Embracing 2024 with Confidence: Cobb County's Real Estate Year in Review

Happy New Year to our Cobb County neighbors! As we step into the fresh beginnings of January 2024, let's wrap up warmly and look back at the real estate journey we've taken through the diverse cities of Marietta, Acworth, Kennesaw, Smyrna, Roswell, Mableton, and Powder Springs. 

Here's the lowdown on what the 2023 market data meant for us, and how that impacts our view for the 2024 Housing market in Cobb County.

Median Listing Price: A Story of Growth

Reflecting the strength and desirability of our community, the homes in our county have not just held their ground but flourished. The median listing price in November 2022 was a promising $406,610, and by November 2023, we saw an impressive increase to $463,000 — that's an encouraging growth of approximately 13.87% over the year. This upward trend is a testament to the enduring appeal of our neighborhoods.

Inventory Insight: A Balanced Market

Our inventory levels — reflecting how many months it would take to sell all the homes for sale — have had their rises and dips, but have remained comfortably balanced. Starting at 2.9 months in early 2023 and gently adjusting to 2 months by year's end, we've seen a market that's responsive and ready for both buyers and sellers to make their move.

New Listings: A Selective Approach

In terms of new listings, we've witnessed a slight contraction. From 790 new homes listed in November 2022, the number dipped to 680 by November 2023, marking a decrease of about 13.92%. This tightening of new inventory suggests a more selective market, where quality homes are valued and well-received.

Looking Ahead: Predictable Patterns and Promising Prospects

The past year's patterns give us a clear indication of what to expect as we venture into 2024. The steady growth in home values, alongside a more curated list of new properties, suggests a stable and promising market outlook. And with mortgage interest rates remaining steady or potentially declining, the early months of 2024 are shaping up to be as inviting as our renowned Southern hospitality.

Whether you're considering a property move or simply keeping an eye on the market, Cobb County continues to shine as a beacon of opportunity and quality living. As we embrace the new year, let's stay connected and informed. Remember — each percentage point and every new listing represents a story of our community's growth and the personal dreams of homeowners and buyers alike.

Here's to a year of health, happiness, and homecomings in the homes we love. If you're looking to navigate the Cobb County real estate market, whether buying or selling, I'm just a message away. Let's make 2024 a year to remember in Cobb County real estate!