Stone Mountain's October median jumps 14.0%, but the 12-month trend points the other way

STONE MOUNTAIN, Ga. A single month can mislead on price, and Stone Mountain shows why. The October median rose 14.0% from a year earlier to $285,000; the 12-month median, a steadier gauge, fell 3.2% to $276,000.

A single month can swing on which homes happen to close, so the 12-month figure is the better read on the trend. The last three months, 233 sales, had a median of $288,000.

Closings totaled 69 in October, down 36.1% from a year earlier.

The median home closed at 99.4% of its final list price in October, against 99.6% over 12 months. Sales below list made up 46.4% of the total. A price cut came before 36.2% of sales, compared with 38.3% over the year.

With 337 active listings as of 1:20 p.m. ET Nov. 14, Stone Mountain had 4.9 months of supply at October's closing pace, which our published bands read as balanced. On the 12-month sales pace the figure is 4.0 months, which falls in the seller-leaning (under 4 months) band.

Sellers listed 101 homes in October, up 12.2% from 90 a year earlier, while buyers signed 58 contracts, down 43.1% from 102.

Countywide, DeKalb County closed 486 sales at a $354,950 median, up 7.6% from a year earlier.