Here is another look at the number active listings of East Cobb single family homes by month and year. Think of active listings as a flow. New listings are coming into the system and closed sales are flowing out. The data is captured at the end of each month. However, the most recent month I show here can look a little different next month as it takes about 10 – 15 working days for all the closed sales to be reported. This gives an apples to apples comparison for inventory over time.
2021 is still a strong seller’s market with the lowest inventory levels in the past 5 years.
East Cobb single family Active listings by month/year
Market still strong
According to FMLS, East Cobb has a one month inventory of homes. If we break this down by price range in East Cobb – homes over $900,000 have two months inventory. The Atlanta, East Cobb, and Georgia housing market remains strong.
For now, buyers are getting incredible mortgage rates of 2.75% on average. Despite the ups and downs in the economy brought on by the pandemic, buyers remained determined to purchase homes. Days to sell on average for 2021 in East Cobb is 21 days. 386 homes sold in East Cobb in July 2021 as compared to 377 homes sold in 2020. While prices have increased, many buyers still yearn for a home of their own and do not want to miss the opportunity to lock in low interest rates as a hedge against inflation.
Georgia July Housing Indicators
The Monthly Housing Indicators for Georgia are in for the month of July. As record-high sales increase nationwide, more sellers are listing their homes to take advantage of top-dollar offers. The median sales price increased 18 percent year over year and new listings were up five percent. (Georgia Association of REALTORS® | 6065 Barfield Road, Atlanta, GA 30328)
- New Listings increased five percent to 18,627
- Pending Sales were down nine percent to 14,658
- Closed Sales were down six percent to 15,320
- Inventory levels shrank 33 percent to 20,392 units
- The Median Sales Price increased 18 percent to $305,000
- The Average Sales Price increased 18 percent to $365,934
- Days on Market decreased 56 percent to 22 days
- Months Supply of Inventory was down 40 percent to 1.5 months
- Pending Sales were down nine percent to 14,658
If you want to know what your East Cobb home is worth, call me for a free home evaluation. I live, work and sell in East Cobb.
Lee Ann is a member of Women’s Council of Realtors – Cobb and Cobb Association of Realtors. She is a top producer with Dorsey Alston Realtors specializing in the East Cobb market.
Lee Ann Wynns | East Cobb Realtor®
DORSEY ALSTON, REALTORS®
https://www.dorseyalston.com/agents/lee-ann-wynns/