What happened in the Dayton Housing Market this past week?
The Dayton housing market continued its steady pace of new listings, contract signings, and closed transactions. All indicators point to a strong market going into the spring season. While the Ohio stay-at-home order remains in effect until May 1, buyers are still purchasing properties by means of a combination of virtual tours and in-person walk-throughs. In many cases homes are selling fast, and with multiple offers due to heavy competition for the limited number of available properties.
Week of April 18-24, 2020 vs. previous week
New Listings:
231 (-1.28%)
Under Contract: 434 (+17.3%)
Closed:
234 (-9.3%)
Ohio Schools Will Remain Closed: Home Searches Begin...
This week Gov. DeWine announced that schools will remain closed for the remainder of the school year. What does this mean for the housing market? Generally speaking, many families begin their spring/summer home search when school lets out in June, with the goal of moving before the start of the new school year. Since children won't be going back this year, many families will be starting their moving plans earlier than usual.
The March Numbers are in: Home Sales Rise over 11% in March vs. 2019
This may come as a shock to many, but despite the disruption to our daily lives caused by COVID-19, March home sales in Dayton saw an almost 12% gain over the same time last year! Average and Median home prices also rose by about 13% and 17% respectively over March 2019's figures.
"Despite Ohio’s stay-at-home order beginning in March, home sales throughout the month still remained stronger than last year’s figures. Sales of single-family and condominiums reported in March by Dayton REALTORS® totaled 1,321, the highest monthly sales so far this year. These sales figures also bested last March’s numbers by well over eleven percent." - Bob Jones
So many good things are happening all around us. It's important for everyone to stay safe and stay educated as we make it through these challenging times. I will continue to bring you the latest information each week.
Stay safe, be well.
-Stephen