Dayton, Ohio

In Dayton, Ohio, the sale of houses had a slight decline in the first quarter of 2018. This was a result mostly because of the tight inventory of homes that are available. And this tight inventory has been increasing. The average household income in Dayton is $51,427.

Home sales in Dayton dropped 2% in May 2018. The number of single-family homes and condos sold in this market for May was 1,595. 1,626 was the number of single-family homes and condos sold in Dayton May of 2017.

But, $272.6 million was the sales total for this past May – a jump of 6% from the same time, 2017. In May, the median home cost increased to $145,000 - a hike of 8%. As far as Dayton region single-family homes go, last month the average cost was $171,061 – a rise of 8 percent compared to last year.

There has been a 6 percent increase in numbers of transactions of sales thus far this year compared to 2017. When you have a healthy market for housing in a location, it is a gauge of a strong economy in that location.

2.4 months was the supply of inventory at the end of May. This was based on 3,968 properties being available at the end of May – a very low inventory.

Let’s look at commercial real estate in Dayton. In downtown Dayton, Ohio, because of a tax credit that is historic, a robotics and technology company will get office space that is new. The amount of the tax credit is $1.8 million.

It’s going to be an $18.2 million project in a 6 story building of 80,000 square foot new office space. 15 McDonough St. is its address.

The building will be restored and rehabilitated. It is an industrial building made of concrete, and it is close to Third Street, at the Oregon District edge. There will be an extensive rehabilitation of the whole building. The first floor will get new floor paneling. There will be new HVAC systems, new electrical systems, window replacements, and throughout the building there will be repainting. Also, the building’s exterior will go through a full restoration.