Dayton Area Home Sales for November 2004
After an interruption in October, the string of record-breaking months for single-family sales activity in the Dayton area resumed with a new November record, according to sales reported to the Board’s Multiple Listing Service. Nationally, a new sales record for any month for existing single-family homes was set, as homes sold at an annual pace of 6.94 million in November, which was a 13.2% increase compared to November 2003.
Locally, the 946 sales transactions reported, eclipsed last November’s record by 111 units or 13.2%, exactly at the national pace. Sales volume generated by this activity reached $126,413,385, and the average sale price for the month was $133,629 or 10.1% higher than last November’s $121,301. Interestingly, this also was nearly the same as the percentage of increase nationally in the average sale price compared to last November, which was 10.4%.
Year-to date, 12,402 single-family sales have been reported to the MLS, compared to 11,002 last year, during the same period, a 12.72% improvement. Over $1.65 billion in sales volume Year-To-Date compares to about $1.44 billion last year, and has generated an average sale price of 133,416, or a 1.8% appreciation.
New single-family listings submitted in November totaled 1,702, a huge 35.8% increase over last November’s 1,253. Through the first 11 months of 2004, 23,120 single-family listings have been processed through the Dayton MLS, compared to 19,784 last year, a 16.76% increase. Single-family inventory at month’s end showed 6,558 listings available for sale, down 181 units from October, and a 6.93 month's supply based on November’s resale rate. Last year at the same time, only 5,523 homes were available and the supply stood at 6.61 months.
The Dayton Area Board of REALTORS® is the local chapter of the National Association of REALTORS® and represents over 2,800 members and affiliates in the Dayton area.
Statistics compiled by John Junker, MLS Data Specialist