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The Dalton/Whitfield County residential real estate market is witnessing a continued downward trend in pending sales, with figures dropping to 65 at the start of December, compared to 68 at the beginning of November. This represents a -7.6% decline in pending transactions, raising questions about the local market’s trajectory as we approach 2024.
This decline marks the lowest point recorded in pending sales since my tracking began in April, signifying a significant decrease from the peak of 108 pending sales at the start of April. However, the minimal change from November to December suggests a more nuanced interpretation, potentially indicating a seasonal decline in demand that could swiftly reverse in the new year.
To gain a comprehensive understanding of the market’s overall condition, it is crucial to consider the available listings. In April 2023, with 84 active listings, there were 108 pending sales, reflecting a scenario where buyer demand outpaced supply. However, from July to December, active listings stabilized between 121-138. During this period, pending sales ranged from 83-88, but in the past two months, they have slowed to 68 and now 65.
This suggests that the slowdown in pending inventory may be attributed to the holiday season, a customary period of reduced activity in the real estate market. As we transition into 2024, monitoring the pending sales dynamics will be crucial to discern whether this trend is a temporary seasonal phenomenon or indicative of broader shifts in market conditions.
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
