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Cobb County June Home Sales

Posted by Terry Burger on Wednesday, July 15th, 2009 at 10:04pm.

Cobb County single family home sales were strong in June at 618 sales compared to 515 in May. The June sales represent a 5% year to year drop from 648 sales in 2008, but the largest statistic of note is that between June of 2008 and June of 2009, the average sales price dropped in Cobb County by 13.6%.  The average Cobb home in June of 2009 sold for $244,207 while the June 2008 average sales price in Cobb County was $282,643.

There were 1,312 properties listed in Cobb in June of 2009 compared to 1,693 in June '08.  232 foreclosures were listed in June as well. Of the 618 sales in June, 166 were foreclosures at an average price of $175,817. Foreclosures sold for 94% of the final list price of the home. Non-foreclosure homes sold for an average of $269,323 and 94.1% of the final list price.

Many of the conversations I've had with buyers relocating from other parts of the country revolve around the reality of the local Atlanta real estate market. A lot of folks believe that Atlanta is giving away houses. While prices are down almost 14%, houses are still priced very competitvely. Try to get your best deal, but don't be surprised if the seller is unwilling to reduce the house a tremendous amount. The best deals are now on homes over $500,000 as builders and banks try to move higher priced inventory.

 

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