Dayton Area Home Sales for February 2010
The single-family average sale price for February increased over the same period last year almost 19%, from $93,762 in 2009 to $115,450 this year, generated from a sales volume of $65.7 million. This is now the eighth consecutive month of increases in year-over –year comparison for home values in our area.
The median sales price for the month rose 24.2% from $75,001 to $ $99,000. The percentage sale/list price was also up again this month at 95.2% compared to 93.4% last year, an increase of nearly 2%.
For the first two months of 2010 the average sale price is up 13.6% from $98,620 to $114,155. The median sales price has also risen 15.4% over the 2009 January-February period from $79,900 to $94,500.
The number of sales transactions in February declined in year-over –year comparison by 11.6%, from 635 last year to 569 this year. This decline can be attributed at least in part to the harshness of the weather. The number of monthly sales has either remained equal to or increased compared to the previous year in 8 out of the last 9 months.
Single-family listings added to the inventory in February totaled 1,782 compared to 1,677, an increase of almost 6% compared to February 2009. Year-to-date listings total 3,505 up 3.7% from last year’s 3,374. Listings submitted have been up in each of the first two months in 2010, after being down in 10 out of 12 months in 2009.
The overall single family inventory shows 8,082 listings available and represents a 14.2-month’s supply based on February’s pace of sales. This is up from January’s 7,835 listings, but the supply ratio has dropped from January’s 15 month supply, when only 520 properties sold.
Last year at the same time there were 8,612 listings available, but the supply was slightly less at 13.5 months due to the sales pace also being slightly higher. The inventory has been easing steadily down compared to the same month in the previous year, but based on simple “supply and demand” this fact has helped stimulate the increase we’ve seen in home values.
FEBRUARY 2010 - MLS SINGLE-FAMILY SALES SUMMARY |
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| 2010 | 2009 | % Change | |
| Single-Family Listings | 1782 | 1677 | 5.89% |
| Solds | 569 | 635 | -11.60% |
| Total List Price | $69,006,003 | $63,751,455 | 7.61% |
| Total Sale Price | $65,691,158 | $59,538,720 | 9.37% |
| % Sale/List Price | 95.2 | 93.39 | 1.90% |
| Median Sales Price | $99,000 | $75,001 | 24.24% |
| Average Sales Price | $115,450 | $93,762 | 18.79% |
Statistics compiled by John Junker, MLS Data Specialist