By William Duffield Staff writer
February 25, 2014
XENIA — The number of single-family listings of homes in the Miami Valley was down in January from the same time frame last year, but the number of sales, and total sale price are up.
And Jason Caudill, district sales manager for HER Realtors in Xenia, the sales figures are rising here, too.
“Everything is going up,” he said. “It’s shocking what we’re seeing. We’re seeing figures that we haven’t seen in years.
“I’ve got three or four agents that have listed and sold a property in less than a month. That was just unheard of a couple of years ago, now we have had that happen several times.”
Caudill said he expects the trend to continue.
“We are actually in a shortage right now,” he said. “We have more people wanting to buy houses than we have listings. I don’t know how long it has been since that has happened.”
According to the Dayton Board of Realtors, 739 homes were sold in the Miami Valley in January, up from 717 in January of 2013. The sale price for those homes was $80,705,759, up 3.06 percent over a year ago.
The DABR said the sales figures are continuing on an upward climb. Their report adds that the overall total of active listings for sale in the Multiple Listing Service’s inventory at the end of January stood at 6,159, which is just 16 more units compared to the end of January 2013.
According to DABR numbers, the median sale price was down 4.34 percent over 2013. The January 2014 median was $86,000 compared to $89,900 in 2013. The average sales price, meanwhile, was just .01 percent below last year, $109,209 to $109,221.
The median price is the number where there are equal number of units above and below this price. The average price is a mathematical equation where the the total price paid is divided by the number of units sold.
Ohio’s home sales fell by 5.1 percent in January in comparison to the same time frame a year ago, as well as December 2013’s numbers. That snaps a streak of 30 consecutive months of gains year-over-year, according to the Ohio Association of Realtors.
“The Ohio housing market, for the first time in two-and-a-half years, experienced a reduction in activity levels,” Chris Hall, president of the Ohio Association of Realtors, said. “The extreme weather conditions throughout the state during the month (of January) contributed to the downturn. (But) our January sales results are also reflective of a more balanced, stable marketplace — one that will experience traditional ebbs and flows in activity levels throughout the year.”
Statewide, the average home price in January was $127,327, which reflects a 5.6 percent increase from January 2013.
William Duffield can be reached at 937-372-4444 ext. 133 or on Twitter @WilliamDuffield.