Dayton Area Home Sales for February 2007
Despite very harsh weather conditions, sales figures reported to The Board’s Multiple Listing Service remained impressive in February. A total of 920 single-family residential transactions took place during the month. Although a decline of 8.3% compared to last February’s record 1,003 sales, this total represents the second-highest February total ever for MLS sales.
Although sales activity nationwide has seen a downturn over the last year, our local Realtors can boast of sales totals over that period bested only by the record setting-pace of the previous year. February’s activity generated a cumulative sales volume of $114.8 million. The average sale price for the month was $124,869, a slight 0.3% below last February’s $125,310, but a nice rebound from this January’s average of $118,755.
Single-family listings submitted in February declined significantly compared to February 2006. The 1,907 single-family submissions represented a 16.8% decline compared to the 2,293 added last February. This is the second time in the last three months that listings have been down in year-over-year comparison. Previous to this past December’s drop, every month going all the way back to the fall of 2003 had seen an increase in listing totals.
Overall MLS single-family inventory at the end of February showed 8,925 properties available for sale, a figure virtually unchanged from at the end of January, possibly indicative of a leveling-off of what has been a steady increase in the level of single-family inventory. The supply of available homes at month’s end based on February’s resale rate was 9.7 months. This compares to 8,100 listings and a supply of slightly over 8 months a year earlier.
Statistics compiled by John Junker, MLS Data Specialist