Dayton Area Home Sales for November 2008
Single-family sales transactions completed through the Dayton MLS for November reached 630, a decline of 28.7% compared to November of 2007. A sales volume of $69.7 million generated an average sale price for the month of $110,729 and a median price of $89,900. These figures represented slides of 12.6% and 16.9% respectively, in year-over-year comparison.
This slowdown in local sales activity is a reflection of the ongoing downward factors slowing the housing market, and the economy as a whole. However, lower prices have made the current market environment excellent for buyer's looking for real bargains.
The year-to-date figures show a less steep decline as total sales for the eleven-month period have now reached 10,260 single-family units compared to 12,274 during the same period in 2007, a drop-off of 16.4%. The overall volume shows $1.3 billion in sales activity, translating into an average sale price of $127,009 and a median sale price of $110,000. These are both single-digit declines (6.4%), representing far steadier market values than in many other parts of the country.
Single-family residential listings submitted for sale to the MLS during the month of November totaled 1,470, a decline of about 24% in year-over-year comparison. For the January-November period the MLS has now had a tally of 25,256 listings submitted, just 9% fewer than during the same period last year.
November's inventory represented a supply of 14.3 months based on the slow pace of sales during the month. Last year's inventory at the same time stood at 9,929 single-family listings and represented a supply of 11.2 months.
Statistics compiled by John Junker, MLS Data Specialist