jmc

Because $ABC$ is isosceles, $BD$ is perpendicular to $AC$ and it bisects $AC$. Thus, $AD=\frac{48}{2}=24$. Now we see $ABD$ is a 7-24-25 right triangle, so $BD=7$. Calculating the area of $ABC$, we get $\frac{1}{2}\cdot 48\cdot 7=24\cdot 7=\boxed{168}\text{sq cm}$.