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To start February 2024 off, our Dalton/Whitfield County residential real estate market experienced a slight decline in active inventory supply. Here’s what you should know:
The market is picking right back up with many indicators from January and the start of February showing positive signs of a demand resurgence. The active inventory is just one data point that can be used to demonstrate this as we see a -4.2% decline in supply M/M from January. When looking back to the start of 2023, we see a similar shift take place after the holiday season of 2022. February 2023 saw a -11% M/M decline from January and continued to decline gradually through May 2023.
What is our market’s competitive state at compared to this time last year? Our active inventory supply is up 29.5% Y/Y, but with our increase of inventory our sales have declined Y/Y. This causes our months supply to be up from 2.5 in February 2023 to 3.6 in February 2024, showing an overall weaker demand currently compared to the start of 2023. However, these numbers are not weak and indicate plenty of movement in the 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
