Dayton Area Home Sales for March 2005
Single-family sales activity in March, as reported to the Board’s Multiple Listing Service, continued at a torrid pace, completing a very impressive, record–breaking first quarter for 2005. The 1,172 March sales transactions broke the March record for the second straight year and brought the monthly records count to 22 out of the last 23 months. This March’s total bested last year’s by 84 units or 7.72%. First quarter sales activity produced a second consecutive record winter quarter total of 2,766, topping last year’s 2,490 sales by 276 units or 11.08%.
A March sales volume of $153,524,621 (+17.7%) generated an average sale price of $ 130,994, which was a 9.95% jump over last March, when the average came in unusually low at $119,902. A three-month sales volume of over $3.6 million was a whopping 19.5% increase over the same period a year earlier. The quarterly average sale price of $130,243 was a 7.6% jump from last year’s $121,042 first quarter average, which came at the end of an eight-month period during which the average sale price was running lower than the yearly average.
Total single-family listings submitted in March totaled 2,390, a narrow increase of just 21 units compared to last March. A total of 6,065 properties added to the inventory during the first quarter was just 244 units or 4.2% more than a year earlier. However, as brisk as sales activity has been, listing activity outpaced even sales during the second half of 2004, inflating the overall single-family inventory. By the end of March, the inventory showed 6,625 single-family homes available for sale, or a 5.65-month's supply based on March’s resale rate. This compares to 5,957 listings and a supply of 5.47-months at the end of March last year.
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