Local home sales, prices spike

Sales of single-family homes and condominiums continued to climb at a robust pace in October, spiking 9 percent from the same month a year ago, the Dayton Area Board of Realtors (DABR) reported Tuesday.

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At the same time, the average sales price jumped 13 percent to $150,013, while the median price — the point at which half the homes sold for less and half for more — rose nearly 7 percent to $124,900, according to the DABR.

Through the first 10 months of the year, sales were up 9.7 percent compared to the same period a year ago, and the year-to-date average sale price and median sale price continued to rise as well. The average price year-to-date was $147,190 while the median price came in at $126,000, gains of 4.5 percent and 5 percent, respectively, the DABR reported.

Tight inventories continued to drive the price increases. Total listings last month were down 15 percent from October last year, while listings through the ten-month period were down 6.5 percent from 2015.

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