Dayton Area Home Sales for November 2007
Single-family real estate transactions reported to the Dayton Area Board of REALTORS® Multiple Listing Service in November produced over $112 million in sales volume and an average price of $126,788, which bested October's average of $126,640. This compares to a volume of $134.8 million and an average sale price of $129,322 in November of 2006, a slight 2% decline.
Sales of single-family units reached a total of 884. This is 159 fewer sales compared to the same period last year.
Year-to date through November, a total of 12,274 single-family transactions have been completed through the Dayton MLS. This compares to 13,475 sales through 11 months last year, only an 8.9% decline.
This year's activity to date has generated over $1.66 billion in sales activity. This translates to an average sale price of $135,729 and a median of $117,500, compared to $136,750 and $119,000, respectively, in 2006, both declines of less than 1%, as market values remain remarkably stable in the greater Dayton area.
"As I've said in the past, all real estate is local, and the statistics bear this out," said Georgiana Nye, 2007 President of the Dayton Area Board of REALTORS®. "Our year-to-date numbers are much better than the national average."
Single-family listings submitted in November totaled 1,932, about 4% less than November 2006 when 2,012 listings were added. There have been 27,747 listings entered through November, 4.5% fewer than last year's 29,055 at the same time.
"While the number of transactions and listings may rise and fall, these numbers aren't nearly as important as the value of homes," Nye stated. "To date, the area's average sale price has remained fairly consistent, with barely perceptible changes from month to month. As long as this trend continues, homeowners can be pleased with the home equity they've established."
The overall MLS inventory at month's end had dropped below 10,000 for the first time since March, as 9,929 single-family listings were available for sale. This represents a supply of 11.2 months based on November's resale rate. The supply ratio has now remained at just over 11-months for three consecutive months.
Last year at the same time the inventory of single-family homes showed 9,656 homes available, only about 300 units less than this year's inventory. This represented a supply of 9.25 months.
Statistics compiled by John Junker, MLS Data Specialist