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West Cobb County Georgia Market Analysis
Summary:
- Number of West Cobb home sales is slightly down ▼
- Average listing price up by approximately $6,600.00± ▲
- West Cobb homes are selling within an average of 2%± of the listing price▲
- Average days on market up by 7± days ▲
- Overall, the West Cobb market is stable
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Detailed Analysis:
Sales slightly down ▼, prices slightly up
▲, average days on market slightly up
▲
Our analysis indicates that the overall the market appears to be stable with the salability rate reducing slightly from 49% to 40% as compared to the market this time last year. That is to say that nearly half of all homes listed for sale since January 1, 2003 has successfully closed. We have experience an average listing price of $204,000.00 with an average sales price of $198,500.00, which is a slim increase from last years average listing price of $196,500.00 and sales price of $191,900.00. Average days on market have seen a nominal increase this year from an average 64 days last year to an average of 71 days on the market.
Homes Sell in Just Over 2 Months on average
Homes in West Cobb County are selling in a little over two months and continue to sell within 2% of listing price. There has been a marginal increase in the sale price of homes and a minor decrease in the number of homes sold.
Bearing this in mind, determining the listing price of a home in today’s market is extremely important. Over pricing a home will cause it to stagnate, remaining on the market for an inordinate amount of time. Conversely, under pricing a home may result in a quick sale but will cause the owner a loss in potential gain that may have been achieved by properly pricing the home to meet market conditions.
A working knowledge of the market is crucial in order to effectively negotiate a sale and/or purchase of a home. The general population does not have the resources or time required to compile and assess the market data. The information provided in this report is useful when determining the overall condition of the market area. However, within each market are sub markets. An accurate analysis of the sub market is necessary when pricing a home for sale or making an offer to purchase.
Hamlin & Company, Inc. has the knowledge and resources necessary to provide you with the information you need to effectively negotiate the sale and/or purchase of your home.
J. Hamlin, Qualifying Broker & Registered Appraiser
770-222-4240 office
770-883-0392 mobile
The data used to compile this report was obtained from ©2002-2003 first multiple listing service, Inc.
Sales and Listing data is based on homes listed and or sold through ©2002-2003 first multiple listing service Inc.
FMLS data is believed to be accurate but is not warranted
©2003 Hamlin & Company, Inc., a Georgia license Broker, Powder Springs, GA,
is a member of ©2002-2003 first multiple listing service, Inc.
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