First Market Update of 2020
Each quarter we provide the statistics of what’s happening in the East Cobb real estate market. This is the best way to know the market because we feel it’s our job to enlighten you about what’s really happening out there.
In East Cobb, approximately 3,100 homes were sold in 2019, which is up 1% compared to 2018. Something I enjoyed seeing was that in 2019 we broke records when it came to monthly sales compared to the past three years. We had record-breaking sales in many months, in 2019, which throws out the theory that the middle of the year is the best time to sell because months in the first and fourth quarter broke records too.
Overall, we know that the average sale price went up, though it depends on what school area you’re in. For the first time in over 10 years, the average sale price in the Walton High School District dropped, though it was only by 1%. Over the last 10 years, we’ve seen about 39% growth in the average sale price. The Pope District sales prices increased by 4%, Lassiter went up 2%, Sprayberry went up 3%, Wheeler went up 2%, and Kell went up 6%. Over the last 10 years, Kell’s average sale price rose 95% and had the highest average sale price increase in 2019.
For all the school districts combined, it took about 55 days for a property to sell in 2019. On average sellers also got about 95% of their asking price, though this number has been decreasing over the past four years.
Next quarter will the average sale price continue to decrease in Walton? We’ll find out. That’s it for our overview of East Cobb, but stay tuned for future videos where we analyze the statistics that pertain to specific areas mentioned here.
If you have questions about our market or anything else concerning real estate, please reach out to me by phone or email. I would love to help you!