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In October, the Dalton/Whitfield County residential real estate market exhibited a substantial year-over-year increase in both Median and Average Sales Prices. However, there was a notable dip in the month-over-month average, while the median only showed a minor pullback.
The significant rise in year-over-year sales prices, with both the median and average experiencing over a 7.5% increase, presents a promising outlook for homeowners. This positive trend persists even as demand may have eased due to the continued rise in interest rates. A contributing factor to this trend could be the market’s low supply of inventory, evidenced by the 27.5% Y/Y decrease in active inventory in November 2023.
Examining the average and median sales prices throughout 2023 reveals that we are currently near the middle of the range this month. The median sales prices fluctuated between a low of $216,500 and a high of $272,500, with a notable rise from the early part of the year. Similarly, the average sales price bottomed out in the first quarter of 2023 at $250,220 and reached its peak at $349,119 during the summer months. This month’s statistics could serve as a good indicator of what the overall 2023 numbers will look like.
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
