If Its Wednesday, It Must Be Market Conditions Wednesday!

As I mentioned last week, one of my New Year’s Resolutions, is to get a momentum going and produce 52 Market Condition Reports for various cities in and around the metro Atlanta area. With this report, I’m 2 for 2! Now if I can just do 50 more reports! If you keep reading them, I’ll keep writing them.

As you may recall, I started spot-lighting individual cities in the Atlanta metro area last year. As the year progressed, this project didn't get the weekly focus that was originally intended. We are still on track to do better in 2011!

In 2010, we reviewed market conditions affecting the cities of Acworth, Alpharetta, Atlanta, Austell, Ball Ground, Canton, Cartersville, Conyers, Covington, Cumming, Dallas, Dunwoody, Holly Springs, Hoschton and Kennesaw. Last week and for the first week in 2011, we added the city of Lawrenceville to the list.

Today the spotlight is on the city of MARIETTA.

Marietta, GA is located in central Cobb County. Marietta is the county seat. As of the 2000 census, the city had a total population of 58,748, making it one of metro Atlanta’s largest suburbs. Census estimates of 2008 indicate a population of 67,021. Marietta is the third-largest of three principal cities (by population) and is included in the Atlanta -– Sandy Springs -- Marietta, GA metropolitan statistical area. Marietta is steeped in Civil War history and offers lots of cultural attractions. Downtown is the town square and former location of the county courthouse. The square is the site of several cultural productions and public events each year. Theatre in the Square is a professional theater, producing a five-show subscription season as well as summer and holiday shows too. The Strand Theatre has been renovated back to its original design and features classical films and other events. The Marietta Museum of History exhibits the history of the city and county. The museum is home to thousands of artifacts including items from various Marietta residents and businesses. The Marietta Gone With the Wind Museum, also called "Scarlett On the Square", houses a collection of memorabilia related to both the book and the film. Also note worthy and a land mark for directions given by locals in the infamous BIG CHICKEN located on the Cobb Parkway.

To give you a frame of reference, it might interest you to know that as I write this there are currently 60,133 homes on the market and actively listed in the entire Atlanta metro area.

Likewise, according to the FMLS, there is a total of 1,940 single family homes actively listed and on the market in MARIETTA. There are also 393 condo / town homes on the market and actively listed in MARIETTA today.

Actively Listed Single Family Homes
This week, actively listed single family homes in Marietta range in price from $20,900 for a 3 bedroom/1 bathroom ranch style "fixer-upper" built in 1947 to $5.8 million for a English-Tudor luxury estate on 8.5 acres with 5 bedrooms / 7 full and 2 half bathrooms, 5 car garage, swimming pool and amenities too numerous to mention. This home does hold the distinction of being the showcase home for the 2010 Roswell Woman’s Club Showcase Home Tour.

Actively Listed Town Home / Condos
This week in Marietta there are currently 396 condo / town-home properties actively listed for sale. These homes range in price from $12,900 for a 2 bedroom/1 full and 1 half bathroom 2-story town home in the Viewpoint West complex, built in 1973. This home needs work and is currently bank-owned. The highest priced town-home in Marietta this week is located in River Place along Columns Drive in East Cobb. This exquisite home is available fully furnished for $574,900 and offers 4 bedrooms and 3 full bathrooms. The home features a Chef’s kitchen with top of the line appliances; surround sound and beautiful views of the Chattahoochee River National Recreation Center.

PENDING SALE
On January 12th at 10:58AM, there are currently 317 single family homes Pending Sales in Marietta. Likewise, there are 42 Condo/Town-Homes Pending Sale.

SOLD Properties -- Single Family Homes
From January 1st 2010 through January 12, 2011 a total of 2,592 single family homes SOLD and Closed in Marietta. The highest priced home to sell in Marietta during the year was originally listed at $4.5 million and sold for $2.4 million or 53% SP/OLP%. It closed after 194 days on the market on 9/13/2010. The lowest priced home to sell during the year was originally listed at $9,900 and sold for $13,150 after the bank-owned property accepted highest and best offer. This was a “fixer-upper” needing lots of work. The home sold for 133% SP/OLP%. The buyer paid 100% cash and the property sold after 21 days on the market and closed on 2/23/2010.

During the month of December 2010, 213 single family homes were sold and closed in Marietta. Prices ranged from $35,000 to $1 million.

SOLD Properties -- Condos / Town Homes
from January 1st 2010 through January 1st 2011 a total of 378 condo / town homes were sold in Marietta. Priced ranged from $14,500 to $475,000. From November 1st through today,61 condo / town home properties have SOLD and closed in Marietta. Prices ranged from $16,000 to $250,000.

During the month of December 2010, 34 condo/town homes were sold in Marietta. Prices ranged from $16,000 to $260,000.

As you can clearly see, homes are selling in MARIETTA.

Sara Hibbard is a licensed Realtor in the state of Georgia. Call Sara Hibbard for specific information about your neighborhood, city, school district, zip code or additional information about the buying / selling process. Sara Hibbard is easily reached at 770-399-8108 or sara@sarahibbard.com. Sara Hibbard looks forward to answering your many questions and assisting you further when the time is right for you.