Real Time Market Trends in East Cobb? Hot or Not?
For an explanation about what Market Action Index (MAI) is and who publishes it click to this earlier post. These charts that I prepared for zip code 30062 and 30068 cover the area we know as “East Cobb”. To someone unfamiliar with the area it may not make sense because most of this area has a Marietta address.
For purposes of tracking though we will include just those two zipcodes to define “East Cobb” for monitoring residential real estate trends. Keep in mind that these charts are only referring to the “top tier” properties in the area. That is defined as the top 25% of the market in terms of sales price, since we specialize in distinctive and luxury real estate, that is the sector we monitor. For a more macro view check out this link and if you want to receive a very detailed report weekly on your overall market please fill out the request form and we will make sure you get it in your email every week.
A Market Action Index (MAI) value greater than 30 typically indicates a “Seller’s Market” because demand is high enough to quickly gobble up available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a “Buyer’s Market” where the inventory of already-listed homes is sufficient to last several months at the current rate of sales.
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About the Author: Cheri Riley is the Founding Partner of the Cheri Riley Group at Atlanta Fine Homes Sotheby's International Realty. She has overseen almost two billion dollars in residential real estate sales either directly or under her management. Her passion is uniting extraordinary properties with extraordinary people.
