July 2023
The Cobb County real estate market showed a very modest drop in the average sales price for the month of July of just .1% to $493,149. However, there was a slight 2.5% up-tick in the average price per square foot to $206.
Housing inventory remains at near historic lows. New listings for Cobb County were down 24% to 1066 for the month of July.
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.
All this hesitation has driven the average days on market up 57.1% to 22 days.
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Marietta
- Average sales price: $548,516 +1.9%
- Average price/sq ft: $215 +3.4%
- Average days on market: 17 +30.8%
Powder Springs
- Average sales price: $461,469 +1.3%
- Average price/sq ft: $178 -2.7%
- Average days on market: 23 +43.8%
Kennesaw
- Average sales price: $458,871 -6.9%
- Average price/sq ft: $197 +5.9%
- Average days on market: 27 +125%
Acworth
- Average sales price: $485,130 +10.2%
- Average price/sq ft: $195 +4.8%
- Average days on market: 22 +83.3%
Smyrna
- Average sales price: $475,397 -0.4%
- Average price/sq ft: $226 -0.4%
- Average days on market: 19 +18.8%
Mableton
- Average sales price: $395,669 -0.4%
- Average price/sq ft: $185 +1.6%
- Average days on market: 28 +75%
Austell
- Average sales price: $294,509 -4.0%
- Average price/sq ft: $171 -0.6%
- Average days on market: 15 -11.8%
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