Dayton Area Home Sales for July 2008
Sales of single-family homes for July remained at nearly the same level as they did in May and June, with 1,017 sales being reported to the Board’s Multiple Listing Service. This was a mere 64 units less than June’s total, although it does represent a 16.5% decline compared to July 2007.
A total sales volume for the month of $139.4 million generated an average sale price of $139,126, a decline of 3.72% compared to July of last year. The median sales price for the month was $122,500, off 3.46% from last year.
Year-to-date 6,694 single-family transactions have been reported. This is a decline of 18% over last year, when there were 8,162 transactions through July.
Total sales volume this year-to-date has reached $870.8 million, translating into an average sale price of $130,091 per single-family unit (down 4.32%) and a median price of $112,900 (down 4.68%).
There were 2,566 single-family listings submitted during the month of July, 9.55% fewer than last year during the same period. Listing totals have declined in year-over-year comparisons now for five consecutive months.
Year-to-date, 17,609 listings have been submitted to the MLS, compared to 18,813 through July 2007, a difference of 6.39%.
The overall MLS inventory at the end of July stood at 10,572 listings, or a 10.3-month supply of available single-family listings based on the current pace of sales. At this point last year, the inventory stood at 10,761 homes with a supply of 8.8-months.
Statistics compiled by John Junker, MLS Data Specialist