As the countdown continues till the deadline for the $8000 tax credit, it is apparent that this offer has helped to stimulate homes sales in the area. As just released form the Dayton Area Board of Realtors, you will see how the statistics are stacking up from the month of August. Will this continue?
Dayton Area Home Sales for August 2009
Single-family sales reported to the Board's MLS for August once again showed figures in positive territory, sparking hope that a turnaround in our local market could be in progress. A total of 1,011 sales were completed for the month, which, although down a slight 37 sales from July, topped last August's figure by a modest but significant 4 units or 0.40%. This marks only the second year-over-year increase in over two years, and those two instances have come in the last two months.
August's activity generated $130.6 million in cumulative sales volume, an increase of 2.46% over the same month a year earlier, which translates into an average sale price for the month of $129,214. This is a decline over July's average of $139,786, which is typical of most years when the average price of homes begins to slide after mid-summer. However, it represents an increase of 2.06% compared to last August's average of $126,608. The median sale price for the month was $115,000 per unit, a 3.6% jump over August 2008.
Not surprisingly, sales for 2008 year-to-date numbers still show declines, but the previous two months have helped to improve those figures. Total single-family sales for the January-August period have now reached 6,920, compared to 7,704 last year, a drop-off of just over 10%. Sales volume is down 15.5%, and the average sale price which now stands at $122,118 is down 6%, much less than in many other areas of the country. The year-to-date median sales price stands at $103,000, down 8.7% compared to 112,900 during the same period in 2008.
Single-family listings submitted during August totaled 1,944, down from last year's 2,407 (down 19.2%). This brings the year's total to 15,719 total listings, a 21.4% decline. The overall MLS single-family inventory, which has remained very steady all year, stands at 8,744 available properties for sale, representing an 8.6-month's supply of listings, almost identical to the last month's 8.4-month supply. The comparable supply in 2008 was much higher, when the inventory stood at 10,497 listings, with a supply of 10.4 months.
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AUGUST 2009 - MLS SINGLE-FAMILY SALES SUMMARY
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2009
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2008
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% Change
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Single-Family Listings
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1944
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2407
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-19.24%
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Solds
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1011
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1007
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0.40%
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Total List Price
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$137,093,285
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$133,050,727
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3.04%
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Total Sale Price
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$130,635,776
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$127,494,754
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2.46%
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% Sale/List Price
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95.29
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95.82
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-0.55%
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Median Sales Price
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$115,000
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$111,000
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3.60%
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Average Sales Price
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$129,214
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$126,608
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2.06%
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Statistics compiled by John Junker, MLS Data Specialist
