July 2023 Residential Sales Report Average List Price/Sold Price % : Dalton, Whitfield County

The Average Sold Price to List Price Percentage dropped by 1%, from 98% to 97%, both Month-over-Month and Year-over-Year. While the decline is small, it shows an active shift in the market, giving buyers more leverage in negotiations.

Buyers and Sellers have performed decently well at remaining parallel to each other on acceptable pricing while facing rising interest rates over the past year, but that could very well be largely due to the consistently low supply of inventory, and as we see an uptick in Active inventory and a decline in M/M sales it is no surprise that we had a decline in the Sold Price to List Price Percentage.

The closer our Average Sold Price to List Price Percentage gets to 100%, the closer buyers and sellers are to our market’s condition and pricing. It is important to stay updated on this statistic if you are either a buyer or seller as it will give you a glimpse of the market’s current climate. Additionally, when you analyze the Sold/List(%) over multiple months accompanied with the Median and Average Sales Price, you will see how buyers and sellers agree on pricing and how it causes home prices to fluctuate.

Remember, the best way to learn about your local market is through a local realtor, not the national media. While there are factors that play into every market, there are many that differ on the local level. So whenever you need to know about the local market contact me!