Looking at the Cobb County Market on a macro-level versus a micro-level, we noticed a huge difference. I want to share some stats with you about the market that I found interesting.
Today I’m bringing you a Cobb County market update.
Many of you always ask me what the market is like. Looking at it on a macro-level versus a micro-level, there is a huge difference. I want to share some stats about our Cobb County market with you that I found interesting.
The number of active listings was a lot lower in February than in June, and that’s just because more people put their homes on the market in the spring, which feeds over into the summer months. In February, we had 1,800 homes on the market, whereas in June, there were 2,600 homes.
Inventory has started to rise in the past few months, but we’re still under four months’ worth. The good news for sellers is that anything under six months is considered a seller’s market. At six months, it’s considered a balanced market, and over six months is considered a buyer’s market. We are definitely still in a seller’s market today.
In Cobb County, a price point of over $750,000 is a buyer’s market, so that can give you a good opportunity if you need to sell a $500,000 home but you want to move up into a higher-priced home to really get in with a lot of inventory and better footing for negotiation.
In January 2017, the close price to list price was 98.1%, which was the lowest this year. The high was in June, at 99.2%. Things just sell more quickly in the spring, then close in the summer, which brings the list-to-sale ratio up.
Our low point for months’ worth of inventory was in June, with 2.2 months. The high was 4.1 months in October.
The number of listings sold in January and October were the two lowest months, at only 500 sold. The highest was in June, at 1,700 homes sold. This indicates that things really heat up over the summer, but there are always people buying and selling year-round in Cobb County
If you have any other questions about this or any other topics, please give me a call or send me an email. If you’d like to submit an idea for a future post, contact me and I’d love to create one. Have a great day!