Area real estate market drops, realtors believe it'll come back up in coming months
Sales in the Dayton real estate market dropped for a second straight month in February, but this may have a lot to do with a buyer's budget.
[DOWNLOAD: Free WHIO-TV News app for alerts as news breaks]
According to data released by Dayton Realtors, sales last month decreased more than eight percent from the year before, and closed sales dropped nearly 20 percent.
TRENDING STORIES:
Father charged with murder of 13-year-old daughter in Toledo shot by SWAT officer in Columbus
Ohio zoo takes action to protect animals from bird flu
Ohio fugitive arrested for 29th time after police chase
The good news is that the median sale price increase went up by over five percent to about $240,000.
That's all with mortgage rates still hovering near seven percent.
'I think that interest rates is a big, big contributing factor. But more than that, it also shows various communities have - like one community, nothing will stay on the market, and the next community it's sitting there for a minute, but then it will switch on us,' Barbara Waddell, Dayton Realtors President-elect, said.
Waddell said if you're in the market for a new home, your budget is the determining factor of what you'll see. Some houses priced on the higher end of the spectrum may remain on the market for weeks at a time, while others that are priced lower and in the range of the buyer are still hot commodities.
She added that buyers are ultimately more concerned with where they want to be and not the available mortgage rate.
'We did have a season where rates were just phenomenal, but what else happened in that season? People were paying $50,000 to $100,000 over less because rates are so great,' she said. 'So in our market, things seem to balance ourselves. Right now, you don't have to pay $50,000, $30,000, or $100,000 over less, but you are going to be sitting on a seven percent interest rate.'
Waddle said she thinks sales will pick up as they often do now that temperatures are getting warmer. Families typically want to make the move before the fall months and the beginning of the school year.
[SIGN UP: WHIO-TV Daily Headlines Newsletter]
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
4 hours ago
- Yahoo
Georgia gas prices still trending lower
The average cost of gas prices at the pump in Georgia is continuing its downward trend. According to AAA's gas price tracker, the price of a gallon of gas for regular unleaded is down another two cents compared to last week. Month-to-month, it's four cents lower and a full 43 cents lower than last year. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks] That means to fill up a 15-gallon gas tank, drivers are paying about $42.90 at the pump. AAA said that was almost $7 less than a year ago for the same refueling effort. TRENDING STORIES: 2 dead in Cobb County murder-suicide Peach Pass fee freeze program ends soon, closing temporary amnesty option for drivers 2 accused of stealing vehicle left on I-75 "Georgia pump prices keep on giving, which is great news for drivers heading into the summer driving season,' Montrae Waiters, AAA-The Auto Club Group spokeswoman, said. 'Remember, we're still at the front end of hurricane season, and a sudden storm could bump up oil prices, causing gas prices to increase.' As far as those oil market fluctuations, AAA said the cost of a barrel of oil had settled at $62.85 as crude inventories fell by 4.3 million barrels over the past week. AAA said the U.S. crude oil inventory is roughly 7% lower than the five-year average for this time of year. This comes as prices across the nation fall and summer driving season continues. While inventories of crude oil are down, AAA also reported that supply in the market is outweighing demand. National gas prices were averaging $3.12 per gallon, according to AAA. In Georgia, here is where gas was highest, and lowest, per gallon. Warner Robins - $2.75 Dalton - $2.78 Albany - $2.80 Atlanta - $2.88 Valdosta $2.89 Savannah - $2.98 [SIGN UP: WSB-TV Daily Headlines Newsletter]
Yahoo
5 hours ago
- Yahoo
Peach Pass fee freeze program ends soon, closing temporary amnesty option for drivers
A program giving Georgia drivers extra time to pay toll amounts is ending soon. The Georgia State Road and Toll Authority said in a recent announcement that their Fee Freeze program ends June 30. According to state officials, drivers who were on Georgia Express Lanes between Sept. 30, 2024 and May 30 who received a violation notice are able to pay just the toll charges, without a violation fee, but only if you make the payment before the end of June. The full toll amount listed on the notice must be paid on or before June 30. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks] TRENDING STORIES: 2 accused of stealing vehicle left on I-75 Starbucks permanently closes Ansley Mall location Atlanta-area rapper sentenced for bringing stolen loaded 'machine gun' into hospital labor unit Peach Pass will accept the payments by mail or by phone, by calling the Peach Pass Customer Service Center. Even if paying online or through the mobile app, drivers must still call the Peach Pass office first. 'Fee Freeze payments are not accepted online without prior authorization,' officials said. While the State Road and Toll Authority is reminding drivers to pay what's due, the office is also warning against Peach Pass scams. The Peach Pass program will never send a text message or request payment. Anyone who gets a text message requesting they pay anything is urged to not click any links and delete the messages. [SIGN UP: WSB-TV Daily Headlines Newsletter]
Yahoo
3 days ago
- Yahoo
Apple to pay $95 million in Siri eavesdropping settlement; Here's how to file your claim
Those who own Siri-enabled devices, including iPhones, MacBooks, and iPads, may be eligible to file a claim in Apple's $95 million settlement over allegations that Siri has been eavesdropping on consumers. [DOWNLOAD: Free WHIO-TV News app for alerts as news breaks] As reported by CBS News, California resident Fumiko Lopez filed a lawsuit in 2021 claiming that several types of Apple devices have been eavesdropping on Apple consumers. The lawsuit claims that the private and confidential discussions Siri had allegedly listened to were being shared with third-party businesses that then targeted consumers with ads in Apple search and Safari, according to CBS News. 'Apple denies all of the allegations made in the lawsuit and denies that Apple did anything improper or unlawful,' the settlement website states. Apple agreed to the settlement earlier this year, and now consumers can file claims to get a piece of the $95 million agreement. TRENDING STORIES: Deputies: Wood thrown at officers in high-speed chase; ends in wrong-way crash on I-75 Injuries reported after car slams into Miami County home Child, adult dead after being pulled from SUV that went into pond Consumers who owned Siri-enabled iPhones and other Apple devices between Sept. 17, 2014, and Dec. 31, 2024, and 'experienced an unintended Siri activation during a confidential or private communication,' are eligible to file a claim, according to the settlement website. Consumers who owned iPhones, iPads, an iPod Touch, an iMac, a MacBook, an Apple Watch, an AppleTV, and/or a HomePod could all be eligible for payment. The amount consumers could earn ultimately depends on how many people file claims, but CBS News reported there's a cap of $20 per Siri-enabled device that a person owns. Apple consumers can file a claim for as many as five Siri-enabled devices, for a maximum payout of $100, according to the settlement site. To submit a claim, visit the settlement website here. The settlement's final approval hearing is scheduled for August 1, 2025, at 9 a.m., but there could be an appeal that would delay the payout, as reported by CBS News. The settlement payment will not come until later this year at the earliest. There is no confirmed date. Settlement payments, if you receive them, will be sent via physical check, e-check, or direct deposit. [SIGN UP: WHIO-TV Daily Headlines Newsletter]
