Home sales prices in the Dayton area finished strong in December, according to Dayton REALTORS® Multiple Listing Service. The average sale price landed at $165,838 – up over eight percent from last year – and a median price of $140,000 – also up eight percent from last year. A sales volume of $170.6 million was a three percent improvement over December 2017.
While prices increased, the number of sales decreased in December. 1,029 single-family and condominiums sales were reported, a four percent decrease compared to last December’s 1,076 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 3,415, which calculated to a supply of 3.3-months based on December’s pace of sales. Inventory was up from 2017 levels, when 3,378 listings translated as a 3.1-month inventory of available listings.
Adding in December’s figures, the full year 2018 improved over last year’s record-setting figures in all key areas: average price, median price, solds, and sales volume. Total sales for 2018 reached 16,266, compared to 16,149 in 2017, inching up just over one-half percent. The total cumulative sales volume for the year came in at $2.6 billion, compared to $2.5 billion in 2017, a seven percent jump.
These figures translated into a final average sale price for 2018 of $165,586 and a median sale price of $142,000, both up six percent from last year.
The number of listing entries for the year totaled 20,672, compared to 20,546 in 2017, an increase of one-half percent and the inventory on hand hovered around the three-month supply level for most of the year.
|DECEMBER 2018 – MLS SINGLE-FAMILY & CONDO SALES|
|Total Sale Price||$170,647,178||$164,587,989||3.68%|
|% Sale/List Price||98.00||97.80||0.20%|
|Median Sale Price||$140,000||$129,000||8.53%|
|Average Sales Price||$165,838||$152,963||8.42%|
|JAN-DEC. 2018 – MLS SINGLE-FAMILY & CONDO SALES|
|Total Sale Price||$2,693,417,846||$2,513,130,160||7.17%|
|% Sale/List Price||98.5||98.1||0.41%|
|Median Sale Price||$142,000||$133,500||6.37%|
|Average Sales Price||$165,586||$155,621||6.40%|