Dayton Area Home Sales for February 2009
The pace of residential single-family sales picked up during February compared to the previous month, as the 635 units reported sold were 115 more, or a 22% increase over January’s total. The month’s activity was down 18.6%, however, in a year-over-year comparison with February 2008’s total of 781.
A cumulative sales volume of $59.5 million in February generated an average sale price of $93,762 and a median sales price of $75,000. These figures were down 20.5% and 25%, respectively, from 2008.
Total single-family sales for the first two months of the year have reached 1,170, down 19.9% compared to the same reporting period in 2008. The average price year-to-date is $98,620 per unit (down 15%), while the median stands at $79,900 (down 18%).
Single-family listings submitted during February totaled 1,677, a decline of 29.1%, compared to 2,367 listings in February 2008. Year-to-date, 3,374 listing entries have been added to the MLS inventory, or 32% less than a year earlier.
The overall available single-family inventory stood at 8,612 listings at the end of the two-month period, which represented a supply of 13.5 months based on February’s pace of sales, slightly down from the 13.8-month supply at the end of January. Last year at the same time the inventory showed 9,567 available single-family listings, but the pace of sales was a slightly faster 12.2 months.
Statistics compiled by John Junker, MLS Data Specialist