Polk County contract signings down 25.0% from a year ago
The median sale price was $272,500, up 6.9% from a year earlier, and supply stood at 3.8 months on the month's sales pace, according to official FMLS figures for October.
By Jeff Crowe
Published · Updated
CEDARTOWN, Ga. The October contract count in Polk County points down for the months ahead. Buyers signed 24 purchase contracts, against 32 a year earlier, a 25.0% decline.
The October median sale price was $272,500, up 6.9% from a year earlier.
“Polk's 12-month median is up 4.0% to $260,000, and supply is tight at 3.8 months on October's pace. Contracts were 24 against 32 a year ago, which I'll watch in the next run.”
The median home closed at 97.2% of its final list price in October, against 99.0% over 12 months. Of the month's sales, 58.8% closed below list. A price cut came before 41.2% of sales, compared with 39.7% over the year.
With 128 active listings as of 1:20 p.m. ET Nov. 14, Polk County had 3.8 months of supply at October's closing pace, which our published bands read as a seller's market. On the 12-month pace it was 4.0 months, in the same band.
Over the 12 months through October, 385 homes sold at a median of $260,000, up 4.0% from $250,000 in the prior 12 months.
Time to sell ran slower than the year's norm: a median 36 days in October, against 31 days over 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.