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The Dalton/Whitfield County residential real estate market experienced its lowest sales volume of the year in November, recording only 29 closed transactions. This marks a substantial -38.3% decline in sales month-over-month and a -21.7% decline year-over-year. To contextualize this decline, comparing it to the same period in the previous year is crucial.
In November 2022, the market saw 37 closed transactions, highlighting the significance of the decline. Moreover, the month-over-month change from October 2022 to November 2022 was a -17.8% decline. The current -38.3% decline in 2023 over the same period suggests a more pronounced shift, more than double the decline observed in the previous year.
To offer a more balanced perspective, it’s essential to consider the months supply for December in both years. In December 2022, a 4.35 months supply of inventory was observed due to the decline in closed sales coupled with a higher active supply of inventory. In contrast, December 2023, with 29 closed transactions and a starting inventory of 138 active listings, brings the months supply to 4.75. This ratio of closed sales to active supply positions the market at nearly the same level as last year.
While the decline in closed transactions is notable, the similarity in months supply indicates that, despite the dip in sales, the market is navigating comparable territory to the previous year as it transitions into December.
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
