Dayton Area Home Sales for November 2005
The recent slide in single-family sales activity for 2006 compared to the previous year continued in November, but the decline was only 48 units or 4.4% compared to last year’s record-breaking November, and the 1,043 sales reported this November is still the second highest total ever for the month.
Sales totals year-to-date also are just slightly below the record-breaking level of activity in 2005. A total of 13,548 transactions reported to the Board’s Multiple Listing Service through November is only 58 units, or a miniscule 0.4%, fewer than the 13,606 sales reported during the same period last year.
A large inventory of single-family homes on the market has created a clear-cut buyer’s market, which has put some downward pressure on home values in recent months. Sales volume in November reached $134.8 million, and produced an average sale price of $129,322; down 2.3% from an average of $132,363 last November. This is the fourth consecutive month of average sale price declines in year-over-year comparison
Year-to-date figures, however, again paint a much more positive picture of market values based on the more extended period of market activity. A sales volume through November of over $1.8 billion has generated a healthy average sale price of $136,357, compared to an almost identical $136,924 last year, a decline of only 0.4%.
Single-family residential listings submitted in the month of November totaled 2,012 compared to 1,903 last November, a 5.7% increase. This activity brings the year’s total of listings added to the inventory to 29,076, 11.7% more than the 26,024 added in 2005 through November.
Overall MLS single-family inventory at month’s end had dropped to 9,656, down from 10,003 at the end of October, and represented a 9.25-month supply based on November’s sales pace. In 2005 at the same time the inventory stood at only 7,810 available listings and represented only a 7.15-month supply, indicative of last year’s much lower inventory levels.
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