Dayton Area Home Sales for 2005
Despite a slow climb, mortgage interest rates remained at very affordable levels in 2005 for most buyers, stimulating continuing investment in residential real estate nation-wide. For the fourth consecutive year, single-family home sales set a new record in the Dayton area. The 14,618 sales transactions reported to the Board’s Multiple Listing Service was a 9.7% increase compared to last year’s previous record total of 13,325.
Strong sales activity throughout the year produced a total sales volume locally just shy of $2 billion. This compares to last year’s total of about $1.77 billion, a 12.38% increase. The average sale price per single-family unit for the 12-month period was $136,433 representing an appreciation rate of 2.44% for the year. This was up from 2004 when an average of $133,180 was a 1.94% appreciation compared to 2003. Percentage Sale/List was also up for the third straight year. 2005’s figure was 97.36%, compared to 97.19% in 2004.
Single-family listings submitted in all of 2005 also easily topped last year’s record, as a total of 27,621 was 12.8% more than 2004’s total of 24,474. Throughout the year, the number of homes available for sale at any given time was greater than at any time in the history of the MLS. The year began with an inventory of 6,117 and peaked at 8,060 in September before tapering off to 7,408 at year’s end. The year-end figure represented a 7.74-month’s supply based on December’s slower resale rate. This compares to an inventory of 6,117, a 7.03-month’s supply at the end of 2004.
Statistics compiled by John Junker, MLS Data Specialist