Dayton Area Home Sales for August 2009
Single-family sales reported to the Board’s MLS for August once again showed figures in positive territory, sparking hope that a turnaround in our local market could be in progress. A total of 1,011 sales were completed for the month, which, although down a slight 37 sales from July, topped last August’s figure by a modest but significant 4 units or 0.40%. This marks only the second year-over-year increase in over two years, and those two instances have come in the last two months.
August’s activity generated $130.6 million in cumulative sales volume, an increase of 2.46% over the same month a year earlier, which translates into an average sale price for the month of $129,214. This is a decline over July’s average of $139,786, which is typical of most years when the average price of homes begins to slide after mid-summer. However, it represents an increase of 2.06% compared to last August’s average of $126,608. The median sale price for the month was $115,000 per unit, a 3.6% jump over August 2008.
Not surprisingly, sales for 2008 year-to-date numbers still show declines, but the previous two months have helped to improve those figures. Total single-family sales for the January-August period have now reached 6,920, compared to 7,704 last year, a drop-off of just over 10%. Sales volume is down 15.5%, and the average sale price which now stands at $122,118 is down 6%, much less than in many other areas of the country. The year-to-date median sales price stands at $103,000, down 8.7% compared to 112,900 during the same period in 2008.
Single-family listings submitted during August totaled 1,944, down from last year’s 2,407 (down 19.2%). This brings the year’s total to 15,719 total listings, a 21.4% decline. The overall MLS single-family inventory, which has remained very steady all year, stands at 8,744 available properties for sale, representing an 8.6-month’s supply of listings, almost identical to the last month’s 8.4-month supply. The comparable supply in 2008 was much higher, when the inventory stood at 10,497 listings, with a supply of 10.4 months.
AUGUST 2009 - MLS SINGLE-FAMILY SALES SUMMARY |
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2009 |
2008 |
% Change |
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Single-Family Listings |
1944 | 2407 | -19.24% |
Solds |
1011 | 1007 | 0.40% |
Total List Price |
$137,093,285 | $133,050,727 | 3.04% |
Total Sale Price |
$130,635,776 | $127,494,754 | 2.46% |
% Sale/List Price |
95.29 | 95.82 | -0.55% |
| Median Sales Price | $115,000 | $111,000 | 3.60% |
Average Sales Price |
$129,214 | $126,608 | 2.06% |
Statistics compiled by John Junker, MLS Data Specialist