I’ve pulled some interesting statistics for Smyrna zip codes 30080 and 30082 regarding attached homes, condos, and townhomes for sale or sold in both zip codes. The numbers show some nice signs of an overall improving market for attached 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, as did the amount of properties sold. Properties pended went up, though. Looking back to April of 2011, there’s a 100% increase in the number of properties under contract. If we compare the same February to April quarter to 2011, we see that the number of properties listed for sale is significantly lower- 42% lower actually. The amount of properties sold this spring versus last has increased 17% and the number of properties pending or under contract is also up a full 39%.
In the second graph, we see a slight increase in the price of the properties that sold. Prices increased 3.4% in April. Days on the market (meaning how long between when a property was listed for sale and when it sold) decreased almost 31% in April. In comparing April 2012 to April 2011, we see the prices of the properties sold is about the same. The amount of time it took for properties to sell is much lower, however.
Looking to the third graph, we can compare the months of inventory. 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. There was a slight increase of 6% in April. Over the course of the last 12 months, however, months of inventory has changed pretty drastically– down a total of 47%.
In my upcoming posts, I will be sharing more statistics and information on the housing market in Smyrna in both the 30080 and 30082 zip codes. 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.