If you are serious about selling your Cobb County Georgia home then you need to look seriously at your competition. As with any statistics, they can be interpreted many different ways. Of course all markets are local. There will be differences between East Cobb and West Cobb. Whether your home is in Marietta, Kennesaw, Acworth, Powder Springs, Smyrna, Vinings, Austell, or Mableton will make a difference in the pricing and marketing of your home.
Here are the most recent sales figures available from Jan '08, according to realist data in FMLS.
Sales Statistics
for COBB County GA |
Realist's most recent recording date for this county is 03/03/2008 |
Single Family Residence |
Time Period | Number of Sales | Median Sale Price |
Jan 2008 | 441 | $212,300 |
Jan 2007 | 822 | $197,950 |
Dec 2007 | 521 | $224,000 |
Dec 2006 | 928 | $199,950 |
2008 YTD | 695 | $210,000 |
2007 | 9,551 | $207,000 |
Condominium |
Time Period | Number of Sales | Median Sale Price |
Jan 2008 | 245 | $207,000 |
Jan 2007 | 364 | $233,200 |
Dec 2007 | 284 | $214,150 |
Dec 2006 | 352 | $207,450 |
2008 YTD | 326 | $206,050 |
2007 | 4,321 | $215,000 |
So for January there were 686 single family homes and condos sold. As you can see that was down significantly from the same time periods in 2007. But nonetheless homes are selling. And believe it or not (I'll do a separate post) Home prices for the area are up slightly.
However here is the part that i think needs to be considered. Like many other parts of the country the foreclosure rate has soared.
Here is the copy from the Marietta Daily Journal for the current foreclosure ads. these are homes currently being advertised for foreclosure on the first Tuesday in April.
Cobb County Legal Notices
0801 Foreclosures (566)
Not all of those 566 will be foreclosed. And some might be commercial properties or land. some of them are complete developments that the builder/developer has defaulted on. However it shakes out, that is whole bunch of homes that will be entering the market as banked owned foreclosure homes. This will be a significant amount of the homes on the market competing against your home and other traditional (non foreclosure) home-sellers. This is the competition.
If you want to sell against highly motivated banks:
1.Your home needs to be in very good to excellent condition. Make it the best choice for prospective buyers
2.You need to price it right. Not necessarily give it away but now is not a time to be greedy by any means. Sell the house for less than what you might want and go make a great deal on the house your buying to make up for it.
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Bob Southard, e-Pro, Realtor ®, Solid Source Realty, Inc. Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Smyrna, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga. Call me for all of your real estate needs.
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