Real Estate
How does the Real estate market compare in November 2023 to 2022, and what that means for Buyers and Sellers going into 2024.
Introduction: November data is in and today we look at a detailed examination of the real estate market in Cobb County GA and the bustling region of Metro Atlanta. In today's discussion, we'll navigate through crucial market statistics, shedding light on the current state of our local housing scene, comparing November 2023 to November 2022. The differences in the real estate landscape have been markedly different in the past twelve months. So, let's delve into the numbers that shape the course of real estate in our community.
Key Market Statistics:
Description | Cobb County 2022 | Metro Atlanta 2022 | Cobb County 2023 | Metro Atlanta 2023 | % Change Cobb | % Change Atlanta |
---|---|---|---|---|---|---|
Active Listings | 1344 | 10,203 | 1013 | 8855 | -24.60% | -13.20% |
Closed Sales | 546 | 3145 | 414 | 2821 | -24.20% | -10.30% |
Avg Days to Sell | 34 | 33 | 26 | 30 | -23.50% | -9.10% |
Median Price | $419,250 | $408,000 | $425,000 | $429,000 | 1.30% | 5.10% |
Data sourced from FMLS, GA as of 12.10.23.
Factors Influencing the Market: Higher interest rates and global uncertainties, including the conflicts in Ukraine and the Middle East, contribute to these changes. This has led to the lowest inventory in Georgia's real estate market in years, affecting both buyers' and sellers' strategies.
Analysis for Buyers, Sellers, and Investors: "Interpreting these statistics, buyers should be prepared for a more competitive market, while sellers can take advantage of reduced competition and increasing prices. Investors, consider strategic moves given the upward trajectory of median prices. It's a market rewarding astuteness and adaptability." With fewer homes available, Buyers who need to Buy are seeing challenges finding homes. This is the lowest inventory the Georgia real estate market has seen in years. It also puts sellers in the driver's seat. Sellers who have properly prepared and presented their homes for sale can negotiate favorable terms.
Tips and Recommendations:
Considering a real estate move? We're here to guide you, whether it's buying your first home, selling, or investing. Contact us for personalized advice and explore available properties.
Conclusion: Stay informed in this dynamic market. Knowledge is key to making smart real estate decisions. We're here to help you navigate and succeed.
Start Your New Home Search Now!
Stay up to date on the latest real estate trends.
Atlanta
Navigating the Shifts: What Buyers and Sellers Need to Know About Future Rates
Atlanta
Kick Off the Season with Gridiron Glory and Classic Southern Festivities
Atlanta
How Hosting the Games Transformed Cities and Shaped Their Futures
Atlanta Lifestyle
Designing the Ultimate Game Day Experience: Southern Football Traditions and Home Décor Trends
You’ve got questions, and we can’t wait to answer them.