by Tammy Murphy | Jul 15, 2024 | BLOG, Current Events, GLOBAL, Investor Relations, Market Updates, Neighbor Chat, Networking, Real Estate News, Real Homes to Love
July 2024 Real Estate Market Update: Summer Surge!
Hello, Dayton friends! As we enjoy the warm summer days, we’re excited to share the latest insights from our local real estate market. July has proven to be a month of growth and opportunity, with impressive increases in both sales and prices. Whether you’re considering buying, selling, or just curious about the market, there’s plenty of great news to share!
Market Highlights
In July, we recorded 1,328 home sales, a notable 13% increase compared to July 2023. This surge reflects the heightened demand characteristic of the summer home buying season, indicating that buyers are actively seeking new opportunities in our vibrant community.
The cumulative sales volume for the month reached over $375 million, a remarkable 19% increase from last year. This positive trend demonstrates the strength of our local market and the ongoing interest in homeownership.
Price Trends
Home prices continue to rise, reinforcing the value of investing in real estate in our area. The average sales price in July climbed to $282,427, marking a 5% increase from the previous year. Meanwhile, the median sales price also saw a boost, reaching $246,675, which is up 3% from last July. These increases highlight the growing demand for homes and the value buyers are placing on quality properties.
Year-to-Date Performance
Looking at the overall performance for the first seven months of 2024, the numbers are equally impressive. We’ve seen 8,438 sales year-to-date, representing an 11.9% increase compared to the 7,540 sales during the same period last year. The total sales volume for this year has surged to $2.34 billion, reflecting a 22.8% increase from 2023.
The average sales price year-to-date stands at $277,373, a nearly 10% increase, while the median price has risen to $237,000, up 7.7% from last year. This consistent growth in home values is a positive sign for current homeowners and those considering entering the market.
Inventory Insights
July also saw an increase in new listings, with 1,630 entries, which is a 13% increase compared to last year’s 1,507 listings. For the January-July period, we recorded a total of 10,324 listings, up 14.7% from 2023. However, with 1,673 active listings at the end of July, we currently have about 1.3 months’ supply of homes available, which continues to suggest a competitive market for buyers.
Why This Matters to You
These trends present exciting opportunities for both buyers and sellers. If you’re thinking about selling your home, now may be a great time to capitalize on rising prices. For buyers, understanding the current market dynamics is crucial for making informed decisions in this active environment.
If you have any questions about your home’s value, want to explore your buying options, or need insights into the current market conditions, please don’t hesitate to reach out! We offer no-obligation assessments tailored to your needs.
Let’s Connect!
Our team is here to support you in achieving your real estate goals. As always, stay tuned for more updates, and let’s make the rest of 2024 a successful year in real estate together!
by Tammy Murphy | Jun 17, 2024 | BLOG, Current Events, GLOBAL, Investor Relations, Market Updates, Neighbor Chat, Networking, Real Estate News, Real Homes to Love
Second Quarter 2024 Real Estate Market Update: Resilience and Growth!
Hello, Dayton friends! As we wrap up the second quarter of 2024, it’s time to take a closer look at the real estate market in our area. The latest numbers reveal a market that remains robust, with impressive growth in prices and continued activity despite a slight dip in sales for June. Whether you’re considering buying, selling, or just curious about the market, there’s plenty of exciting information to share!
Q2 Highlights
The second quarter has continued to showcase the strength of our local real estate market. In June, we recorded 1,282 home sales, reflecting a 3.8% decrease from June 2023. However, this minor decline comes on the heels of strong performance in April and May, demonstrating resilience in the face of seasonal shifts.
The cumulative sales volume for June reached $375 million, which is a 5% increase from the previous year. This consistent volume indicates that while sales may have slipped slightly in June, buyer demand remains strong overall.
Price Trends
One of the most notable trends has been the rise in home prices. In June, the average sales price hit a new high of $292,966, marking an impressive 9.5% increase from last year. The median sales price also rose to $255,000, up 8.9%, setting another peak in our market. These increases reflect a continuing trend of rising home values, making it a great time for homeowners to consider their selling options.
Year-to-Date Performance
Looking at the first half of 2024, we see a strong performance overall. There were 7,075 sales recorded, representing an 11% increase from the 6,365 sales in the first half of 2023. The cumulative sales volume for this period reached an impressive $1.96 billion, a 23% increase year-over-year.
