If It's Wednesday, It Must Be Market Conditions Wednesday!

Spotlight on SMYRNA!

Another Market Conditions Wednesday Report for another popular city in the north metro Atlanta area – SMYRNA!

As you may know, one of my New Year’s resolutions is to provide a consistent Market Snap Shot of one of Atlanta’s metro cities each Wednesday all year. With the completion of this one, I’m 6 for 6 in 2011! Hey…only 46 more to go, but who’s counting, right? Well, me. I’m counting.

In 2010, I started spot-lighting individual cities in the Atlanta metro area. As the year progressed, this project didn't get the weekly focus that was originally intended. I’m continuing and attempting to be better in 2011 and I’m still on tract for achieving the goal!

In 2010, we reviewed market conditions affecting the cities of Acworth, Alpharetta, Atlanta, Austell, Ball Ground, Canton, Cartersville, Conyers, Covington, Cumming, Dallas, Dunwoody, Holly Springs, Hoschton and Kennesaw.

So far in 2011, we started the year with the spot-light on the city of Lawrenceville on January 5th, followed by Marietta on January 12th, Powder Springs was next on January 19th, we reviewed the city of Roswell on January 26th and Sandy Springs on February 2nd. Just scroll back in the archives to review the details of Actives, Pendings and Sold properties on the day each city was reviewed.

Today the spotlight is on the city of SMYRNA.

Smyrna is one of the closest suburbs to Atlanta, located in Cobb County near the northern arc of the perimeter or northern intersection of I-285 and I-75 which is also the site for the popular Cobb Galleria and Cumberland Mall facilities along with high rise office buildings.

The cities of Vinings, Marietta, Mableton, Sandy Springs and the affluent Buckhead area are all close by. At the time of the 2007 census, the population of Smyrna had grown from 40,499 in 2000 to 49,534 in just seven years.

In addition to the Cobb Energy Performing Arts Center, Smyrna also borders the start of the Silver Comet Trail which is popular for bicycling and walking. Some extensions of the trail have been built further into Smyrna to expand the access to the trail. "Market Village" in the city center often has open-air concerts and festivals.

The Atlanta Bread Company has its headquarters in Smyrna as well as Eaton Corporation and IBM. Headquarters for Home Depot, Weather Channel, Cbeyond, and Travelport are all headquartered in the neighboring Cumberland Community Improvement District (CID). One "fun-fact" that most people don't know is that Smyrna was also the site of the world headquarters and offices of the now defunct World Championship Wrestling. A Lockheed Martin plant is located nearby in Marietta as well as Dobbins Air Reserve Base and Naval Air Station.

To give you a frame of reference, it might interest you to know that as I write this there are currently 61,610 homes on the market and actively listed in the entire Atlanta metro area today including homes currently available and on the market in SMYRNA.

Likewise, according to the FMLS, there is a total of 427 single family homes actively listed and on the market in Smyrna today. There are also 323 condo / town homes on the market and actively listed in Smyrna today.

Actively Listed Single Family Homes
This week, actively listed single family homes in Smyrna range in price from $15,000 for a 3 bedroom/1 full bathroom 1953 vintage ranch style home requiring a complete renovation to $2.2 million for a beautiful family estate on more than 12 acres with 2houses, pool, small lake, fruit and Cyprus trees. This property backs up to a new Super Kroger and could be further developed.

Actively Listed Town Home / Condos
This week in Smyrna there are currently 323 condo / town-home properties actively listed for sale. These homes range in price from $22,900 for a 2 bedroom/1 full and 1half bathroom home at Cumberland Town homes. This property was built in 1984, needs some TLC and updating, but would be ideal for a first time home-buyer who likes to entertain. On the other side of the coin, the highest priced town home property currently listed is Smyrna is located at One Ivy Walk and was built in 2008. This property was originally priced at $725,000 and has been reduced to $699,900. This property offers rare panoramic views of the Buckhead skyline! This is a stunning townhome built by Wieland. It has never been lived in, but was/is owned by foreign investors. Truly brand new! The covered roof top terrace offers an outdoor fireplace, 4th floor flex space, wonderful bricked-in rear courtyard perfect for entertaining. You can walk to shops and restaurants. There are amazing upgrades throughout this "Argonne" town home. Perhaps best of all this town home also offers an Elevator to all levels. This is truly a must see if you are considering a town home in Smyrna!

PENDING SALE
On February 9th, there are currently 90 single family homes Pending Sale in Smyrna. These homes range in price from $65,000 to $395,900. Likewise, there are 53 Condo/Town-Homes Pending Sale today in Smyrna priced from $28,000 to $298,900.

SOLD Properties -- Single Family Homes
From January 1st 2010 through December 31, 2010 a total of 574 single family homes SOLD and Closed in Smyrna. The highest priced home to sell in Smyrna during the year was originally listed at $2.1 million and sold for $1.450 million or 69% SP/OLP%. It closed after 537 days on the market on 6/14/2010. The lowest priced home to sell during the year was an investment property located at Wells sub-division. This 1953 vintage ranch style home with 2 bedrooms / 1 full bathroom needed a total renovation. This home sold on 6/23/2010 after only 6 days on the market for 100% cash. It was originally listed at $18,750 and sold for $17,750.

SOLD Properties -- Condos / Town Homes
From January 1st 2010 through December 31st 2010, a total of 37 condo / town homes were sold in Smyrna. Priced ranged from $17,250 to $685,000.

Single Family Homes Sold In 2011
From January 1st to today, 32 single family homes have sold in Smyrna with prices ranging from $35,900 to $400,000.

Condo Homes Sold in 2011
From January 1st to today, 23 condo / town home properties SOLD and closed in Smyrna. Prices ranged from $18,000, to $295,000.

As you can clearly see, homes are selling in Smyrna, GA. Call me for a tour of Smyrna homes or questions regarding the Smyrna or Atlanta metro real estate market.

Sara Hibbard is a licensed Realtor in the State of Georgia and works in the Atlanta metro area. Call Sara with your many questions regarding the Atlanta metro real estate market in general or specifics regarding the buying / selling process. Sara Hibbard looks forward to assisting all your real estate needs when the time is right for you. Sara can be reached any time by calling 770-399-8108 or e-mail at sara@sarahibbard.com. Sara Hibbard is Glad Georgia Real Estate Is On Your Mind!