‘Historically low’ number of home listings driving ‘seller’s market’ in Miami Valley, experts say

It’s looking like a seller’s market right now when it comes to the housing market. In the Miami Valley – and in many parts of the country – this is being driven by incredibly low inventory.

“Very low. I would call it historically low,” said Brian Sharp of IronGate Realtors, speaking of the home listings in the region right now. Sharp said there were 728 active listings in the area earlier this month – compared to thousands – even several thousand – at other times.

>> Existing US home sales fell in February, while prices rose

The Dayton Area Board of Realtors said home listings were down 26 percent locally compared to last year in February data released this morning.

Across the country, the National Association of Realtors noted similar trends in a recent report – with a 25 percent drop in listings in late January, nationwide, compared to that point in 2020.

Sharp believes the COVID-19 pandemic is driving the slow market.

“I’ve found sellers to be concerned about having people in their home, or opening their home for an open house,” he said.

However, he believes the “seller’s market” currently is not necessarily going to last – especially with many COVID-19-related changes appearing to take shape.

“Now as the weather’s changing, as those vaccines do roll out, I think people are becoming more comfortable saying, ok, let’s list our home,” Sharp said.

The Dayton Area Board of Realtors announced that February home sales median price was up seven percent from last year to $159,900.

Cox Media Group