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The Dalton/Whitfield County residential real estate market is displaying mixed trends in both Active Inventory Median Days on Market (DOM) and Closed Sales Median DOM. The Closed Sales Median DOM decreased from 24 in August to 17 in September, while the Active Inventory’s Median DOM trended upward from 46 in August to 50 in September.
Analyzing these trends in isolation provides only a partial perspective of the overall market dynamics. To gain a more comprehensive understanding of the reasons behind these shifts, it’s imperative to compare and contrast data. One valuable approach is to look back at the number of closed transactions in September and compare it to August. This reveals a 23% decline in sales month-over-month.
Generally, when sales decline, newer listings tend to sell more quickly than those that have lingered on the market with limited interest. This pattern may arise because buyers who possess a clear sense of what they want or have an urgent need tend to act promptly. Conversely, buyers without a sense of urgency may prefer to wait for favorable price adjustments or for their needs to become more pressing.
Conversely, when sales decline month-over-month, the Active Inventory’s Median DOM typically experiences a slight increase, unless there is an influx of new listings entering the market. In our local market, there hasn’t been a significant influx of new listings. Consequently, we’ve observed the Active Inventory’s Median DOM rising for three consecutive months.
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!
Jacob B. Mitchell
Cell: 706-581-6401
Office: 706-226-5182
Email: AgentJacobMitchell@gmail.com
www.RealtorJacobMitchell.com
Coldwell Banker Kinard Realty
