Dayton Area Home Sales for January 2007
A continuation of low interest rates combined with mild weather in January contributed to a very good month for single–family sales activity in the Dayton-area. The 764 units reported sold to the Board’s MLS was only 18 units or 2.3% less than last January’s record 782 sales.
A sales volume of $90.7 million was a 9.9% decline compared to last January’s $100.7 million. The average sale price per unit for the month tumbled to $118,755, a drop of 7.82% from last January’s $128,827.
This is the lowest monthly average sale price since January of 2004, and continues a trend of downward pressure on home prices caused in part by a large inventory of homes on the market. Lower prices, a wide range of homes to choose from, and low mortgage rates have all made the present a great time to buy a home.
Single-family listings added to the inventory in January totaled 2,460, 4.24% more than last January’s 2,360. The overall MLS inventory at month’s end showed 8,919 available single-family properties, up 192 units from December’s 8,727.
The supply of single-family homes at month’s end based on January’s resale rate was 11.6 months. This compares to a 9.9-month supply at the end of January 2006 when the inventory stood at 7,800 and the resale rate was slightly higher.
Statistics compiled by John Junker, MLS Data Specialist