The state of the Dayton, Ohio residential home market in April 2010

According to a Dayton Area Board of REALTORS (DABR) Multiple Listing Service (MLS) report, April 2010 was an encouraging month for Dayton, Ohio area home sellers and buyers.  Two thousand five hundred fifty-three (2,553) single family homes were listed for sale versus one thousand nine hundred sixty-nine (1,969) in April 2009.  One thousand thirty-five (1,035) residential homes were sold versus eight hundred twenty-three (823) in April 2009.  The mean or average selling price was $122,256 versus $117,343 in April 2009.  The median or middle selling price (50% of homes sold for more and 50% of homes sold for less) was $110,000 versus $95,000 in April 2009.   

The upcoming May 2010 DABR MLS report will be of interest to Dayton area home sellers and buyers who are wondering if prices have bottomed and if April's upward price and sales trends will continue.  An unreported number of buyers made offers to home sellers in order to have a contract to purchase real estate accepted by the April 30th deadline and qualify for a federal tax credit of up to $8,500.  It remains to be seen whether the tax credit programs will be extended.

Company downsizing, layoffs, and closings led to an increased supply of short sale and foreclosure homes in the Dayton area which depressed selling prices and created the current "buyer's market" for cash buyers and borrowers.  Buyers with good credit histories may be able to benefit from current mortgage loans with interest rates below a 5% fixed annual percentage rate.  

Most REALTORS will be happy to show homes listed in the MLS (including foreclosures and short sales) to interested buyers and there is no charge to look at listed homes.          
  • June 02 2010 - Dayton
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Answers (2)

well, there was an $8000 credit for new buyers to sign a contract before the end of April. This likely had a very big effect on those Dayton numbers.

By say August, we should be seeing how the market is doing sans credit, my bet is pretty bad, but hey we will all know in 2 months.
  • June 02 2010
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Thanks for your correction azrob.  The National Association of Realtors website states:  "Although the Extended Home Buyer Tax Credit expired on April 30, 2010, home buyers who signed a written, binding contract by that date and close before July 1, 2010 may still be able to claim the credit."  I should have said the amount was up to $8,000 as you stated.  Let's hope the Ohio, Arizona, and other real estate markets will improve after the tax credits have ended. 
  • June 02 2010
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