Gwinnett County inventory looks buyer-leaning on October sales alone
The median sale price was $414,925, up 1.2% from a year earlier, and a price cut came before 41.6% of sales, in the official FMLS run for October.
By Jeff Crowe
Published · Updated
LAWRENCEVILLE, Ga. Read one way, Gwinnett County has 6.1 months of homes for sale; read another, 4.7. The first divides its 3,733 active listings by October's closings, the second by the 12-month average.
Gwinnett County recorded 616 closed home sales in October, down 25.6% from 828 a year earlier. The median sale price was $414,925, up 1.2% from $410,000 a year earlier.
“Gwinnett closed 616 homes at a $414,925 median in October, with 6.1 months of supply on that month's pace and 4.7 on the 12-month pace. That gap tells me October ran slower than the year as a whole.”
Our published bands call under four months seller-leaning, four to six balanced and above six buyer-leaning. When the two paces disagree, the month's sales ran off the year's norm, and the 12-month reading is the steadier guide.
The median home closed at 98.5% of its final list price in October, against 98.9% over 12 months. Sales below list made up 56.8% of the total. A price cut came before 41.6% of sales, compared with 39.5% over the year.
Over the 12 months through October, 9,445 homes sold at a median of $419,500, down 1.3% from $425,000 in the prior 12 months.
Sellers listed 1,285 homes in October, down 13.8% from 1,491 a year earlier, while buyers signed 613 contracts, down 16.7% from 736.
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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.