August 2023
The Cobb County real estate market showed a very modest increase in the average sales price for the month of August to $507,829 compared to July 2023, while the average price per square foot to $206 was unchanged..
Housing inventory remains at historic lows. New listings in Cobb County were 1017 for the month of August 2023 compared to 1236 in August 2022 and 1410 in August 2021. Year over year, we are seeing nearly 15% fewer new listings.
Interest rates have continued to rise, pressuring home buyers into carefully considering their options. While there is still demand from first time buyers, those considering a move up or downsizing are still hesitant about listing their homes for sale.
Sellers are forewarned that although inventory is low, buyers are terminating contracts at a high rate when properties fail to meet their expectations during the inspection phase of due diligence.
Marietta
- Average sales price: $540,580
- Average price/sq ft: $202
- Average days on market: 20
Powder Springs
- Average sales price: $395,679
- Average price/sq ft: $181
- Average days on market: 22
Kennesaw
- Average sales price: $479,948
- Average price/sq ft: $197
- Average days on market: 27
Acworth
- Average sales price: $484,207
- Average price/sq ft: $194
- Average days on market: 23
Smyrna
- Average sales price: $521,204
- Average price/sq ft: $230
- Average days on market: 25
Mableton
- Average sales price: $461,260
- Average price/sq ft: $191
- Average days on market: 17
Austell
- Average sales price: $304,561
- Average price/sq ft: $177
- Average days on market: 26
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