Forsyth County buyers negotiated below list more often in October

CUMMING, Ga. Sellers in Forsyth County gave ground at the closing table in October. 71.6% of 206 sales closed under the final asking price, above the 12-month share of 60.8%.

The October median sale price was $590,000, down 1.7% from a year earlier.

A price cut came before 45.6% of sales, and the median sale came in at 97.5% of the final list price.

Homes that sold in October spent a median 37 days on the market, slower than the 12-month median of 30 days.

Sellers listed 467 homes in October, down 4.3% from 488 a year earlier, while buyers signed 182 contracts, down 28.6% from 255.

The longer view is steadier. In the 12 months through October, the median across 3,251 sales was $610,990, down 3.0% from $629,870 in the prior 12 months.

With 1,336 active listings as of 1:20 p.m. ET Nov. 14, Forsyth County had 6.5 months of supply at October's closing pace, which our published bands read as a buyer's market. On the 12-month sales pace the figure is 4.9 months, which falls in the balanced (4 to 6 months) band.

In neighboring Fulton County, 846 sales closed at a $480,000 median, up 4.6% from a year earlier.