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In September, the Dalton/Whitfield County residential real estate market exhibited a modest year-over-year increase in both Median and Average Sales Prices. Furthermore, month-over-month prices rebounded with positive increases, following a dip in the previous month.
Notably, both the Median and Average Sales Price increases remained under 3% year-over-year in September. This subtle growth in pricing should be acknowledged as a positive sign for our market, especially in light of the significant increases in interest rates over this period. Our market not only managed to hold its pricing but also experienced a modest rise in sales prices, defying the challenges posed by rising interest rates.
In August, a notable decrease was observed in the month-over-month Average Sales Price, with a decrease of -21.7%. Therefore, witnessing a bounce back from this temporary fall in the subsequent month is not entirely surprising. A similar pattern was seen in the month-over-month Median Sales Price. In August, we experienced a near 7% decline, and in September, the market found its balance with a modest 3.4% increase.
It is crucial to recognize that month-over-month fluctuations are delicate and can shift swiftly in either direction. Nonetheless, they serve as valuable data points to track and understand the market’s dynamic trends.
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
