Dayton Area Home Sales for August 2004
Single-family sales reported to the Board’s MLS in August broke last year’s August record by 106 units or 8.88%, as exactly 1,300 transactions kept alive a string of new records, which have become the rule instead of the exception. Activity in the local housing market continued at a sizzling pace with August activity resulting in $178,346,848 of sales volume and an average per-unit sale price of $137,190, almost identical to August 2003’s average of $137,300.
The gap in year-to-date sales compared to a year earlier now stands at 14.32%, as a cumulative sales total of 9,079 for 2004 is 1,137 units better than 2003’s comparable figure. Throughout 2004, monthly average sale price has remained consistently level in terms of comparisons to a year earlier, which is reflected in the Year-To-Date average sale price of $132,750, a minimal 0.2% decline from 2003’s figure of $133,072 at the same time. However, this year’s current average is now a 1.6% appreciation over year-end 2003, when the average stood at $130,647.
New residential listings added to the MLS in August totaled 2,275, a 23.44% increase over the 1,843 submitted during the same period last year. Listing totals for all of 2004, of course, also reflect the brisk pace of the market, as a total of 17,432 listings Year-To-Date is a 16.46% jump over 2003. Overall inventory at the end of August showed 6,808 single-family homes available for sale, or a 5.2 month's supply based on August’s resale rate. This compares to only a 4.8 month's supply last year at the same time, when the inventory showed 5,775 available properties.
The Dayton Area Board of REALTORS® is the local chapter of the National Association of REALTORS® and represents over 2,800 members and affiliates in the Dayton area.
Statistics compiled by John Junker, MLS Data Specialist