East Cobb Homes for Sale – January February 2013

| March 7, 2013 | Reply

East Cobb Homes for Sale – January & February 2013

Terry Burger, East Cobb award winning realtor shares his love of statistics by focusing on the East Cobb homes for sale category for the first couple of months in 2013.

The criteria used in this study is as follows:

  • East Cobb homes were in the Lassiter, Pope, & Walton area
  • Sales had to be listed or sold over $300k to be included.
  • Information is taken from the First Multiple Listing Service and is not warranted in any way

In January, there were 92 new East Cobb homes for sale, 63 homes went under contract or “pending”, and 41 East Cobb homes sold. The 41 sales represents a 100% increase over January 2012 where only 20 homes sold.

In February, 90 new listings went on the market over $300,000, while 70 East Cobb homes for sale went under contract, and 43 East Cobb homes for sale January 2013sold. The February closed transactions are 48% more than the 29 homes that sold in 2012. (The video is an error at 33%)

I created a new concept called a “SS Index” which stands for Shortage/Surplus or Shortage/Supply Index. It’s a simple formula really. Simply take the number of new East Cobb homes for sale for the month and subtract the pending and closed sales. A negative number indicates the “Shortage” which is bad for buyers, good for sellers, and a positive number indicates a “Surplus” which is better for buyers. In January, there is a Shortage Index of -12. In February, that number grew to -23. What that means is that there were not enough East Cobb Homes for sale to meet the buyer demand.

In this situation, buyers either have to seek temporary housing or “settle” for a house that didn’t quite meet all their needs. Home prices are on the rise in 2013 for sellers if inventory conditions continue in this direction.

Search for Homes in East CobbSearch East Cobb homes for sale at CobbCountyRealEstate.com

Watch more videos like this here: https://www.youtube.com/playlist?list=PLD18FFB52503473A9

National Association of Realtors link on Sellers Markets throughout the country

Housing Prices Could Skyrocket 35% without Affecting Affordability – Housingwire.com report

 

 

 

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Category: East Cobb Real Estate, East Cobb realtor videos

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