Dayton Area Home Sales for April 2020

What is usually the first big month of the spring and summer home buying season was significantly curtailed by the COVID-19 pandemic and the state’s stay-at-home orders. Single-family home and condominium sales in the Miami Valley dropped twenty-two percent April with 1,133 sales reported. This marks the lowest April home sales since 2014. Likewise, sales volume generated by April’s activity totaled $212 million, a seventeen percent decline from April 2019.

However, prices still continued their upward trend, with the average price improving six percent to $187,564 and the median price increasing eight percent to $163,000. These results are consistent with a recent National Association of Realtors survey which showed that 72 percent of Realtors reported no adjustments in home pricing as a result of the pandemic.

As a result of these April sales, the first four months of 2020 saw a decline, albeit minimal thus far. Through April, sales reached 4,431, only 42 units fewer than 2019’s year-to-date sales. Sales volume, however, continued its upward climb, coming in at $796.2 million so far in 2020, a nine percent change from 2019. The average sales price year-to-date stood at $179,691 and represented a ten percent jump over 2019’s year-to-date numbers. The median sales price also grew, from $139,000 in 2019 to $154,900 through April 2020, an eleven percent increase.

There were 1,372 new listings added in April, down almost thirty-three percent from last year, while year-to-date listings tallied 5,840, a 7.8 percent decrease from the 6,336 submitted through April last year.

The overall number of single-family homes and condominiums available in the MLS stood at 2,645 at month’s end, which represented a supply of 2.3 months based on April’s pace of sales.