Area home sales climb in April: Here’s why

This house on Oak Street in the South Park neighborhood has found a buyer. The neighborhood has a variety of homes for sale that fall along the price scale. CORNELIUS FROLIK / Staff
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This house on Oak Street in the South Park neighborhood has found a buyer. The neighborhood has a variety of homes for sale that fall along the price scale. CORNELIUS FROLIK / Staff

The housing market in the Dayton area is continuing to heat up.

There were 1,415 sales recorded in April, up 7 percent from the same time last year, according to Dayton Realtors, a trade association covering Montgomery, Greene, Darke, Warren, and Preble counties.

The sales volume for those homes was $228.3 million, up 10 percent from the same time last year.

RELATED: Stagnant population, lower wages a drag on area home building

The average sales price increased 2.6 percent from last year to $161,363, while the median sales price increased 7.6 percent to $139,985.

The first four months of 2018 saw continued increases over the previous year in prices and in sales. Through April, sales reached 4,473, a 2.5 percent increase from 2017 when 4,364 transactions occurred over the same period.

The average sales price year-to-date is $154,096, up 4 percent percent jump over 2017’s year-to-date numbers. The median sales price is up 3.4 percent from $127,600 in 2017 to $132,000 through April 2018.

There were 1,980 new listings added in April, just ten units up from last year’s 1,970, while there were year-to-date listings 6,551, up 3 percent decrease from the 6,769 submitted through April last year.

MORE: New owner of downtown Dayton building promises to bring apartments ‘back to life’

The overall home inventory on the multiple-listing service showed 3,723 available as of the end of April, which represented a supply of 2.6 months based on April’s pace of sales.

The Dayton Daily News recently reported on the tight inventory of new homes and the slowed pace of new home construction. Builders and Realtors said one major reason for the slow pace of home construction is the Dayton area isn't experiencing the growth in jobs, wages and population that other parts of the nation are seeing.

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