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In the Dalton/Whitfield County real estate market, we’re witnessing notable shifts in average and median sales prices, heading in opposite directions on both a month-over-month and year-over-year basis. The encouraging aspect is the positive year-over-year trend, indicative of a strong market. However, the month-over-month trends, while indicative of the market’s trajectory, can exhibit frequent and dramatic fluctuations.
Analyzing the previous month’s data on median sales prices, a promising trend emerges—there hasn’t been a year-over-year decrease in median sales price since April. Over this period, we’ve observed a range of year-over-year increases spanning from 7.4% to 23.2%. This variability suggests varying performances in the higher-priced home market in different months, making a downward shift in the month-over-month data understandable.
Shifting focus to the Average Sales Price data over the past few months, a similar positive trend is evident. Since March, there hasn’t been a year-over-year decrease in value, showcasing an array of increases ranging from 1.7% to an impressive 34%. This diverse range justifies the month-over-month downward shift from last month’s 2023 peak Average Sales Price of $349,119.
Considering the overall picture, the consistently positive year-over-year trends and the low months supply of inventory indicate that drastic changes in sales prices are not anticipated at the moment. Ongoing monitoring of trends, especially concerning inventory levels, buyer demand, and interest rates, will remain essential to adapt to any potential shifts in 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
