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In December, the Dalton/Whitfield County residential real estate market reached a year-to-date high for active inventory, experiencing a modest month-over-month increase of 3 listings. Notably, there was a significant shift in the “month supply” metric, correlating with a year-to-date low in closed sales volume observed in November.
How does the current count of 138 active listings compare to December 2022? While there was a slight increase in the number of active listings, we are still down significantly year-over-year. In December 2022, the market started with 168 active listings, marking a -14.9% decrease compared to the current year. However, there is an uptick in Months Supply, rising from 4.5 in December 2022 to 4.8 in December 2023.
What implications does this have for our local market? The observed increase in Months Supply is anticipated during the holiday season, a period where urgency in moving typically diminishes. Throughout most of the year, the market maintained a lower Months Supply due to low inventory levels, enabling competitiveness. As the holiday season concludes at the end of December, it is forecasted that Months Supply will shrink, driven by an expected rise in demand. However, predicting the magnitude of this shift is challenging, given uncertainties around the number of potential new listings entering the market.
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
