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|
|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