Dayton Area Home Sales for January 2009
The slow pace of single-family sales activity continued into 2009 where it left off in 2008. The 520 properties reported sold represented a 22.3% dip compared to the same month a year earlier. A sales volume of just over $53.7 million resulted in an average sale price for the month of $103,323, a decline of 11% compared to the $116,161 average reported in January of 2008.
The median price for January fell even further to $75,000. Compared to the January 2008 median price of $95,000, this is a 21% decline.
Harry Vearn, 2009 president of the Dayton Area Board of REALTORS®, offered his perspective on the median price. “REALTORS® are selling homes, but many of them are lower-priced residences. I think the drop in the median price may be due in part to the large number of foreclosures and subsequent bank sales taking place in the current market at much lower than normal prices.”
The number of single-family listings submitted during the month of January reached a total of 1,700 compared to 2,618 a year earlier, a decline of 35%. This is an increase, however, over November and December of 2008, when totals of only 1,470 and 1,369 listings were added to the inventory.
The total single-family inventory at the end of January showed 8,303 homes available for sale. This represented a supply of just under 16 months, based on the sluggish pace of sales for the month. This is up from a supply ratio of 11.8-months at the end of December. At the end of January last year, a supply of 9,299 listings was in the inventory, which represented a 13.8-month’s supply, based on the sales pace at that time.
Statistics compiled by John Junker, MLS Data Specialist