We just passed the first quarter of 2016 so I wanted to provide a market update for Cobb County, the Atlanta Metro area and Paulding County. Overall, we’re seeing a lot more listings popping up than we have seen in the last five years.
There are 1,700 news listings as of March 2016 (1,500 more than the average).
Inventory is at 2,300 homes, which is below the average.
The median sale price has risen by $40,000 in the last five years, and now sits at $235,000.
There were 886 closed sales in March, which is lower than last March 2015.
There are 12,000 new listings as of March 2016 (2,000 more than the average).
There are 23,000 homes available, which is 3,000 homes below the average.
Average sale prices in Atlanta have risen by $40,000, and the average is now $208,000.
A total of 6,100 sales closed in March.
There are 440 new listings in March 2016.
There are 880 homes available, which is actually above the five-year average
Average sale prices have risen by $39,000 in the last 5 years, and now stand at $158,000
Overall, low inventory is affecting our market right now and sellers are getting good prices for their homes. This is great for sellers, but buyers will also be blessed with ultra-low interest rates that will help to boost their affordability. However, rates are expected to rise by the end of the year, so now is the time to buy!
We have compiled detailed Housing Market Reports for the Atlanta MSA, Cobb County and Paulding County. To obtain a copy of the 1st Quarter Housing Market Report click on the Report below.
We can also run an even more detailed report for your specific neighborhood. If you are interested in obtaining a detailed report please call Connie Carlson at 404-480-8512 or email [email protected]