Fewer Fannin County buyers signed contracts in October

BLUE RIDGE, Ga. Fewer buyers in Fannin County went under contract in October than a year earlier, a sign of where closings are headed. Purchase contracts fell 29.6% to 19, from 27.

The October median sale price was $739,500, up 4.5% from a year earlier.

The median home closed at 96.0% of its final list price in October, against 96.3% over 12 months. Sales below list made up 72.7% of the total. A price cut came before 63.6% of sales, compared with 48.5% over the year.

With 247 active listings as of 1:20 p.m. ET Nov. 14, Fannin County had 11.2 months of supply at October's closing pace, which our published bands read as a strong buyer's market. On the 12-month pace it was 12.4 months, in the same band.

Across the trailing 12 months, 239 closings produced a median price of $699,900, up 5.2% from $665,000 in the prior 12 months.

Homes that sold in October spent a median 82 days on the market, slower than the 12-month median of 66 days.

In neighboring Gilmer County, 34 sales closed at a $417,500 median, down 17.3% from a year earlier.