Dayton Area Home Sales for May 2005
After a one-month interruption in April of a long string of new monthly sales records, May’s total of 1,365 single-family transactions reestablished the trend, besting last May’s previous record of 1,238 sales by 10.2%. Year-to-date, new monthly records have now been set in four out of five months, generating a total of 5,341 sales, an 8% increase over activity at the same time in 2004 when 4,944 sales transactions had taken place.
Sales volume for May reached $187,764,287, which translates into an average sale price of $137,556 per single-family unit, or a 1.77% increase over the $135,165 figure for May a year earlier. The average sale price has steadily increased through the first five months of this year and now stands at $132,508 year-to-date, compared to an average of $126,791 at the end of May in 2004. This 4.51% increase is only .5% below 2004’s year-end mark of $133,180, which is likely to be eclipsed by the end of next month, establishing the first real appreciation of home values for 2005.
New single-family listings submitted to the MLS in May were also up compared to last May, as a total of 2,731 listings added to the inventory was a 291 unit or almost 12% jump over last May’s 2,440. The single-family listing total year-to-date has reached 11,345, which is an almost 7% increase over the same time period last year. The overall active single-family inventory at month’s end stood at 7,405 or 5.42 month's supply based on May’s resale rate. This compares to a very similar 5.26-month’s supply last May and a 6.1-month’s supply at the end of April this year.
The Dayton Area Board of REALTORS® is the local chapter of the National Association of REALTORS® and represents over 2,900 members and affiliates in the Dayton area.
Statistics compiled by John Junker, MLS Data Specialist