Dayton Area Home Sales for September 2004
Single-family sales transactions reported to the Board’s MLS in September totaled 1,154, establishing a new all-time September record, and adding to the year’s record-setting pace of sales activity. September’s sales bested last year’s record total of 1,056 for the same month by 9.3%. Total sales volume for September reached $156,102,463, a 14.7% jump from September 2003. An average sale price of $135,271 is almost 5% higher than last September’s $128,877.
Sales totals year-to-date after nine months show 10,312 transactions compared to 9,109 in 2003 during the same reporting period, a strong 13.2% increase. A nine-month sales volume now totaling nearly $1.5 billion in single–family sales transactions ($1,371,414,577) has produced a per-unit average sale price of $132,992, a figure nearly parallel (+0.36%) to last year’s figure of $132,512. This year’s figure is, however, now a 1.8% appreciation compared to 2003’s year-end figure of $130,647.
With interest rates remaining at record lows, opportunities for home ownership have opened up to more and more potential buyers, and sellers have more than kept up with the market’s demand for available properties. New listings added to the MLS inventory in September totaled 2,015, a significant 14.88% increase compared to the same month a year earlier, when 1,754 listings were submitted to the MLS. A January-September listing total of 19,445 for 2004 is a significant 16.3 % increase over 2003’s 16,720.
Overall single-family inventory at month’s end began a normal seasonal decline to 6,719 available properties for sale, down just slightly from last month’s figure of 6,808, and represented a 5.82 month's supply based on September’s resale rate. This year’s supply, however, is considerably higher than at the same time in 2003, when there were 5,753 single-family homes available and a supply ratio of 5.44 months when listing and sales totals were lower.
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