More Stockbridge buyers signed contracts in October

STOCKBRIDGE, Ga. Contracts are the earliest read on sales to come, and in Stockbridge they jumped in October. Buyers signed 42 purchase contracts, up 35.5% from 31 a year earlier, while closings fell 11.1% to 40.

The October median sale price was $320,250, down 2.7% from a year earlier.

The median home closed at 99.8% of its final list price in October, against 100.0% over 12 months. Of the month's sales, 42.5% closed below list. A price cut came before 42.5% of sales, compared with 42.8% over the year.

With 226 active listings as of 1:20 p.m. ET Nov. 14, Stockbridge had 5.7 months of supply at October's closing pace, which our published bands read as balanced. On the 12-month sales pace the figure is 6.1 months, which falls in the buyer-leaning (above 6 months) band.

Over the 12 months through October, 444 homes sold at a median of $310,000, unchanged from $310,000 in the prior 12 months.

Time to sell ran slower than the year's norm: a median 42 days in October, against 37 days over 12 months.

Countywide, Henry County closed 182 sales at a $360,000 median, up 5.6% from a year earlier.