Dayton Area Home Sales for April 2005
Sales of single-family homes through the Board’s Multiple Listing Service (MLS) in April remained very strong, reflecting the nationwide boom in housing activity. Stimulated by continued low mortgage rates, this sector of the economy has been growing at a healthy pace now for over two years. The 1,152 sales reported to the MLS was a small 19-unit or 1.62% decline from last year’s record total. This is only the second time during the last 24 months that a new record sales total for the month at hand was not set, but the 4-month listing total of 3,923 sales for 2005 has easily outpaced last year’s previous Year-To-Date record of 3,688 sales by 6.37%.
Sales volume in April reached $152,560,230, generating an average sale price of $132,431 per unit. This represents the highest monthly average so far this year, and is a 2.36% increase in year-to-year comparison to last April’s $129,380 average. The YTD sales volume has surpassed the ½ billion mark already at $513,593,475, and the average sale price has reached $130,919 which is a substantial 5.56% appreciation compared to the $124,021 mark at the same time last year. In recent years, the average sale price during the winter months has been considerably lower than the year-end figure for the previous year and then steadily increases through the spring and summer months. This year’s average has also started lower but increased more quickly, and is now nearing the 2004 year-end average of $133,180.
Listing totals are also proportionately on the increase, as the 2,549 single-family entries in April bested last April’s 2,351 by 198 units or 8.42%. YTD listings added to the inventory now total 8,617, 446 or 5.46% more than during the same period a year earlier. The overall MLS single-family inventory at month’s end stood at 7,022 or a 6.1-month’s supply based on April’s resale rate. This is up from 6,625 listings and a 5.65 supply ratio at the end of March this year, and 6,220 listings and only a 5.31-month’s supply at the same time a year earlier, when sales activity was cruising along at a record clip.
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