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The Dalton/Whitfield County residential real estate market embarked on 2024 with remarkable year-over-year (Y/Y) sales price growth, although both median and average sales prices experienced a decline month over month (M/M), prompting considerations about the market’s trajectory.
Beginning with the median sales price, a substantial 18% Y/Y surge was observed, reaching $260,000. However, a M/M decline was noted. Nevertheless, M/M fluctuations are common in median sales price data, whereas the Y/Y trend has remained consistently positive since April 2023.
Turning to the average sales price, an even more significant Y/Y increase of 32.4% was recorded. Similar to the median sales price, the average sales price also witnessed a M/M decrease, albeit marginal at less than -1%. Unlike the median sales price, the average sales price has shown greater variability both M/M and Y/Y, with the last Y/Y decline observed in November 2023.
Despite the M/M declines in January’s sales prices, the overall outlook for 2024 appears promising. However, vigilance is warranted to monitor the direction of this data, particularly if homes continue to linger on the market for extended periods and if active inventory outpaces buyer demand. Such developments could influence the market dynamics moving forward.
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
