Cobb County's home sales dropped more than 20.2 percent, while home prices in Cherokee County increased 2.1 percent
It's a buyer's market in Cobb.
Sales of new and used homes dropped more than 20.2 percent in Cobb County in 2007. Still, overall prices eked up 1.3 percent.
Sales of new homes in Cobb fell from 4,125 in 2006 to 3,090 last year, a 25.1 percent decline. Resales were down 18.5 percent in the same period, from 11,467 to 9,350.
Median prices of new homes in Cobb rose 4 percent, from $294,822 to $306,620, while resales fell 1.1 percent, from $188,000 to $186,000, according to data from SmartNumbers for the Atlanta Journal-Constitution's 2008 Home Sales Report.
In adjacent Cherokee County, new home sales dropped 27.1 percent, from 3,214 to 2,344 last year, and resales declined from 3,434 to 2,777, a 19.1 percent drop, according to the report. Median prices for new homes in fast-growing Cherokee rose from $244,950 to $250,000, or 2.1 percent, while resale prices edged up from $182,000 to $187,000, or 2.7 percent.
Total sales were down 21.2 percent in Fulton County, 16.3 percent in Forsyth and 29.6 percent in Gwinnett, according to the SmartNumbers data.
Every ZIP code in Cobb County except for two showed a drop in the number of sales from 2006 to 2007.
And three fourths of the ZIP code areas had lower sales numbers than in 2003.
Smyrna-Vinings, ZIP code 30339, fared best with a 22 percent increase in number of house sales. The total median price in that ZIP rose 57 percent from 2006 to 2007. In resales, fewer than half of Cobb's ZIPs saw a decrease, with 30106 showing the biggest drop, 6 percent, from 2006 to 2007.
Labels: Cherokee COunty, Cobb County, Home Sales
# posted by
Brian Vanderhoff @ 8:32 AM
