Home prices in Cobb County are up 9.4 percent from a year ago as the number of sales fell, according to the AJC 2020 Metro Atlanta Home Sales Report.
Steep changes in year-over-year data may reflect the impact of the coronavirus pandemic on the number of homes listed and sold beginning in March 2020. Median home prices recorded from Mar 1, 2019 to Feb 29, 2020 rose by 4.4 percent in Cobb County compared with the previous 12 months.
The median price of a Cobb county home sold in April 2020 was $308,500 compared with $282,000 during the same month a year ago, according to home sales data collected by Smart Real Estate Data of Marietta.
The median price is considered the best reflection of what consumers will find in the marketplace. Median price indicates that half the homes were priced above and half below the midpoint. An average number can be distorted by a few wildly expensive or very inexpensive home sales.
For the year that ended April 2020, sales in Cobb County included 10,537 single-family homes sold for a median price of $310,000, a 6.9 percent increase over the year. There were 2,939 attached homes sold in the county for the year, with a median selling price of $229,000. The closing prices on attached homes, which include condos and townhomes, rose 6.5 percent from a year ago.
Total homes sold in Cobb County included 11,782 existing homes and 1,694 newly constructed homes. The median price for existing homes was $277,000 and for new homes $391,000 over the 12-month period.
As of April 30, 2020, there were 3,870 homes listed on the market in this county. That compares with 4,084 homes listed on the same date a year earlier.
Around the six-county metro Atlanta area, including DeKalb, Cobb, Fulton, Gwinnett, Forsyth and Clayton 71,307 homes were sold in the year ending in April 2020, an 1.2 percent increase from the previous year.
Since 1996, Smart Real Estate Data has been a widely regarded source for residential real estate data in the Southeast. The business provides data to builders, developers, appraisers and bankers. It now covers markets in Georgia, Florida and the Carolinas.
This article was generated automatically by AJC Bot, a computer software application that analyzed structured information, such as data, and applied it to text articles based on templates that were created by AJC writers and editors. An AJC editor reviewed the work before publishing. You can report errors or bugs to homesalesreport@coxinc.com. For more: How the AJC Bot was used for articles in the AJC 2020 Metro Atlanta Home Sales Report.
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