While full-year activity showed strength in average price, median price and sales volume, it fell short in sales and new listings.
Statewide, Ohio homes sales reached 163,155 in 2022, a 9.6% drop from 2021. Nationally, it was rougher, with the National Association of Realtors reporting existing home sales falling nearly 18% from 2021.
Locally, the average home sale price of $231,423 for December 2022 was up nearly 6% from last year, with a median price of $192,000, up nearly 4%.
However, Dayton-area sales volume plummeted 25% for the month, generating a volume of $254.5 million, Dayton Realtors said in its recent year-end report.
Supply at the end of the year showed improvement over 2021 levels. Overall available inventory at year’s end was 1,429, which equaled a supply of 1.3 months based on December’s sale pace, Dayton Realtors said.
For the whole year, though, listings fell short of last year’s figure by 5.6% to 18,523. In 2021, the market saw 19,626 listings.
Total sales for 2022 reached 16,128 compared to 17,618 in 2021, down 8%. Total cumulative sales volume for the year came in at $3.866 billion, barely beating 2021′s volume by $3 million.
“The economic climate that persisted throughout 2022, with rising interest rates, recessionary concerns and uncertain consumer confidence, certainly dampened home sales activity in all corners of Ohio,” Ohio Realtors President Ralph Mantica said. “Throughout the year we experienced a housing marketplace returning to a more balanced position, with inventory levels of homes being marketed for sale rising and prices stabilizing.”
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