Despite challenges brought on by the pandemic, the Dayton metro area housing market isn’t showing signs of slowing down

An economic slowdown is being felt across the country, but the Dayton area housing market continues to steadily grow when it comes to the number of homes sold and average sale price.

According to a recent newsletter on the Dayton Realtors website, the number of homes sold in 2020 jumped almost 4% from the year before, and this past December saw a 12.6% increase over the same month in 2019.

The steady climb in home sales that the market is currently experiencing can be attributed to at least a couple of factors according to Sharon Geier, president of the Dayton Realtors and a 35-year veteran of the trade.

“It’s a strong market, but the two major factors are low interest rates and then the inventory, that is kind of low,” says Geier.

One housing stat that saw a decline in 2020 was the number of homes listed and, according to Geier, this is because there are simply not enough available homes listed to keep up with demand.

“We have seen some little bit of some help from builders putting some more product out there, but it doesn’t look like it’s going to change a whole lot anytime soon,” says Geier.

To keep up with high demand, local Realtors have adjusted their work practices to maintain a safe workspace with distancing, sanitizer and masks when showing homes with potential home buyers, while some real estate agents have taken a digital approach.

“Some Realtors I know actually went into a property and used their phone on Facetime and were able to tour and share that with their client,” Geier says.

As the pandemic continues so do these local housing market trends and Geier doesn’t see signs of it changing anytime soon.

“Overall, we have a pretty optimistic outlook right now. Most of us are expecting the trend will continue with the low inventory, low interest rates and high interest in getting a house.”