Dayton Area Home Sales for October 2004
After 11 consecutive months and 17 out of 18 months of new sales records (interrupted only by October of last year), 2004 did not produce an October record. However, October’s activity did produce an impressive 1,047 single-family transactions, an increase of 4.6% compared to October 2003 and was the second highest October total ever, topped only by October 2002’s 1,122 sales. Total sales volume for October reached $142,638,677, an almost 12% jump compared to last October, and generated an average sale price for the month of $136,236 an almost 7% increase over October 2003.
Ten-month sales totals have now reached a record 11,427, a 1,287 unit or 12.7% improvement over the same time period last year. Sales volume compared to last year has jumped by almost 14%. The year-to-date average sale price for a single-family unit is now $133,343, a 1.05% appreciation in year-to-year comparison.
October's 2,009 new single-family listings submitted to the MLS was 202 units or 11% more than last year, and listings year-to-date now total 21,453 an almost 16% improvement in activity over 2003’s totals. Overall single-family inventory showed 6,739 properties available for sale at the end of October. Inventory at month's end was 20 units more than at the end of September, an unusual increase for this time of year, and a 6.4 month's supply based on October’s resale rate. Last year’s inventory at the same time was much lower at 5,697, and the supply ratio stood at 5.69 months.
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