Monday, April 23, 2012 / by Jason White
Dayton Area Home Sales for March and 1st Quarter 2012...
Sales activity of single-family residences and condominiums reported by the Dayton Area Board of Realtors in March resulted in the most impressive numbers since August of last year and topped those of March 2011 by a considerable margin. The 932 March sales bested February’s total by 36%. In year-over-year comparison, the number of solds was 15.9% better than last March’s 805 sales.
Sales volume for March was over $107.1 million, 40.9% better than the $76.2 million reported in March 2011. Significantly, the increase in sales volume was not just a result of more sales, but also a result of improved average sales prices in a year-over-year comparison. The average sale price per unit came in at $114,930 in March, a 21.4% appreciation over last March’s $94,652, and the median price landed at $92,900, a 31.7% jump compared to $70,550 last March.
March’s great showing for sales transactions brought the first quarter total for 2012 to 2,228. This bested 2011’s January-March total of 2,030 by 198 units or 9.7%. First quarter sales volume reached $239 million, an increase of 15.6% over the first quarter 2011.
The average sale price for the first quarter was $107,293 and the median price was $86,000. These were improvements of 5.32% and 10.26% respectively, compared to the first quarter 2011.
Listings submitted was the only figure which remained down. March’s total tallied 2,119 single-family and condo listings, a decline of 11% compared to 2,382 in March 2011. First quarter figures also remained lower at 5,361 for 2012, compared to 5,781 during the same period last year, a decline of 7.2%.
Overall MLS listing inventory increased from February’s 7,242 to 7,575 available listings at the end of March. The supply of available listings, however, based on March’s very active sales pace dropped to 8.1 months, down from 10.5-months at the end of February. In 2011 at the same time the inventory was much higher at 8,982 and the supply stood at 11.1 months.
-Dayton Area Board of Realtors