Dayton Area Home Sales for April 2008
Sales of single-family homes in April, as reported to the Dayton Area Board of Realtors’ Multiple Listing Service totaled 959. This was an increase of 90 units from March’s figure, but, as has been the pattern this year, April’s activity was down in year-over-year comparisons. In April 2007, a total of 1,222 sales were reported, about 21% higher than this April’s total.
A total sales volume in April of just over $119.6 million generated an average sale price per single-family unit of $124,720. This compares to $131,255 in April 2007, a decline of about 5%. The median price was $109,363, a decline of only 2% compared to last year’s figure of $111,700.
The overall MLS single-family inventory at the end of April showed 9,695 homes available for sale, up from 9,336 at the end of March. This is not an unusual increase as the peak summer months near.
The increase in sales activity during April more than offset the increase in inventory, resulting in a decrease in the supply of homes. A 10.7-month supply was reported at the end of March, but that number dropped to a 10.1-month supply at the end of April, based on the current pace of sales.
Year-to-Date
The year-to-date sales figures show that a total of 3,366 single-family homes have been sold. This is a decline of 16.9% compared to the 4,050 units reported sold during the same period in 2007.
The average sale price for the first four months of the year stands at $121,440, and the median at $103,500, declines of 5.9% and 7.4%, respectively, in year-over-year comparison to 2007.
Statistics compiled by John Junker, MLS Data Specialist