Dayton Area Home Sales for February 2014

Sales activity of single-family homes and condominiums, as reported by the Dayton Area Board of Realtors, fell 6.5 percent in February from the level posted during the month a year ago. 754 transactions were reported to the Multiple Listing Service in February, compared to 807 a year earlier.

The bitter cold and near-continuous snowfall during February kept many consumers indoors and away from home shopping. These factors influenced not only the number of sales, but also the dollar volume. A cumulative sales volume of $85.5 million couldn’t hurdle the $89.9 million volume from last February in a year-over-year comparison.

The bright spots in an otherwise cloudy February were the median and average home prices. The median price landed at $90,302, a 2.6 percent increase, while the average price rose to $113,497, a 1.8 percent increase.

The percentage of list/sale price also posted a slight increase, from 94.9 percent last February to 95.4% this year. Entries of single-family homes and condominiums during February dropped 2 percent compared to last year.

The overall total of active listings for sale in the MLS inventory at month’s end stood at 5,942, down 363 units compared to the inventory at same point in time in 2013. The supply of listings, based on February’s pace of sales, was 7.8 months, unchanged from the same period a year ago.