Dayton Area Home Sales for 2006
Nationally, the year 2006 saw declines in both the price of homes and the number of single-family homes sold. The Dayton area market, though not left untouched by the downturn in the market, remained remarkably healthy and stable compared to many markets in other parts of the country.
Sales figures reported to the MLS show a total of 14,478 single-family sales in 2006, only 0.9% below last year’s record figure of 14,618. This makes 2006 the second-best year ever for single-family sales.
The year-end sales volume landed at $1.97 billion, down 1.27% from 2005’s volume of $1.99 billion. The average sale price for a home in 2006 fell to $136,008, representing a slight 0.31% depreciation compared to last year’s average of $136,433. Percentage Sale/List Price was also down a slight 0.5% after three straight years of increases.
The total number of single-family listings submitted to the MLS in 2006 reached 30,550. This number is a sizeable 10.6% increase over the 2005 figure of 27,621. This marked the most listings ever added to the MLS system in one year.
The overall single-family inventory at any given point during 2006 was also larger than at any previous year. The year began with a supply of 7,408 listings and climbed to a high of 10,186 in August before tailing off at year’s end to 8,727 available listings.
“While our 2006 numbers were down slightly from last year, the members of the Dayton Area Board of Realtors worked hard to retain consumer confidence in our real estate market,” says Georgiana Nye. “That push really paid off. While other cities around the country suffered significant drops, we had our second-best year ever. And now that the interest rates have leveled off, I already see a marked increase in activity. 2007 should be a very good year.”
The supply ratio based on December’s resale rate represented 9.75 months of available homes for sale at year’s end. This compares to a supply of only 7.74 months at the same time in 2005, when the inventory was considerably smaller and sales activity was up compared to this December.
The Dayton Area Board of REALTORS® is the local chapter of the National Association of REALTORS® and represents over 3,000 members and affiliates in the Dayton area.
Statistics compiled by John Junker, MLS Data Specialist