In today's Coffee with Connie we are looking at the 3rd Quarter Market Statistics for the West Cobb County area.
Overall we have seen an 18% increase in the number of homes sold this year versus last year. We have also seen over 100% in the number of homes sold between $500k and $700k. Its also worth noting that the West Cobb housing market is experiencing greater growth in homes sold than the nation and the Atlanta MSA. I believe with the Braves moving to Cobb County and with the abundant commercial/retail development we will continue to see home sales increase.
Currently the "supply" of homes on the market for buyers to choose from is not keeping pace with the demand for housing. We are still in a seller's market in all price categories under $500,000. That's good news if you are considering selling your home.
The median sales price has been increasing, but it is not yet to the levels we saw in 2007.
The number of days it takes to get an acceptable offer continues to decrease in most of the price categories. Of all the listings that closed the sales price was 96.5% of the original list price, and they were under contract in a median 34 days. However, that received an offer without having to do a price reduction got 98.5% of the list price and were only on the market 12 days. This highlights the importance of pricing your home right when you initially put it on the market.
Keep in mind that what may be happening in your specific neighborhood may be very different. So, if you want a more detailed analysis for your home please call us at 678-631-1812.