Home sales see continued growth despite rough weather in February

A $3.4 million luxury estate built by former Aristocrat Products owner John (Johnny) Vance II. PHOTOS COURTESY OF DAYTON REALTORS. For other home listings, visit DaytonDailyNews.com/homes.

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A $3.4 million luxury estate built by former Aristocrat Products owner John (Johnny) Vance II. PHOTOS COURTESY OF DAYTON REALTORS. For other home listings, visit DaytonDailyNews.com/homes.

Statewide, sales actually dropped a bit

Sales and median prices for single-family homes and condos in the Dayton area increased in February despite continued inventory challenges, the Dayton Realtors trade organization said Monday.

With the number of local sales rising only slightly locally and actually falling a bit statewide, poor winter weather last month may be at least partly to blame, said Nationwide Senior Economist Ben Ayers.

“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.

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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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