Dayton Area Home Sales for January 2004
The year 2004 opened with a continuation of the strong sales activity which produced record-breaking years in 2002 and 2003. The 608 residential single-family home sales reported to the Board's Multiple Listing Service set a new January record, surpassing the old record of 582 established just 2 years ago. This was a 5.74% increase over last year's total and produced a cumulative dollar volume of $72,247,518.
With many buyers taking advantage of low interest rates and sellers competing for their business, average sale price has shown a modest decline in recent months, slipping about 2.0% since August compared to the same period a year earlier. January's average per unit was $118,828, a decline of 3.97% compared to last January's average of $123,742. However, an average of $130,376 over the past 12 months, which is up 2% compared to a year earlier, is indicative of the continued strength of home values in the Dayton area.
Single-family listings added to the MLS inventory in January totaled 1,729, which was a very healthy 8.47% increase compared to the same period a year earlier. The overall number of single-family residential listings available for sale at the end of January was 5,354 or an 8.8-month's supply based on January's resale rate, which, although brisk enough to establish a new high for the month, represented a slower pace of activity typical of winter months. Last year at the end of January, there were only 5,025 homes available, which represented an 8.7-months supply of listings.
The Dayton Area Board of REALTORS® is the local chapter of the National Association of REALTORS® and represents over 2,600 members and affiliates in the Dayton area.
Statistics compiled by John Junker, MLS Data Specialist