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Wednesday, February 23, 2011

January home sales decline 23 percent

January home sales decline 23 percent

Dayton-area home sales in January mirrored sales numbers of a year ago, representing a slump in sales from December highs.

In January, there were 554 single-family home sales, a difference of only five sales from January 2010 when the area recorded 559 sales, according to the Dayton Area Board of Realtors. In December, sales were 23 percent higher, with 718 transactions on the books.

Bob Wilson, DABR president, said sales typically are lowest in January and February.
“Increases are usually seen in the spring, when families begin looking again and traffic through available homes picks up,” Wilson said.

Not only were sales down year-over-year, but sales volume, and average and median sales prices, also experienced declines.

Sales volume dropped to $56.4 million — a 10 percent decrease compared to January 2010 — and average sale price was $102,000 — a 9 percent decrease. Similarly, median sale price fell 13 percent year-over-year to $79,000.

“Sale prices are historically lower during slower, bad weather months and with school in session,” Wilson said.
The supply of listings at the end of January was 15 months — or 8,428 properties. Inventory levels were up 8 percent from January 2010, when the area had a 14-month supply.

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