June home sales heat up with warmer weather

A $3.4 million luxury estate built by former Aristocrat Products owner John (Johnny) Vance II has been listed for sale by Herman and Austin Castro of Coldwell Banker Heritage. Vance, also a well-known race car team owner, died in June 2017. The home, located at 2641 Little York Road in Butler Twp., has 4,400-square-feet of living space, four bedrooms, 4.5 baths and is located on 18 acres. PHOTOS COURTESY OF DAYTON REALTORS. For other home listings, visit DaytonDailyNews.com/homes.
A $3.4 million luxury estate built by former Aristocrat Products owner John (Johnny) Vance II has been listed for sale by Herman and Austin Castro of Coldwell Banker Heritage. Vance, also a well-known race car team owner, died in June 2017. The home, located at 2641 Little York Road in Butler Twp., has 4,400-square-feet of living space, four bedrooms, 4.5 baths and is located on 18 acres. PHOTOS COURTESY OF DAYTON REALTORS. For other home listings, visit DaytonDailyNews.com/homes.

Home sales in the Dayton and central Ohio areas pushed up in June, with both the local median and average prices hitting new records for a third straight month.

More than 1,730 single-family homes and condominiums were sold last month, up 6% from June 2020 sales, according to the Dayton Realtors trade organization. And the average price jumped to $236,140, a record, while the median price hit a new high at $205,000, both up nearly 15%.

The cumulative sales volume reached $408.7 million, up 22% from last June.

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In Central Ohio, new listings in June resulted in the highest number of homes sold on record during any single month, according to Columbus Realtors. There were 3,644 homes closed in June, which was 15.6% higher than last year and 21.3% higher than May.

In the Dayton area, the first half of 2021 saw 7,964 sales transactions of single-family homes and condos, compared to 7,378 in the first half of 2020, up 8% compared to last year.

Dayton Realtors image
Dayton Realtors image

And Dayton-area sale prices are rising locally. A cumulative sales volume of $1.7 billion for the six-month period, up 24%, brought the average price up 15% to $187,003 and the median sale price up 14% to $160,800.

The local supply is getting somewhat better, with 2,207 entries, a 17% boost compared to last June.

“This is the first time since July of last year that more than 2,000 listings were entered in the Multiple Listing Service,” Dayton Realtors said. “For the January-June period, 9,637 listings were entered, a 1.75% increase from the same period last year.”

Surveying the national home sales scene, Nationwide economist Ben Ayers said limited supply will be a factor.

“We still expect existing sales to remain elevated in the second half of 2021 and into 2022 in response to strong demand metrics as the economy recovery accelerates.” Ayers said. “Still, purchases will be limited by the very tight supply conditions unless more listings enter the market soon.”

The overall active MLS single-family and condominium inventory at the end of June stood at 999, representing just a half-month supply of listings based on June’s resale rate.