Dayton Area Home Sales for May 2018

Sales of single-family homes and condominiums reported in May by Dayton REALTORS® totaled 1,595, a two percent dip from the 1,626 sales reported in May 2017. The continued tight inventory played a significant role as consumer choices in existing homes reached a record low for the month of May (2.4 month supply).

May’s median sales price came in at $145,000, beating last year’s figure by over eight percent. The average price of $171,061 also leaped over last year’s number by over eight percent. Sales volume generated by May’s activity totaled $272.8 million, an impressive 6.5 percent jump over last May.

For the first five months of 2018, there were 6,087 sales reported, a one percent increase from 2017 when 6,023 transactions occurred over the same period.

Sales volume showed $965 million in sales transactions so far in 2018, a six percent rise from 2017. The average sales price year-to-date stood at $158,571 and represented a five percent jump over 2017’s year-to-date numbers. The median sales price also grew, from $129,000 in 2017 to $135,000 through May 2018, a four percent increase.

There were 2,149 new listings added in May, down one percent from last year’s 2,173, while year-to-date listings tallied 8,710, a 2.8 percent decrease from the 8,960 submitted through May of last year.

As mentioned previously, total inventory was very low, showing 3,968 properties available at month’s end, representing a supply of only 2.4 months based on May’s pace of sales.