Cobb County’s real estate market has experienced a notable slowdown, leading the Board of Tax Assessors to project a modest 2% increase in the 2025 tax digest. This is a significant decrease from the 8.52% growth observed last year.
Outgoing Chief Assessor Stephen White illustrated the market’s deceleration by comparing it to a vehicle’s speed: “Two years ago, I told you the county’s real estate market was traveling at 55 miles an hour; last year, I said it was going 35, and this year, we’re at 20 miles an hour.”
Several factors contribute to this cooling trend:
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Home Sale Prices: The average home sales price in Cobb County increased by only $20,000 over the past year, bringing the average to nearly $500,000. This contrasts with a $50,000 increase observed two years ago.
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Property Reassessments: Fewer homeowners will see their property values reassessed this year, and the average increase for those reassessed will be smaller compared to previous years.
These developments suggest a stabilization in Cobb County’s real estate market, moving away from the rapid growth experienced in recent years.