The average sales price year-to-date stands at $276,568, up 10% from last year, while the median price increased to $235,000, reflecting a 9% rise. This steady growth in prices signifies a healthy market and increased demand for homes.
Inventory Insights
June also brought 1,608 new listings, up 9% from last year. For the first half of the year, 8,689 listings were submitted, marking a 16% increase compared to 2023. However, with 1,673 active listings at the end of June, we have just a 1.3-month supply of homes available, which continues to indicate a competitive environment for buyers.
Why This Matters to You
The second quarter results highlight both opportunities and challenges in our market. For sellers, rising prices and strong demand could translate to a favorable selling environment. For buyers, understanding current trends and acting quickly is crucial in this fast-paced market.
If you have questions about your home’s value, want to discuss your buying options, or need insights into the current market conditions, please don’t hesitate to reach out! We offer no-obligation assessments tailored to your unique needs.
Let’s Connect!
Our team is here to support you in achieving your real estate goals. As always, stay tuned for more updates, and let’s make the remainder of 2024 a successful year in real estate together!
by Tammy Murphy | May 13, 2024 | BLOG, Current Events, GLOBAL, Investor Relations, Market Updates, Neighbor Chat, Networking, Real Estate News, Real Homes to Love
May 2024 Real Estate Market Update: Strong Sales and Rising Prices!
Hello, Dayton homeowners and future buyers! As we dive deeper into 2024, we’re thrilled to bring you the latest updates from our local real estate market. May has been a remarkable month, showcasing impressive growth in both sales and prices. Whether you’re considering buying, selling, or simply curious about the market, there’s a lot of exciting news to share!
Market Highlights
In May, we saw a total of 1,360 home sales, reflecting a 6% increase from the 1,283 sales reported in May 2023. This trend of increasing sales continues, demonstrating resilience against the typical seasonal slowdowns that often characterize this time of year.
The total sales volume for May reached $392 million, marking a robust 17% increase compared to the same month last year. Such strong activity is a positive sign of the health and vibrancy of our local market!
Price Trends
The upward trajectory in home prices remains a key story in our market. The median sales price hit $250,000, representing an 11% increase from last year. The average sales price also rose, reaching $288,362, which is 11% higher than May 2023. These increases reflect strong demand and a competitive market that favors homeowners looking to sell.
Year-to-Date Performance
As we look at the first five months of 2024, the trends continue to impress. There have been 5,770 sales, which is a 14% increase from the same period last year. The total sales volume for this timeframe has soared to $1.57 billion, a remarkable 27% increase compared to 2023. The average sales price year-to-date stands at $272,424, showing an 11% rise, while the median price has also increased to $230,000, up 9% from last year.
Inventory Insights
In May, there were 1,753 new listings, which is a 23% increase from last year’s 1,419. Year-to-date listings have also seen a rise, with a total of 7,077 listings submitted—up 17% from 6,020 last year. However, with only 1,540 active listings at the end of May, the inventory represents just over one month’s supply based on the current sales pace, indicating a competitive market for homebuyers.
Why This Matters to You
These trends present an exciting opportunity for buyers and sellers alike. If you’re thinking of selling, rising prices could mean a great return on your investment. For buyers, navigating a competitive market can be challenging, but we’re here to help you every step of the way.
If you have questions about your home’s value, want to explore your buying options, or need guidance on the current market, please don’t hesitate to reach out. We offer no-obligation assessments tailored to your needs.
Let’s Connect!
Our team is dedicated to helping you achieve your real estate goals, whether you’re looking to buy, sell, or simply explore your options. Stay tuned for more updates, and let’s make 2024 a fantastic year for real estate together!
by Tammy Murphy | Apr 30, 2024 | BLOG, Buyers, Current Events, For Rent, Investor Relations, Neighbor Chat, Networking, Podcast, Real Estate News, Real Homes to Love, RENTAL, Sellers
Decoding Land Contracts: A Blueprint for Real Estate Success
Welcome to our latest podcast episode, where we delve deep into the fascinating world of land contracts. If you’ve ever wondered about the intricacies of these contracts and the opportunities they offer to both buyers and sellers in real estate transactions, then this episode is a must-listen for you.
