What’s Happening in the Cobb County Market?
I’m very excited to share our new website with you! You can visit LiveLoveAtlanta.com to search homes, learn more about our team, and see what is happening in our area. Our ‘What’s Happening’ blog not only keeps you updated on new homes on the market but also great activities for you and your family in Atlanta.
I am especially proud of the market analysis page. Each month, this page automatically updates with the latest numbers and trends for the Atlanta real estate market. We are halfway through 2016, so I would like to give you a quick update on our market.
If we look at market activity, active listings have dropped 13.5% since the same time last year. However, the number of sold homes hasn’t changed much at all. The market is tightening up even more, which is very interesting. Keep in mind that the market does vary depending on the price range you are in.
Our market analysis page breaks down pricing trends by city. Overall, the median sales price in Cobb County has gone up 6.2%. In Marietta, the median sales price is up 5.8%. If you’re interested in what’s happening in your area, it is really cool to see all these numbers on our website. As time goes on, we will add more and more homes to this list.
Now, price per square foot is actually a better indicator of home value. Just because the median sales price goes up doesn’t mean the value for your home has gone up. The median sales price can go up simply because more high-priced, luxury homes have sold. In Cobb County, price per square foot has increased by 5%. In Marietta, values are up 3.8% and in Kennesaw, the price per square foot went up by 14%.
As for days on market, we have seen a huge drop over the last couple months. Homes are selling very quickly. In Acworth, homes spend an average of 12 days on market, which is a 45% decrease from this time in 2015. In Powder Springs, the days on market dropped 25% year over year to 18 days. Based off these numbers, if you have been thinking about selling your home in Cobb County, now is a great time to do so. It’s also a great time to buy a home thanks to our historically low interest rates.
If you have any questions for me about what’s happening in your specific price range or neighborhood, give me a call or send me an email. In the meantime, take a look around our new website. I would be happy to help you!