Our friends at Realist have tabulated the sales activity of ALL local real estate transactions in Cobb County Georgia, and these results are shown in the table below:
As you can see, the December 2006 Single Family sales are far behind those of the previous year – while the median price slipped slightly. In January, however, the median price increased considerably on roughly 9% fewer sales.
The Cobb County condo market continues to be the surprise, here. While overall year-over-year sales have slipped – the median price continues to climb.
This is becoming a trend – but the cause and effect has not been established. Noted New York appraiser Jonathan Miller, President of Miller Samuel, has indicated that when condo prices fluctuate upward on lower volume – it might be that the best units are the ones that are selling… thus the increase in the median price.
No matter how you look at it – this is an interesting trend.