Dayton Area Home Sales for July 2004
Single-family sales totals reported in July to the Board's MLS just edged out last July's total by 27 units, keeping alive a streak of monthly records, which has now reached nine consecutive months and 15 out of the last 16 months. The 1,297 transactions in July generated a sales volume of $178,908,744 and an average sale price of $137,940. This compares to an average last July of $139,162, a slight 0.8% slide, and represents a leveling-off of this figure after an all-time monthly high mark of $145,373 in June.
Sales activity continues to be motivated by low mortgage rates which have made home purchasing very affordable. Activity in the Greater Dayton area has produced a total of 7,741 single-family residential home sales year-to-date. This is an impressive 14.3% increase over 2003's figure at the same time.
Year-to- date sales volume has already surpassed the billion-dollar level at
$1,021,921,725. Home values, after depreciating earlier in the year compared to year-end 2003, have appreciated for the last three months, and appear to be moving upward again. The average per residential unit year-to-date is now at $132,014, which is now a 1% appreciation over the end of 2003.
Total single-family listings submitted in July totaled 2,231, an 8.5% increase over last July. A total of 15,159 listings year-to-date represents a 15.4% increase in activity compared to last year's 13,128 over the same period of time. There were 6,719 single-family properties available for sale in the MLS inventory at month's end, which represented a 5.18 month's supply based on the current resale rate. Last year at the same time, the inventory contained only 5,794 listings and with a resale rate nearly identical to this year's, the supply was considerably less at 4.56 months.
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