DAYTON — The Dayton real estate market continues to improve when it comes to the number of sales and average price. A recent study also has Ohio in the top 20 states when it comes to family-friendly homes.
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The Dayton real estate market saw a two percent increase in sales and a three percent rise in average home prices to start the new year. According to Dayton Realtors, the average sales price in the area reached approximately $237,000.
What continues to be a challenge is the limited inventory, specifically in the lower price range.
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“That is exactly it. If you had a home that was under $200,000, it wouldn’t be on the market (for a) very long period,” Barbara Waddell, president of Dayton Realtors, said. “And that buyer is having a very difficult time.”
The market and the state of Ohio also remain a hot place to buy. Clinch Home Services ranks Ohio 16th in the country for family-friendly homes. The ranking is based on factors like affordability and road safety.
Those who come into the area find a market that remains consistent with growth and value, but, like many areas, those who purchased with low mortgage rates are reluctant to move.
“When you have clients that have a three percent interest rate compared to where we are right now in the market, and fortunately it’s starting to come down, but no, they’re not really in a hurry to leave,” Waddell said. “And then you also have to remember that at that time, the inventory was still very limited, so they paid a premium price for their home. So no, they’re not really looking to get out of it.”
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