Dayton Area Home Sales for January 2005
After a banner year in 2004, residential sales activity in January picked up where last year’s pace left off, as a total of 712 single-family properties were reported sold. This total shattered last year’s January record by 104 units or 17.1%. New records for January have been set in three of the last four years. A record sales volume of $92,584,268 produced an average sale price of $130,034, a 9.43% increase over January 2004 when this figure began the year at a very low $118,828. This January’s figure is a decline of 2.3% compared to 2004’s year-end figure of $133,180, however the monthly average didn’t surpass $130,000 last year until May.
Single-family listing totals for January nearly paralleled last year’s activity as the 1,745 submissions was only 16 units more than last year’s total for the month. The overall number of single-family listings in the MLS inventory at month’s end stood at approximately 6,220 or an 8.7 -month’s supply based on January’s resale rate. Last year at the same time, there were only 5,354 homes available, but the ratio was nearly identical at 8.8 months due to a slower resale rate. The supply ratio typically begins the year very high and declines steadily as the resale rate picks up in the spring and summer 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