Cherokee and Fulton counties split on 12-month home prices

CANTON, Ga. On price, Cherokee County has parted ways with Fulton County. The Cherokee County 12-month median fell 2.6% to $485,000 through October.

Next door, Fulton County's 12-month median rose 4.6% to $480,000 over the same period, on 846 October closings.

Cherokee County recorded 279 closed home sales in October, down 16.0% from 332 a year earlier. The median sale price was $485,000, down 3.0% from $499,750 a year earlier.

The median home closed at 98.9% of its final list price in October, against 99.1% over 12 months. Of the month's sales, 52.5% closed below list. A price cut came before 43.4% of sales, compared with 37.1% over the year.

With 1,414 active listings as of 1:20 p.m. ET Nov. 14, Cherokee County had 5.1 months of supply at October's closing pace, which our published bands read as balanced. On the 12-month pace it was 4.1 months, in the same band.

Sellers listed 564 homes in October, up 0.7% from 560 a year earlier, while buyers signed 262 contracts, down 14.9% from 308.