Facebook
X
Pinterest
Copy Link
After experiencing a low volume of sales in December 2023, the Dalton/Whitfield County residential market witnessed an increase in both the median Days on Market (DOM) for closed sales and active inventory at the beginning of 2024. Comparing these figures with the same period last year reveals key insights.
As of January 2024, the active inventory’s median DOM is 67 days, representing a 9-day decrease from January 2023 when the median DOM was 76 days. This 11.8% decline in DOM suggests a promising level of demand in the market. However, when considering the context of higher active inventory and a lower volume of closed sales, the overall narrative becomes more nuanced. To match the demand levels of early 2023, more buyers need to enter the market in January.
Closing 2023 with 28 closed sales, the market exhibited a median DOM of 34 days for December sales. Although this indicates a faster pace compared to December 2022, which had a median DOM of 43 days, it raises questions about the market’s current dynamics. In January 2023, there was a -18.6% decline M/M in the median DOM for closed sales due to increased buyer activity and a large reduction in active inventory, a pattern not observed in January 2024. The absence of a similar decline in active inventory this year prompts closer scrutiny to determine whether this is a delayed response or a shift in buyer demand. Monitoring these factors will be crucial to understanding the trajectory of the local 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
