73.3% of Gainesville High home sales in October followed a price cut
The median sale price was $347,745, down 4.2% from a year earlier, and the median home sold in 76.5 days, the official October FMLS figures show.
By Jeff Crowe
Published · Updated
GAINESVILLE, Ga. Most homes that sold in the Gainesville High School attendance zone in October got there only after a price cut. Of the month's 30 closings, 73.3% had at least one reduction, against 48.7% over the past 12 months.
The October median sale price was $347,745, down 4.2% from a year earlier.
“73.3% of October sales in the Gainesville High School district came after a price cut, and the median home took 76.5 days to sell. Sellers there need patience and a realistic price.”
Sales below list made up 53.3% of the total, and the median sale came in at 97.9% of the final list price.
Time to sell ran slower than the year's norm: a median 76.5 days in October, against 53 days over 12 months.
Across the trailing 12 months, 462 closings produced a median price of $384,450, down 4.5% from $402,495 in the prior 12 months.
Sellers listed 86 homes in October, up 56.4% from 55 a year earlier, while buyers signed 25 contracts, down 40.5% from 42.
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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.