Dayton Ohio Real Estate Market Update – October 13, 2024

As of mid-October 2024, the Dayton real estate market continues to show resilience, with some interesting trends emerging as we head into the final quarter of the year. Whether you're buying, selling, or just keeping an eye on the market, here's an update on the latest stats for the Dayton area.

Current Market Overview

Average Days on Market: 59 Days

Homes in the Dayton area are staying on the market for an average of 59 days. This shows a slight increase compared to the hotter months earlier in the year, as fall traditionally slows down buyer activity. However, this still indicates a fairly active market considering the season.

 

Sold Listings: 8,320

The number of homes sold this year reflects strong demand. With over 8,000 properties closed, buyers are still finding great opportunities, and sellers are successfully moving their homes despite the market's seasonal shifts.

 

Average List Price: $340,361

The average list price in Dayton has remained steady at $340,361. This indicates sellers' confidence in pricing their homes competitively in a market that remains favorable for transactions, particularly in well-maintained and move-in-ready homes.

 

New Listings: 2,136

Fresh inventory is always a good sign in a healthy market. With over 2,100 new listings, buyers still have options, though supply remains somewhat limited. New homes coming onto the market will continue to meet the ongoing buyer demand, especially as inventory tightens.

 

Average Sales Price: $286,804

The average sales price in Dayton now stands at $286,804. While there is a gap between list and sales price, this trend is expected, as sellers typically aim high, while buyers negotiate for the best deal. The current sales price still reflects a strong seller's market with moderate price adjustments.

 

Under Contract: 1,039

Currently, there are 1,039 homes under contract. This indicates that activity remains steady, with many homes moving quickly from listing to contract. While the market may not be moving at the same pace as during the spring or summer, buyers are still actively seeking homes in Dayton and closing deals.

 

What Does This Mean for Buyers and Sellers?

For sellers, the market remains favorable, though it's crucial to price your home appropriately to attract serious buyers. With average days on the market creeping up to 59, having your home in great condition and marketed effectively will help you stand out in a slightly slower market.

 

For buyers, this slight slowdown could be an opportunity. With homes taking longer to sell, there's potential for negotiations and possibly securing homes below the initial asking price. However, with over 1,000 homes under contract, competition is still present, so it's important to be prepared to act quickly when the right home comes on the market.

 

Whether you're looking to buy or sell, staying informed about market trends will help you make the best decisions. Feel free to reach out to us if you want a personalized market analysis or if you're ready to start your next real estate journey in Dayton.

 

If you have any questions about the Dayton market or need expert guidance, contact Don and Cyndi Shurts at 937-241-2124 or 937-604-5194. We’re here to help with all your real estate needs!