What's Happening in the Cobb County Housing Market?

Real Estate

What's Happening in the Cobb County Housing Market?

Is Now a Good Time to Sell Your House?

If you've been thinking about selling your house in Cobb County, this might be the right time. Why? Because we are in a seller's market. This means houses are being sold quickly and for high prices. In fact, compared to last year, houses are selling at prices 2.5% higher!

How Much is Your House Worth Now?

You might be surprised to learn that the average value of a house has gone up quite a bit. Right now, here's what you can expect for different house sizes in Cobb County:

  • 1 Bedroom: $210,000 (8.7% more than last year)
  • 2 Bedrooms: $267,000 (6.8% more)
  • 3 Bedrooms: $351,600 (1.9% more)
  • 4 Bedrooms: $463,900 (4.9% more)
  • 5+ Bedrooms: $665,500 (6.3% more)

What Does High Mortgage Rates Mean for You?

Even though mortgage rates are high now, your house's increased value could be a big help. This is thanks to something called "equity", which is the part of your house you fully own - its value minus what you still owe on your loan. Many people in the U.S. now have about $290,000 in equity because house prices have risen a lot recently.

You can use this equity in two big ways when you move:

  1. Buy a house with cash: If you have a lot of equity, you might not need a new loan to buy your next house, saving you from high-interest rates.
  2. Bigger down payment: Using your equity for a big down payment can mean you don't have to borrow as much, possibly getting you a lower interest rate.

Tips for Buying a House in Cobb County

Even though it's a seller's market, there are still good deals to be found for buyers. Here are some quick facts about the current market:

  • There are 3,363 homes available right now.
  • In August, 1,065 homes were sold, 3.3% more than in July.
  • Many houses (40%) sold below the asking price last month.
  • Houses are selling in about 22 days on average, which is a bit slower than the 16 days we saw last year.

So, if you're looking to buy, be ready to make a quick move to snag a great deal. Talk to a real estate expert to know exactly how much you can afford and to get help finding the best deals.

Find Your Agent

Start Your New Home Search Now!

Setup Your Home Search

Do You Know A Family We Can Help? Let’s Talk

You’ve got questions, and we can’t wait to answer them.

Follow Us on Instagram