Home sales didn’t break records in July, stymied by tight inventories of available homes. But the Dayton Area Board of Realtors reported that prices were strong.
Although down from June’s all-time high, both the average sales price and median sales price improved over last year, the board said.
July’s average sales price totaled $157,132, just edging past last year’s figure by 0.10 percent. The median price also fared well at $136,900, up 3.71 percent from last year, the board said.
The 1,457 sales for July were down 2.5 percent as inventory remains tight, the board said. Those sales produced a cumulative sales volume of over $228.9 million, a drop of 2 percent over last year.
July’s showing also continued to improve the year-to-date numbers. The January-July average sales price increased five percent to $154,853, while the median price ticked up almost five percent to $133,000. The cumulative sales price also jumped 7.7 percent to $1.4 billion.
Listings submitted in the month of July still reflected a fairly tight inventory in the housing market, with 1,934 entries, a one percent rise from July 2016’s 1,901, the board said. For the January-July period, 13,083 listings were entered, down from last year’s 13,457 listings.
The overall active MLS single-family and condominium inventory at the end of July stood at 4,800 and represented a three months’ supply of listings based on July’s resale rate.