Dayton Area Home Sales for February 2004
Single-family residential sales activity reported to the Board's Multiple Listing Service continued to produce record totals in February, as yet another monthly record was established, eclipsing that of February two years ago. The 756 properties which changed hands in February was 37 units more than the previous record 719 reported in 2002, and was an impressive 110 unit or 17% jump over last February's total. A cumulative dollar volume of $93,579,448 was 17.2% better than a year earlier, and produced an average sale price of $123,782, a decline of 2.36% compared to February 2003, as the six-month trend toward lower average sale prices continued.
New single-family residential listing activity in February was also at a very high level, as the 1,724 properties added to the inventory was 350 units or 25.4% more than a year earlier when unusually inclement weather kept activity down. This winter's less severe conditions and continued low mortgage rates have produced much-improved listing and sales figures.
Overall single-family inventory at month's end showed 5,550 available properties, or a 7.34 month's supply of listings. Last year's inventory at the same time was significantly lower at 5,115 properties and showed a 7.91 month's supply, with sales activity running at a much slower clip.
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