Fayette County homes took 82 days to sell in October, slower than the year's pace
The median sale price was $430,400, up 3.0% from a year earlier, and sales below list made up 43.5% of the total, according to official FMLS figures for October.
By Jeff Crowe
Published · Updated
FAYETTEVILLE, Ga. The pace of sales in Fayette County slowed in October. Homes that closed had been on the market a median of 82 days, compared with 41 days over the past 12 months.
The October median sale price was $430,400, up 3.0% from a year earlier.
“Fayette homes took a median 82 days to sell in October, double the 12-month pace of 41, and 60.9% followed a price cut. Patience and realistic pricing matter in Fayette right now.”
The median home closed at 100.0% of its final list price in October, against 98.4% over 12 months. Sales below list made up 43.5% of the total. A price cut came before 60.9% of sales, compared with 44.4% over the year.
Sellers listed 68 homes in October, up 3.0% from 66 a year earlier, while buyers signed 22 contracts, up 15.8% from 19.
With 261 active listings as of 1:20 p.m. ET Nov. 14, Fayette County had 11.3 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 8.7 months, in the same band.
Across the trailing 12 months, 360 closings produced a median price of $473,500, up 0.3% from $472,000 in the prior 12 months.
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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.