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In December 2023, the Dalton/Whitfield County residential real estate market exhibited a unique trend with a 2% increase in the average sold price to list price ratio. Despite a consistent rise in active inventory over the past four months, typically associated with an equilibrium moving in favor of the buyers, the market saw a contrary movement.
December recorded the lowest number of closed sales for 2023, with only 28 transactions. Despite a softer overall market during the holiday season, homes that did sell attracted motivated buyers, allowing sellers to achieve sales prices closer to their listing figures. This suggests that even in slow periods in the market, there are buyers motivated to make purchases, particularly for properties with higher desirability.
When looking back to February 2023, a month with the highest number of closed transactions but the lowest sold to list price ratio, we should keep an eye to see if this repeats as the market transitions into 2024 with an increased supply of active listings, and buyers in the wings nearing the time for ramped up demand.
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
