Dayton Area Home Sales for November 2009
Single-family sales reached a total of 900 in November, a huge 42.8% increase over last November. This is the fifth consecutive year-over-year increase and is by far the largest increase this year compared to the same time period in 2008. Although down 94 units from October, the drop off is not nearly as steep as last year’s 251-unit decline at the beginning of the holiday period.
November’s activity generated a sales volume of over $115.6 million, a 65.7% jump compared to last November. This produced an average sale price of $128,464, an increase of 16%. The median for the month came in at $112,700, up 25.3%. These are also the largest increases year-over-year during 2009 by wide margins.
“The number of sales we’ve seen continues a very positive trend toward some real recovery in our local housing market,” said Harry Vearn, president of the Dayton Area Board of Realtors. “The fact that home prices are going up with the increase in sales activity is a good indication that we aren’t seeing just a surge in transactions of low priced homes.”
Although still down compared to the same period in 2008, the year-to-date figures are improving steadily due to the upswing in activity during the last five months. Single-family sales now total 9,923 year-to-date, compared to 10,260 last year, down now just 3.28%. At the end of June, this year-over-year gap stood at 13.7%.
Volume year-to-date has reached a figure of over $1.22 billion, down 6% from 2008, and has generated an average sale price of $123,417, down just 2.8%. The median now stands at $106,000, now down 3.6%. In comparison, these figures showed year-over-year declines of 9.9% for the average and 13.3% for the median at the end of June this year.
Single-family listings submitted in November represent the only statistical figure that declined compared to last November. The month’s 1,439 listings represented a slight 2.1% decline compared to 1,470 a year earlier. Year-to-date listings remain down 17.8%, at 20,749 compared to 25,256 in 2008 thru November.
The active inventory at month’s end had fallen to 7,894 available single-family listings and the supply stood at 8.7 months. This compares to an inventory of 9,052 in 2008 at the same time, and a huge supply at that time of 14.3-months when the pace of sales was much slower.
NOVEMBER 2009 - MLS SINGLE-FAMILY SALES SUMMARY |
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| 2009 | 2008 | % Change | |
| Single-Family Listings | 1439 | 1470 | -2.10% |
| Solds | 900 | 630 | 42.85% |
| Total List Price | $121,851,224 | $74,336,204 | 63.90% |
| Total Sale Price | $115,617,260 | $69,759,263 | 65.73% |
| % Sale/List Price | 94.88 | 93.84 | 1.10% |
| Median Sales Price | $112,700 | $89,900 | 25.36% |
| Average Sales Price | $128,464 | $110,729 | 16.00% |
Statistics compiled by John Junker, MLS Data Specialist