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Amidst the Dalton/Whitfield County’s decelerated pace in closed sales and stagnant growth in active inventory, our market has experienced a noticeable decline in the average sold price to list price percentage. This percentage dropped from 99% in August to 97% in September, signifying that sellers have had to be more flexible with their list prices to stimulate buyer interest.
The market had recently seen back-to-back months at a 99% Average Sold to List Price Percentages in July and August. However, September’s 97% mirrors the performance in June, reflecting a period characterized by lower sales volume.
Both June and September shared the commonality of lower sales volume. June witnessed the lowest volume of closed sales in 2023, with 38 closed transactions, while September ranks as the second lowest monthly sales volume, with 40 closed sales. This correlation underscores the fact that as demand weakens, the percentage of the list price that sellers can expect to receive may decrease.
On a positive note, Pending Sales increased by 2 units month-over-month from September to October. This uptick in Pending Sales could potentially translate into more closed sales and increased demand in the forthcoming months. However, it’s important to acknowledge that the holiday season typically represents a slowdown in the real estate market. If sellers fail to adjust pricing in accordance with current market conditions, the trend of a lower Sold/List Percentage may persist.
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
