Dayton Area Home Sales for January 2006
An exceptionally mild January helped keep sales activity moving at a good clip in the Miami Valley, as 782 single-family homes were reported sold to the Board’s Multiple Listing Service for the month. Although existing home sales slipped 5% nationally compared to January 2005, as reported by the National Association of REALTORS®, our local sales figure was a 10.7% increase compared to last January’s record 706 sales.
A sales volume of $100.7 million generated an average sale price of $128,827 per unit, which was a slight .4% decline compared to a year earlier. This is the third consecutive small decline in monthly year-to-year comparison, as a growing single-family inventory seems to be putting some downward pressure on home prices. Buyers have plenty of homes to choose from at the present time, which is creating a more competitive market among sellers.
The number of single-family homes added to the inventory in January totaled 2,360, a huge 35.2% increase over the same period a year earlier when 1,745 were submitted.
According to NAR, single-family home inventories are on the rise nationally, as well. The overall inventory for the Dayton MLS at month’s end stood at exactly 7,800 or a 9.9-month's supply based on January’s resale rate. This compares to 7,408 available properties and a 7.7-month’s supply at year-end 2005, and 6,220 and an 8.7-month’s supply at the end of January 2005.
Statistics compiled by John Junker, MLS Data Specialist