Home sales prices in the Dayton area finished strong in December, according to Dayton Realtors® Multiple Listing Service. The average sale price landed at $152,963 – up ten percent from last year – and a median price of $129,000 – up over seven percent from last year. A sales volume of $164.5 million was a one percent improvement over December 2016.
While prices increased, the number of sales decreased in December. 1,076 single-family and condominiums sales were reported, an eight percent decrease compared to last December’s 1,175 sales. The challenge of available inventory, combined with the usual slowdown of sales this time of year, contributed to this decline.
The overall available inventory at year’s end was 3,378, which calculated to a supply of 3.1-months based on December’s pace of sales. Inventory was down from 2016 levels, when 4,110 listings translated as a 3.5-month inventory of available listings.
Adding in December’s figures, the full year 2017 improved over last year’s record-setting figures in all key areas: average price, median price, solds, and sales volume. Total sales for 2017 reached 16,149, compared to 16,079 in 2016, inching up just one-half percent. The total cumulative sales volume for the year came in at $2.5 billion, compared to $2.3 billion in 2015, a 6.5% jump.
These figures translated into a final average sale price for 2017 of $155,621 and a median sale price of $133,500, both up six percent from last year.
The number of listing entries for the year totaled 20,546, compared to 20,816 in 2016, a decrease of one percent and the inventory on hand hovered around the three-month supply level for most of the year.
|DECEMBER 2017 – MLS SINGLE-FAMILY & CONDO SALES|
|Total Sale Price||$164,587,989||$162,268,929||1.43%|
|% Sale/List Price||97.80||97.40||0.41%|
|Median Sale Price||$129,000||$119,900||7.59%|
|Average Sales Price||$152,963||$138,101||10.76%|
|YEAR END 2017 – MLS SINGLE-FAMILY & CONDO SALES|
|Total Sale Price||$2,513,130,160||$2,360,177,839||6.48%|
|% Sale/List Price||98.1||97.7||0.41%|
|Median Sale Price||$133,500||$125,900||6.04%|
|Average Sales Price||$155,621||$146,786||6.02%|