Dayton Area Home Sales for March 2011

Dayton Area Home Sales for March 2011

While sales of single-family and condominiums were up in the month of March compared to February’s total (805 transactions versus 637 in February), the year-over year comparison shows a market still facing the challenges of economic recovery.  March totals showed a 17.7% decline over last March’s 978 sales. It is worth noting that it was at this time in 2010 when the $8,000 tax credit was in full gear, spurring activity through the first six months of last year.

March sales activity generated $76.2 million in volume with an average sale price of $94,652. The median sale price was $70,550. These figures were down 21.4% and 30.8% respectively from March 2010.

The first quarter sales total has reached 2,030 compared to 2,140 during the same period last year, a much lesser decline of 5.14%. The cumulative sales volume for this period was $206.8 million. The first quarter average came in at $101,877, down 12.5% in year-over-year comparison, and the median was $78,000, down 20%.

March saw 2,382 single-family and condominium listings added to the MLS compared to 2,752 last March, a decline of 13%. A total of 5,781 listings have been added in 2011 through March. Last year’s figure was 10.6% higher at 6,470 listings.

The overall MLS inventory at the close of the third quarter stood at 8,982 listings, or just over an 11-month’s supply based on March’s resale rate. The inventory was up almost 300 units from February’s figure, when 8,686 single-family and condos were available and the supply showed a 13.6-month’s supply, with the February sales pace being slower. Last year at the same time 8,565 listing were available, which represented a supply of 9.2 months.

    MARCH 2011 – MLS RESIDENTIAL SALES SUMMARY
       
  2011 2010 % Change
       
Single-Family Listings 2382 2752 -13.44%
       
Solds 805 978 -17.69%
Total List Price $81,052,955 $124,008,440 -34.64%
Total Sale Price $76,195,250 $117,771,562 -35.30%
% Sale/List Price 94.01 94.97 -1.01%
Median Sales Price $70,550 $102,000 -30.83%
Average Sales Price $94,652 $120,421 -21.40%

Statistics compiled by John Junker, MLS Data Specialist   http://www.dabr.com/statcenter/market_stats/2011/releases/2011-03.html

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