We begin by unraveling the complexities of land contracts, shedding light on the fundamental concepts that underpin these agreements. Whether you’re a prospective buyer or seller, gaining a deeper understanding of land contracts can provide you with invaluable insights and knowledge to make informed decisions.
One of the key takeaways from this episode is the importance of working with experienced professionals such as your Realtor and Legal Counsel. These experts play a vital role in guiding you through the nuances of land contracts, ensuring that your financial needs and goals are met with clarity and transparency.
By fostering open and honest communication with your team of professionals, you can pave the way for a successful transition to your next home. Whether you’re looking to buy or sell real estate, the knowledge gained from this episode will empower you to navigate land contracts with confidence and precision.
Don’t miss out on this opportunity to gain a blueprint for real estate success. Tune in to our podcast episode and unlock the secrets of land contracts, setting the stage for a seamless and rewarding real estate journey. Your dream home awaits, and understanding land contracts is the key to unlocking its doors.
https://youtu.be/oUFfB0TD9-Y
by Tammy Murphy | Mar 18, 2024 | BLOG, Current Events, GLOBAL, Investor Relations, Market Updates, Neighbor Chat, Networking, Real Estate News, Real Homes to Love
Hello, Dayton community! As we embrace the spring season, we’re excited to share the results from the first quarter of 2024. The Dayton real estate market has shown remarkable strength, and we have plenty of encouraging news to discuss. Whether you’re thinking about buying, selling, or simply curious about the market, there’s something here for you!
March Highlights
March was a standout month, with 1,197 home sales reported—an increase of over 5% from March 2023. The cumulative sales volume reached an impressive $333.9 million, reflecting a 19% year-over-year increase. The upward trend in prices continued, with the average sale price climbing to $278,971, up 13% from last year, and the median sale price also rising to $232,000—a 13% increase. This strong performance highlights the ongoing demand for homes in our area.
First Quarter Performance
Looking at the first three months of 2024, we see even more positive trends. There were a total of 3,209 sales, marking a 14% increase compared to the same period last year. The total sales volume for the quarter reached $856 million, a nearly 30% increase from 2023. The year-to-date average sale price stands at $266,844, while the median sale price has risen to $225,000—both reflecting a 13% increase from the previous year.
Inventory and Listings
In March, 1,432 new listings were added to the market, slightly up from 1,423 last year. The year-to-date listings totaled 3,858, which represents a 9% increase. However, with 1,269 active listings at the end of March, we see just one month’s supply of homes available, indicating a competitive market for buyers.
What This Means for You
These positive trends present exciting opportunities for both buyers and sellers in our market. If you’re considering selling your home, the rising prices could mean a great return on your investment. For buyers, understanding the competitive landscape is crucial, and we are here to help you navigate this vibrant market.
If you have questions about your home’s value, want to explore your buying options, or need insights into current market conditions, don’t hesitate to reach out. We offer no-obligation assessments tailored to your needs.
Let’s Connect!
As always, our team is dedicated to supporting you in your real estate journey. Stay tuned for more updates and insights as we progress through 2024. Let’s make this year a great one in real estate together!
by Tammy Murphy | Mar 12, 2024 | BLOG, Buyers, Client Testimonials, Commercial Properties, Current Events, Estate Planning, Facing Foreclosure, GLOBAL, Investor Relations, LENDERS, Military, Neighbor Chat, Networking, Podcast, Real Estate News, Real Homes to Love, Sellers, Senior Living
We hinted about a project late last year, and are happy to announce that The Real-Tea Podcast is Available Now!
This twist on a Real Estate Podcast presents from a Professional view with a Client Perspective, join Tammy Murphy and Elle Sollenberger, as they spill The Real-Tea about buying and selling Real Estate. You will get to meet our hosts and learn what brought the Realtor and Client together for this fun and sometimes quirky podcast. The years they have shared in working together in multiple deals and different market scenarios is beneficial for anyone looking to Buy or Sell a house.
Curious about our episodes??
check it out on YouTube (video) https://www.youtube.com/@realhomestolove3939/podcasts
or Spotify (audio only) https://podcasters.spotify.com/pod/show/real-homes-to-love
