Dayton Area Home Sales for February 2006
Sales activity continued at a very brisk pace throughout February in the Dayton area, resulting in over a thousand single-family sales for the first time ever for the month of February. The 1,003 transactions reported to the Board’s Multiple Listing Service for the month was a 16.5% increase over last February’s record total of 861 properties sold. It was also 221 units or 28% more than last month’s figure. The National Association of REALTORS® also reported a healthy increase of 5.2% over January, despite forecasts of a decline.
Despite record sales activity locally, the inventory of single-family homes for sale also remains at record highs, and continues to force prices downward. A sales volume in February of over $125.5 million produced an average sale price of $125,310 per unit which was an almost 3% decline compared to last February’s average of $129,152. An average sale price of $126,932 year-to-date is a 2.21% depreciation compared to $129,807 over the first two months of the year in 2005.
New single-family listings added to the inventory in February totaled 2,293 compared to 1,928 last February, an increase of nearly 19%. The new listing total for the year so far stands at 4,655 compared to 3,677 a year earlier, a 26.6% jump. The overall MLS single-family inventory at month’s end stood at exactly 8,100, or a little over an 8-month supply based on February’s strong resale rate. Last year at the same time the supply stood at only 6,311 listings and the supply ratio was 7.32- months.
Statistics compiled by John Junker, MLS Data Specialist