary drastically from previous years, the one thing you can count on is that inventory decreases in the last quarter of the year, as indicated above. The big difference of course is that the overall number of homes on the market is just much less than in years past due to homes selling so quickly.

We’ve seen a slight increase in the number of homes for sale in the first half of 2014 and now a slight drop each month in the second half. Sellers are starting to understand that now is a great time to sell and take advantage of the current market.

As sales are improving, we’re also seeing prices increasing as well. We’re going to continue to see more equity sellers in the market and fewer distressed properties as we move forward over the next couple years. This will result in continued low inventory levels as the number of equity sellers that can afford to sell will be outnumbered by buyers eager to take advantage of prices that are still depressed and interest rates that are phenomenal. 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. Less competition is a good thing if you’re ready to sell.

Smyrna Vinings Homes Months Inventory November 2014

One other important statistic that we like to track is the overall health of the Smyrna Vinings home 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 have lower inventory levels right now than at any point in the past five years. Compare that with the highest amount of bloat and most severe buyer’s market in July of 2009 with significant improvement starting in mid-2010 and continuing through today.

In November, inventory levels decreased further, but are tracking very closely with last year. As prices have increased this year, we have seen a big pickup in new construction and an increase in resale activity as more home owners can afford to sell. Technically, we continue to work in a seller’s market based on current inventory levels. What this means as you will continue to see prices slowly rise from here as demand outpaces supply.

That is your Smyrna Vinings homes sales activity recap for November 2014. Hope that was helpful and don’t hesitate to contact us if we can help you sell your Smyrna Vinings home or find your new Smyrna Vinings home.

Click here if you’d like to know what your Smyrna Vinings homes is worth.

Click here to start your Smyrna Vinings home search.

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Vinings Business After Hours December 16th

December 16, 2014
5:30 pmto7:00 pm

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The Vinings Business Association will be holding their December After Hours business networking event at Fifth Third Bank Vinings.

The December After Hours Event will be on Tuesday, December 16th from 5:30-7:00pm. Fifth Third Bank Vinings is located at 2810 Paces Ferry Rd, Atlanta, GA 30339.

Help make a difference for the children at Calvary Children’s Home this holiday season.

All Attendees: Please bring and donate 1 new unwrapped toy as you attend the VBA afterhours on December 17th (Or, see our “Secret Santa” at the Door as You Enter).

The event is for Vinings Business Association members and guests.

Click here if you are interested in becoming a Vinings Business Association member.

Members enjoy the opportunity to meet monthly on the first Tuesday of every month for lunch from 11:30 to 1:30 and a monthly After Hours social on the third Tuesday of every month.

Enjoy an evening of networking with industry professionals in a comfortable, upscale and entertaining atmosphere. Food and Limited After Hour Beverages Included.

No Cost for Members or Guests

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2014 Deck the Halls in Vinings

December 11, 2014
4:00 pmto5:00 pm

christmas ornament

The Vinings Historic Preservation Society invites the children of Vinings to “DECK THE HALLS” on Thursday, December 11, 2014 from 4:00 – 5:00 p.m. at Old Pavilion on Paces Mill Road. Be sure to park at Vinings United Methodist Church two doors down.

Join VHPS for some good old-fashioned holiday fun! The children will make a holiday craft to take home!

Cookies and Juice will be served.

So as you can see, you won’t want to miss this event. All children of VHPS members are admitted free. $3 for non-VHPS members.

Space is limited and reservations are REQUIRED. Reservations for members are available now.

All non-members may make reservations starting December 7th. Call or email VHPS to make your reservations.

R.S.V.P. to 770-432-3343 or vhps1874@bellsouth.net. Please include your children’s names and ages.

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