Cobb County supply reads balanced on October sales, seller-leaning over 12 months
The median sale price was $425,000, up 1.0% from a year earlier, and a price cut came before 40.1% of sales, the official October FMLS figures show.
By Jeff Crowe
Published · Updated
MARIETTA, Ga. Whether Cobb County favors buyers or sellers depends on the yardstick. Measured against October's closings, the 2,839 active listings equal 4.8 months of supply; against the 12-month sales pace, 4.0 months.
Cobb County recorded 591 closed home sales in October, down 15.6% from 700 a year earlier. The median sale price was $425,000, up 1.0% from $420,600 a year earlier.
“Cobb closed 591 homes in October at a $425,000 median, and the 12-month median sits at $435,000, flat on the year. Supply was 4.8 months on October's pace against 4.0 for the year, so the fall was a bit slower than the year as a whole.”
Our published bands call under four months seller-leaning, four to six balanced and above six buyer-leaning. When the two paces disagree, the month's sales ran off the year's norm, and the 12-month reading is the steadier guide.
The median home closed at 98.7% of its final list price in October, against 99.1% over 12 months. Of the month's sales, 52.8% closed below list. A price cut came before 40.1% of sales, compared with 35.5% over the year.
The longer view is steadier. In the 12 months through October, the median across 8,584 sales was $435,000, unchanged from $435,000 in the prior 12 months.
Sellers listed 1,139 homes in October, down 13.6% from 1,319 a year earlier, while buyers signed 539 contracts, down 21.8% from 689.
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Jeff Crowe, publisher and market reporter
Jeff Crowe writes about Georgia home sales from the official monthly FMLS run. Jeff is a licensed real estate agent with CENTURY 21 The Avenues, a full-service local brokerage in Calhoun, Ga.