Have Dayton Area Real Estate and Home Sales Improved?

Hot of the press! The Dayton Area Board of Realtors just released a summary and comparison for Single-Family Home Sales between 2009 and 2010. Comparatively, the overall numbers look great! There appears to be roughly a 40% increase in total sales prices. We hope this will continue even after June 30th (when closings for First Time Home Buyer Credits must be completed). However, we have no solid statistics to predict what will happen next. Thankfully, this summary gives us room to hope!

MAY 2010 - MLS SINGLE-FAMILY SALES SUMMARY
       
  2010 2009 % Change
       
Single-Family Listings 1890 2055 -8.02%
       
Solds 1200 853 40.68%
Total List Price $159,514,736 $113,871,188 40.08%
Total Sale Price $152,359,114 $107,872,357 41.24%
% Sale/List Price 95.51% 94.73% 0.82%
Median Sales Price $115,000 $110,000 4.55%

Average Sales Price

 $126,966 $126,462

0.40%
 
 
      
June 22nd, 2010 – "Single-family sales soared to a total of 1,200 in May, the most since August of 2007, and represented over a 40% increase compared to the 853 sales reported in May of 2009. This robust activity brought the year-to-date total for 2010 thru May to 4,324, compared to 3,712 last year during the same reporting period, an increase of 16.5%.
 
This activity produced a total dollar volume for the month of $152,359,114 and an average sale price per unit of $126,966, a slight .4% increase over last May’s $126,462. This continues a streak of 11 consecutive months of year-over-year increases in the average sale price. The median sale price for the month was $115,000, a 4.55% jump over last May’s figure.
 
Year-to-date sales volume has now reached over $524.7 million in single-family sales activity. The average sale price thru May stands at $121,356, a healthy appreciation of 9.2% compared to $111,148 in 2009. The median sale price thru May stands at $107,000, compared to just $90,000 last year, a considerably higher 18.9% year-over-year increase.
 
Single-family listings submitted during the month were down for the first time this year. The 1,890 listings added were 8% fewer than the 2,055 last May. For 2010 to date, however, 10,484 listings represent a 9.3% increase over the 9,590 submitted through May 2009.
 
Overall single-family inventory at the end of the reporting period showed 8,980 properties available for sale, up from 8,594 a month ago. However, the supply has slid to 7.5 months of properties for sale based on May’s very rapid sales pace, compared to a supply at the end of April of 8.3 months. Last year, at the same time, the inventory was at a nearly identical figure of 8,922, but the supply was much higher at 10.4 months, with 347 fewer sales than during this May."