Dayton Area Home Sales for December and Year-End 2010
The final two quarters of residential real estate sales in the Miami Valley, as reported by the Dayton Area Board of Realtors Multiple Listing Service, proved to be the polar opposite of the first two quarters in 2010. The first six months saw mostly year-over-year increases in number of sales and average sale prices, while the second half saw those gains gradually erode. Surprisingly, strong numbers in December helped the final 2010 average sale price squeak into positive territory, the first time it has done so since 2005.
The average sale price for single-family properties finished the year at $123,544, a tiny increase of .22 percent over 2009. The number of homes sold through the MLS totaled 10,058, a 5.8% decrease from 2009’s 10,680 sales. This activity generated over $1.24 billion in total volume, down just 5.6% from 2009. The median sale price for the year came in at $105,000, which was identical to last year’s median.
Single-family listings submitted in 2010 totaled 23,053, compared to 21,978 in 2009, a 4.9% increase. At the beginning of the 2010, 7,611 active listings were available for sale. Inventory peaked at 9,224 listings in July, before declining through the fall. By year’s end, there were a total of 7,722 active listings available for sale. This total represented a 10.7-month’s supply based upon the latest resale rate, which picked up considerably in December.
In December, 718 transactions took place. This compares to just 599 sales in November, an increase of almost 20%. This is a very atypical increase in sales from November to December when activity is almost always declining as the end of the year approaches. This was also just 8 units less than last December, the smallest year-over-year decline in the last six months of 2010.
The sales volume generated by this activity reached $88.4 million, a 1% increase over last year’s comparable figure, and translated to an average sale price for the month of $123,119, an appreciation of 2.3% over last December’s average. This was the first year-over-year appreciation in the average sale price since June.
The median sale price for the month showed an even greater increase as the December figure of $102,500 was a 6.7% jump over the $96,000 median figure reported in December 2009. This is the first year-over-year increase in this figure since May.
Listings submitted in December totaled 1,379, a 10.6% increase over last year’s 1,246. The total active inventory of available single-family listings at the close of 2010 was 7,722, down from November’s 8,010.
The supply of listings at year’s end, based on December’s pace of sales, was 10.7-months, significantly down from last month’s 13-month supply when the inventory was larger and the sales pace was much slower.
Last year at the same time the inventory stood at 7,611, up a slight 1.4% from this year’s 7,722. The supply then was 10.4-months, very comparable to this year’s supply with the sales pace and inventories nearly the same.
YEAR-END 2010 - MLS SINGLE-FAMILY SALES SUMMARY |
| | | | |
| | 2010 | 2009 | % Change |
| | | | |
| Single-Family Listings | 23053 | 21978 | 4.89% |
| | | | |
| Solds | 10058 | 10680 | -5.82% |
| Total List Price | $1,309,675,043 | $1,389,608,304 | -5.75% |
| Total Sale Price | $1,242,607,412 | $1,316,551,714 | -5.62% |
| % Sale/List Price | 94.88 | 94.74 | 0.15% |
| Median Sales Price | $105,000 | $105,000 | 0.00% |
| Average Sales Price | $123,544 | $123,273 | 0.22% |
DECEMBER 2010 - MLS SINGLE-FAMILY SALES SUMMARY |
| | | | |
| | 2010 | 2009 | % Change |
| | | | |
| Single-Family Listings | 1379 | 1246 | 10.67% |
| | | | |
| Solds | 718 | 726 | -1.10% |
| Total List Price | $93,315,536 | $92,041,356 | 1.38% |
| Total Sale Price | $88,399,127 | $87,390,238 | 1.15% |
| % Sale/List Price | 94.73 | 94.95 | -0.23% |
| Median Sales Price | $102,500 | $96,000 | 6.77% |
| Average Sales Price | $123,119 | $120,372 | 2.28% |
Statistics compiled by
John Junker, MLS Data Specialist
