MORE: Dayton-area home sales up in April, inventory tight
One reason for the dip is the limited supply of homes available to buy, according to Dayton Realtors, which represents Montgomery, Greene, Darke, Warren, and Preble Counties.
The association said there is just a 2.4 months supply of homes available, which is a record low for the month of May.
While you might have limited homes to chose from, you’ll also likely have to pay more than you would have last year.
May’s median sales price came in at $145,000, up 8 percent from last year. The average price of $171,061 was also up 8 percent from the same time last year.
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Sales volume generated by May’s activity totaled $272.8 million, which is up 6.5 percent since last May.
There were 2,149 new listings added in May, down 1 percent from last year’s 2,173, while year-to-date listings tallied 8,710, a 2.8 percent decrease from the 8,960 submitted through May of last year.
Total inventory was low, showing 3,968 properties available at month’s end, representing a supply of only 2.4 months based on May’s pace of sales.
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