56.3% of Lumpkin County home sales in October followed a price cut

DAHLONEGA, Ga. Price cuts did a lot of the work in Lumpkin County in October. Of 32 homes sold, 56.3% had dropped their asking price at least once, well above the 12-month share of 39.7%.

The October median sale price was $384,950, up 2.7% from a year earlier.

Sales below list made up 59.4% of the total, and the median sale came in at 98.1% of the final list price.

Homes that sold in October spent a median 55 days on the market, slower than the 12-month median of 32 days.

With 157 active listings as of 1:20 p.m. ET Nov. 14, Lumpkin County had 4.9 months of supply at October's closing pace, which our published bands read as balanced. On the 12-month pace it was 4.8 months, in the same band.

Over the 12 months through October, 393 homes sold at a median of $382,000, up 0.6% from $379,900 in the prior 12 months.

Sellers listed 55 homes in October, down 14.1% from 64 a year earlier, while buyers signed 31 contracts, up 29.2% from 24.

In neighboring Hall County, 158 sales closed at a $417,000 median, down 0.5% from a year earlier.