Home sales remain strong in the Dayton area. TY GREENLEES / STAFF

Area home sales drop in March: What’s really going on

Home sales were down more than 8 percent in March compared to the same month last year.

About 1,182 homes were sold in the Dayton area in March, according to the Dayton Area Board of Realtors. That’s down 8.2 percent from March 2018. Last year was one of the best years on record for home sales in the area.

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The median home price is 5.7 percent higher than in March 2018 at $137,500. It is, however, a slight decline from the median $138,000 in February, according to the statement.

Year-to-date, the number of homes sold have dropped 1 percent, according to Dayton Realtors.

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The Dayton-area has struggled with a shortage of homes on the market for months, jacking up home prices through 2018 into this year. Experts have said they expect the current seller’s market, in which the home seller has more negotiating power than the buyer, to turn in some area counties later this year.

Inventory is still low in the market, with 4,291 listings so far this year, just under 7 percent fewer listings by this time last year.

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