How much have home values changed in East Cobb?
Home values have seen significant changes since 2004. From 2004, home values rose significantly, only to fall during the collapse of 2007. It is safe to say the value of homes has been on a roller-style="font-size: 12px;">coaster since then. However, some areas have been affected more than others, and house price recovery is not consistent across counties. Many homebuyers and homeowners are not aware of how their home value has changed and if their area has been affected. Do you know if your area was affected or if it has recovered?
This is the question The Washington Post was on a mission to answer. They set out to study the country as a whole and individual neighborhoods and towns. In total, The Washington Post was able to combine data for 19,000 zip codes, and East Cobb was one of them. They were able to create an interactive map that allows potential homebuyers to see how much the area they are interested in has increased in value.
Home values in East Cobb have changed significantly with an increase of more than $77,000 compared to the values that existed in 2004. This is a large increase compared to other zip codes that are featured on the impressive interactive map. For example, Decatur, Georgia, a suburb east of Atlanta has seen a 25% decrease in the price of homes. Meanwhile, Brooklyn, New York has seen a 146% price increase since 2004.
Another study carried out by Zillow.com looks at home values in the East Cobb area and has concluded that the median price value of a home is $406,300 which is an increase of 6.7% over the past year. During their study, Zillow also predicted home values to rise by an additional 2.7% in the following year.
It is estimated that the price per square foot for a home in East Cobb is $176, which is higher than the price per square foot in Marietta, which has an average of $140 per square foot. With these numbers, we can conclude that the home price value in East Cobb will continue to rise in future years. We can also predict that many other counties will follow in East Cobbs footsteps.
However, as these numbers continue to rise, potential homeowners are becoming concerned about their chances of purchasing their dream home. This anxiety explains why many people are looking to increase their dream home budget by as much as three times the original number. Although home values are increasing and potential homebuyers are on the lookout for their dream home without the need to spend over their budget, this has not deterred potential homebuyers from seeking home bidding events in hopes of finding a home for the best value possible.
Although home values in East Cobb have increased, it continues to be a popular area for homebuyers.
|About The Author
While I am not a native Georgian, I have lived in Atlanta since 1991. I was born and raised in Brisbane, Queensland, Australia, then relocated halfway across the world when my family decided to open a business here in the United States. I have lived in the Atlanta metro area since coming to the States and know the area like the back of my hand. I have been licensed and selling Real Estate for over 15 years, and absolutely love my job! I truly enjoy working with people in the quest to sell their current home or purchase the perfect new home they´ve been dreaming of. When I first started my Real Estate career, I worked with one of the highest-producing teams at the largest real estate office in the state of Georgia. While I worked there, I was mentored by an incredible team of successful agents on the "P´s and Q´s" of real estate. It was a wonderful learning experience for me, and ultimately helped me become the dedicated, understanding, and knowledgeable agent that I am today.