Dayton Area Home Sales for July 2006
Single-family sales activity reported to the Board’s MLS in July continued to taper off compared to a year earlier. For the second consecutive month, the year-over-year total was down slightly, as the 1,340 transactions represented a 2.7% decline over the 1,377 sales reported during July last year. July sales were also lower than June of this year by 136 units or 9.2%.
Sales activity nationally also continued at a slower pace. According to the National Association of Realtors, existing homes sold at an annual pace of 6.33 million in July, down from 6.6 million in June, the slowest pace since January of 2004.
Despite the recent modest decline in local sales, year-to-date activity still shows a very healthy market in the Dayton-area. Sales of single-family homes through July have reached a total of 8,591, 4% higher than the 8,257 reported during the same period in 2005.
Sales volume for the month of July topped $194.5 million and generated an average sale price of $145,180, an appreciation of 3.27% over July 2005’s average of $140,587
Although, according to NAR, home values in recent months have been declining nationally, in the Dayton-area, a year-to-date average sale price of $136,895 represents a 0.75% appreciation over last year’s average of $135,872 at the same time. This is after a first-quarter when values actually depreciated, and is significant because a large inventory of available homes does not seem to be putting much downward pressure on local home prices.
The number of single-family listings being submitted to the Dayton MLS continues at a record pace. July’s total of 2,818 listings topped last July’s figure of 2,580 by 9.22%, and a year-to-date listing total of 19,191 is a 15.17% increase over the 16,663 listings added to the inventory through July of 2005.
The overall active MLS inventory at month’s end stood at 10,110 available properties or a 7.54-month supply based on July’s sales pace. This compares to an inventory of only 7,791 and a 5.6-month supply at the same time last year.
Nationally, the current supply at the end of July stood at 3.86 million homes for sale, or a 7.3-month supply. NAR states that this is the “largest supply of homes for sale by that measure since April 1993.”
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