Dayton Area Home Sales for May 2007
Sales of single-family homes reported to the Board's Multiple Listing Service in May totaled 1,342. This was about a 2% decline compared to last May's 1,369 reported transactions. Sales thru May for 2007 now total 5,430, compared to 5,700 in 2006, a 4.7% decline.
A sales volume for May of $188.2 million was a 1.5% drop from the $191.1 million generated for the month of May a year earlier. Year-to date single-family sales volume has now topped the $717 million mark compared to just over $749 million thru May in 2006, a 4.3% decline.
Despite these modest declines, Dayton area sales have continued at an impressive rate this year, with numbers topped only by last year's record-breaking pace. Despite reports of a major downturn in the national housing sector, home values in the Miami Valley have remained very steady while other areas around the nation have experienced significant decline.
The average sale price, which typically rises during the spring and summer months, did just that in May, jumping to $140,257, a 6.85% increase compared to April's average of $131,255. May's average was virtually unchanged, however, when compared to last May's average of $139,592.
The average sale price year-to-date stands at $132,058, compared to $131,451 in 2006, indicating again that our Miami Valley home values are holding very steady. The median sales price (the figure which represents the point at which exactly as many homes sold for more as sold for less) through May was $113,900, compared to $114,000 last year.
Single-family listings added in May totaled 2,885, a decline of 4.1% from May of 2006 when 3,008 listings were submitted. Year-to-date, a listing total of 13,042 represents a decline of about 2.2% from last year when a total of 13,332 listings had been added to the inventory.
Statistics compiled by John Junker, MLS Data Specialist