Dayton Area Home Sales for June 2006
After five months of year-over-year increases in sales of single-family units reported to the Dayton Board’s MLS, June’s activity was virtually unchanged compared to June of 2005. The 1,476 sales of existing homes in June this year, although an increase over May’s 1,369, was a slight 3-unit decline from last June’s 1,479 sales.
Our local activity, however, remains strong compared to sales reported both regionally and nationally by the National Association of Realtors. The pace of sales was down 6.2% for the Midwest region and 9% nationally compared to a year ago. The 6-month sales total for the Dayton-area now stands at 7,197 a 5% increase compared to the 6,854 transactions reported during the first half of 2005.
Sales volume for June reached $222.5 million and generated an average sale price for the month of $150,752, a 4.46% appreciation over last June’s $144,318. This is the largest monthly increase in home values this year.
The average sale price depreciated in each of the first three months and was down 2.29% for the first quarter, but has since rebounded, and was up 2.20% for the second quarter. The year to-date average for the first half stands at $135,383 per single-family unit, a slight 0.32% increase compared to the same period in 2005.
Single-family listings added in June totaled 3,058, an 11.85% jump compared to last year’s 2,734. The first half of 2006 has seen 16,383 listings added to the MLS, a 16.46% increase over the January-June period in 2005.
A steadily increasing inventory has created a market environment very favorable to buyers. Available single-family homes on the market in the Dayton MLS at month’s end stood at 9,854. This represents a 6.6-month supply based on June’s sales pace. This compares to 7,624 listings and a 5.1-month supply at the same time last year.
Nationally, according to NAR, inventory at the end of June was at 3.7 million, up 39% from a year ago. This translates into a 6.8-month supply of homes for sale at the current sales pace, compared to only a 4.4-month supply at the end of June 2005.
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