Dayton Area Home Sales for May 2004
Sales of residential single-family homes in the Greater Dayton Area continued at a torrid pace in May, as the 1,238 transactions reported represented a record for the month, and was a 13.58% increase compared to last May's 1,090 sales. Each month has produced a new record so far in 2004, as a year-to-date total through May of 4,969 is an 838 unit or 20% jump over 2003's total at the same point in time!
A cumulative sales volume for May of $167,334,810 generated an average sale price for the month of $135,165, a 2.83% increase over the $131,440 average reported a year ago in May. This is the highest monthly average so far this year and the highest since August of last year. The year-to-date average per single-family unit is now, for the first time this year, higher than the comparable figure from last year at $126,866, compared to a January-May figure in 2003 of $126,466.
New single-family listings added to the inventory in May totaled 2,440, compared to last May's 2,091, a 16.6% increase. Year-to-date new listing activity, like sales, reflects the great pace of the market as a total of 10,611 is a significant 1,603 or 17.8% increase over the same period a year earlier.
With listing activity continuing at such a vigorous pace, the overall inventory had ballooned to 6,511 available single-family properties for sale at month's end. This translates, however, into only a 5.26-month's supply due to the equally strong sales pace. This compares to 5,696 listings and a nearly identical 5.22 month's supply last year.
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