For so many of us, 2016 was the year to make the big move. No longer were we upside down in our mortgages, but we could sell our homes for profit. It has been a long time coming, no doubt.
With home inventory still so low, it is truly still a sellers’ market in Acworth. It’s been quite a long time since we have seen this: homes being sold at list price or even higher and multiple offers being submitted the first or second day of a listing. I can’t help but think that this will not last forever.
So to sellers who are contemplating making their next move, THIS IS THE TIME! And to potential buyers, purchasing a home could still be within your grasp – and in some cases is cheaper than renting – due to the lower interest rates. So this is also the time to make your move.
The Housing Market
Acworth touches four counties and we need to examine each area separately when looking at the real estate highlights of 2016. Each county truly is its own market. Even Historic Downtown Acworth is a separate and unique market.
In Historic Downtown Acworth, certain streets are considered more desirable and homes on those streets are being sold without reaching the open market. Buyers are knocking on doors presenting offers to sellers. If you happen to own a home on one of those desirable streets – be prepared.
Cobb County, Acworth. The 2016 median home sales price was $208,900. The average number of days homes were on the market: 19. Homes sold: 1,175.
Paulding County, Acworth. The 2016 median home price was $271,875. The average number of days homes were on the market: 34 days. Homes sold: 287.
Cherokee County, Acworth. The 2016 median home price was $179,945. The average number of days homes were on the market: 24 days. Homes sold: 524.
Bartow County, Acworth. The 2016 median home price was $124,000. The average number of days homes were on the market: 23 days. Homes sold: 75.
(The 2016 homes sales data is from FMLS. Numbers do not reflect homes sold under the radar.)
By Malinda Howe, broker and owner of Anchor Realty Partners. Howe is also vice chairwoman of the Acworth Tourism Board.