West Cobb Housing Market Gaining Steam in 2013

| February 4, 2013 | Reply
Image of FMLS Area 74.

Image of FMLS Area 74.

Is the West Cobb housing Market Improving in 2013?

The West Cobb area is known for its newer construction,  lower density of people, less traffic congestion, and a more suburban/rural feel.  West Cobb housing markets stats offer a value driven model compared to closer-in locations like East Cobb. You simply get more house for the money and those values are typically a reason to move to West Cobb.  Homes are priced 10% and 25% less expensive than many East Cobb alternatives.  The schools are fantastic but aren’t as well known as East Cobb. In most studies, you’ll find Harrison High school seems to be the top ranking school academically on the west side of the county.

While the East Cobb housing market has been in full recovery mode for at least a year, West Cobb has come along more slowly. In the 4th quarter of 2012 however, 111 homes sold over $300,000 in area 74. Compare that to just 82 sales in Q4 of 2011, that’s an increase of 35% in the number of homes sold. Area 74 is a real estate agent map that encompasses some of the most expensive housing stretching from Acworth and Kennesaw south and west of Cobb Pkwy heading East to the Marietta Square.  This area includes higher end neighborhoods such as Marietta Country Club, Overlook at Marietta Country Club, Hickory Springs, Eagle’s Crest, Highlands at Hamilton Township, Aviary, and more. The area is served by Kennesaw Mt High School, Harrison High School, Allatoona High School, and Marietta High School along with several top performing elementary schools.

Inventory remains low so pristine houses for sale with nice yards, like much of Cobb these days, are hard to find. When something stellar does go on the market, it sells quickly and for a high sales price to list price ratio. I’m starting to see more and more multiple offers on regular seller owned properties. Foreclosures are almost non-existent above $300,000 and short sales, if in a great neighborhood, will receive several offers the first day or so on the market with many buyers not even looking at the property before making an offer.  21% of homes over $300,000 in the West Cobb housing market of Acworth, Kennesaw, and Marietta sold in less than 30 days

UNDER CONTRACT signs are everywhere at the new Ashton Woods Community called Heritage at Kennesaw Mountain. You can walk to the trails at the Kennesaw Mountain national park and have the best West Cobb location to 75. In this upscale “spec builder” community, homes are being built from $450k to over $600k in an area which once was supposed to house some of Cobb’s most exclusive and elite housing. The real estate crash allowed Ashton Woods to purchase this property for a fraction of it’s original price and put upper level professionals in a fantastic place to live.

As always, if you have any questions regarding the West Cobb Housing Market or real estate market in general, feel free to give me a call at 770-419-1986 x453. Thanks for taking the time to read my blog.

 

 

 

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Category: Kennesaw homes for sale, West Cobb Real Estate

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