Coweta County purchase contracts drop 38.6% in October
The median sale price was $393,000, down 1.7% from a year earlier, and supply stood at 5.7 months on the month's sales pace, in the official FMLS run for October.
By Jeff Crowe
Published · Updated
NEWNAN, Ga. Contracts are the earliest read on sales to come, and in Coweta County they slid in October. Buyers signed 27 purchase contracts, down 38.6% from 44 a year earlier, while closings fell 10.2% to 44.
The October median sale price was $393,000, down 1.7% from a year earlier.
“Coweta buyers signed 27 contracts in October, down from 44 a year ago, while new listings rose to 109. That's the gap I'll be watching in the Dec. 14 run.”
The median home closed at 98.5% of its final list price in October, against 99.1% over 12 months. Of the month's sales, 59.1% closed below list. A price cut came before 45.5% of sales, compared with 47.3% over the year.
With 252 active listings as of 1:20 p.m. ET Nov. 14, Coweta County had 5.7 months of supply at October's closing pace, which our published bands read as balanced. On the 12-month pace it was 5.8 months, in the same band.
The longer view is steadier. In the 12 months through October, the median across 524 sales was $390,360, down 0.6% from $392,900 in the prior 12 months.
Time to sell ran faster than the year's norm: a median 36 days in October, against 39 days over 12 months.
Spotted an error? Tell the newsroom. See our corrections policy.
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.