The following information was just released through our Dayton Area Board of Realtors – many times I am asked, “how are we doing” – locally, times shifted – but they weren’t nearly as bad as all the National spotlights. Read and see for yourself what the actual transactions in our area represent:
December’s numbers bring to a close a year of challenging home sales. As Harry Vearn, 2009 president of the Dayton Area Board of Realtors stated, “The decline in home sales fell in lock-step with the tougher economic climate, but the good news continues to be the affordability and inventory of homes, along with historically low interest rates for mortgages. If consumers are smart with their finances and are in the market to buy, it’s an unprecedented time to make the leap. Yes, the market is tough, but right now the factors I just listed make real estate a very attractive option.”
The year ended without any real surprises in the MLS numbers. As expected, price, volume, and sales were lower than in 2007. Down nearly 16% from 2007, sales for 2008 totaled 11,037, while the number of listings submitted to the MLS came to 26,620 (a change of –9% from last year).
The total sales volume for 2008 came to almost $1.4 billion, a sharp 21% off of 2007’s pace of $1.7 billion. These figures brought the average sales price to $125,348, down only 7%. Meanwhile the median price also fell by about 7%, to $108,000.
“While the numbers were lower this year than last, we in the Dayton area can take some comfort in the fact that the average sale price only fell 7%. While many, many cities and states are suffering from double-digit losses, the Miami Valley weathered the storm respectably last year,” stated Vearn.
Statistics compiled by John Junker, MLS Data Specialist