“This should be a temporary cool down for the housing market as demand is expected to remain strong during the prime spring selling season,” Ayers said.
Locally, sales reached 1,020 in February, a 1.8% increase over the 1,002 single-family and condo sales reported in February 2020, Dayton Realtors said.
February’s local average sales price totaled $194,047, beating last year’s February figure by almost 11% The median price also grew, by 7% from last year to $159,900.
The month saw a cumulative sales volume of $197.9 million, a jump of more than 12% from last year.
Year-to-date numbers: The January-February average sales price was up 12% to $193,507, while the median price rose 10% to $160,000. The cumulative sales price rose 18% to $396.6 million while the number of sales grew 5.7% to 2,050.
Tight inventory continues to be an issue in the Dayton area (and beyond), and listings submitted in February reflected this, falling 26% to 1,056 entries, the trade group said. For January and February together, 2,190 listings were entered, down 21% from last year’s 2,794 listings.
Locally, the overall active MLS single-family and condo inventory of available listings at the end of February stood at 763 and represented less than a month’s supply of listings based on February’s resale rate.
Statewide numbers actually dropped a bit. Sales declined 0.6% from the level reached in February a year ago, according to Ohio Realtors.
Statewide home sales in February 2021 reached 9,366, a 0.6% drop from the 9,418 sales recorded during the month a year ago. The average sales price across Ohio in February reached $209,945, a 12% increase from the $187,375 mark posted in February 2020.
“The Ohio housing marketplace continued to exhibit resiliency in February, as sales activity nearly matched the levels of a year ago combined with a notable uptick in pricing,” Ohio Realtors President Seth Task said in a release Monday.
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