Real Time Market Trend in Vinings - 30339. Hot or Not?
For an explanation about what Market Action Index (MAI) is and who publishes it click to this earlier post. This chart that I prepared for zip code 30339 covers the area we know as “Vinings Village“. To someone unfamiliar with the area it may not make sense because it has an Atlanta address and there are also neighborhoods with a Smyrna address that refer to their location as Vinings. Vinings Village is bordered by the railroad tracks to the west and the river to the east. Hwy 41 to the north and Log Cabin Road to the south.
Keep in mind that this chart is only referring to the “top tier” properties in the area. That is defined as the top 25% of the market in terms of sales price, since we specialize in distinctive and luxury real estate, that is the sector we monitor. For a more macro view check out this link and if you want to receive a very detailed report weekly on your overall market please fill out the request form and we will make sure you get it in your email every week.
A Market Action Index (MAI) value greater than 30 typically indicates a “Seller’s Market” because demand is high enough to quickly gobble up available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a “Buyer’s Market” where the inventory of already-listed homes is sufficient to last several months at the current rate of sales.
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About the Author: Cheri Riley is the Founding Partner of the Cheri Riley Group at Atlanta Fine Homes Sotheby's International Realty. She has overseen almost two billion dollars in residential real estate sales either directly or under her management. Her passion is uniting extraordinary properties with extraordinary people.
