Dayton Area Home Sales for June 2022

Dayton Area Home Sales for June 2022

2022-JUNE-Infographic

Image Credit: Dayton REALTORS©

Dayton REALTORS®
Release Date: 07/20/2022
Original Article: Link

Home sales in the Dayton area stumbled in the month of June, while both the median and average prices continued their upward trajectory.

Sales of single-family and condominium units reported by Dayton REALTORS® in June totaled 1,596, a decrease of almost eight percent from June 2021 sales. Meanwhile, the average price jumped to $256,349 and the median price hit a new high at $220,745, increases of 8.5 percent and 7.6 percent, respectively. The cumulative sales volume reached $409.1 million, relatively flat from the figures in 2021.

June’s showing capped off the first half of 2022 which saw 7,801 sales transactions of single-family homes and condominiums, compared to 7,964 during the first half of 2021, down two percent from last year.

A cumulative sales volume of $1.8 billion dollars – up nine percent – brought the average sale price up eleven percent to $240,702 and the median sale price up ten percent to $201,900 for the six-month period.

Listings submitted in the month of June showed 2,100 entries, a decrease of almost five percent as compared to June 2021. For the January-June period, 9,897 listings were entered, a 2.7 percent increase from the same period last year.

The overall active MLS single-family and condominium inventory at the end of June stood at 1,553, representing just under a one-month supply of listings based on June’s resale rate.

What is Dayton REALTORS®?

Dayton REALTORS®, an association of real estate professionals, is one of the nearly 1,800 real estate boards in the country which make up the National Association of REALTORS® (NAR), the largest trade association in the world. Established in 1909, Dayton REALTORS® has over 2,800 members dedicated to serving the needs of both home sellers and buyers in the Miami Valley. Like any other trade association, the board’s basic purpose is to serve the needs of its members. But unlike other organizations, the board must also expand its scope to include services to the thousands of homeowners in the area and to the many communities in which they live. Dayton REALTORS® serves its members as a resource for continuing education, a wide range of committee activities, the Multiple Listing Service, social events, products and publications.

House Bill 201

On Friday, December 19th 2014 Ohio Governor John Kasich signed House Bill 201, the Mortgage Satisfaction Bill.  Introduced last year, the bill pertains to unreleased, but satisfied mortgages.  Plaguing the title industry for years, the issue has been a frequent topic of many Ohio Land Title Association (OLTA) Board meetings over the past decade.

House Bill 201 will help encourage lenders to record satisfied mortgages through the increased penalties for not doing so.  Once a $250 penalty, lenders will now face a $100 per day penalty, up to $5,000 plus attorney’s fees for failing to record satisfied mortgages in a timely manner.

The final version of the bill passed the Ohio Senate after extensive lobbying effort and is proof of years of hard work paid off.   Through a coalition between the OLTA, Ohio State Bar Association and the Ohio Association of Realtors, this pro consumer legislation was pushed through the General Assembly.

Evans Title Agency, Inc.

Evans Title Agency, Inc.

Our mission at Evans Title Agency, Inc. is simple: we strive to achieve complete customer satisfaction while providing quality service at the best possible value.  Since 1991, we’ve offered residential and commercial title insurance products and services in the Dayton, Ohio and the surrounding communities.  As a licensed title company in the state of Ohio, we’re able to conduct real estate transactions in all 88 Ohio Counties.  We have 3 licensed title insurance agents who represent Old Republic National Title Insurance Company and WFG National Title Insurance Company.

After 23 years in business we still retain several clients in the Dayton, Ohio area who’ve been with us since the inception of our company.  Our client base includes credit unions, law firms, local and national Banks,  mortgage companies, private mortgage investors, and Realtors.  Our entire staff is dedicated to making Evans Title Agency, Inc. the premier agency in Dayton, Ohio and the surrounding communities.  With our office centrally located fifteen minutes from downtown Dayton, Ohio in historic Tipp City, we’re conveniently able to assist clients throughout the entire southwest region of the state.  As proud recipients of the 2007 Eclipse Integrity Award, A+ Dayton Better Business Bureau rating holders and members of industry associations and regional organizations; we encourage you to ask around and see what others are saying about us.  We’re dedicated to customer satisfaction and would be honored to include you to our long list of loyal customers.

Tim Evans, 2013 Citizen of the Year

Tim Evans, 2013 Citizen of the Year

Evans Title Agency, Inc. Owner, Tim Evans, was recognized as the 2013 Tipp City, Ohio Citizen of the Year at the 2014 Mum Parade on September 27th.  Tim participated by passing out waves and smiles to the early morning crowd.  He’s humbled to have been chosen as the Citizen of the Year and appreciative for all the local Chamber of Commerce has done over the years to help local businesses.

Tim Evans was recognized as the 2013 Tipp City Citizen of the Year by the local Chamber of Commerce.  To honor his achievement, he took part in the 2014 Mum Parade.

Tim Evans was recognized as the 2013 Tipp City Citizen of the Year by the local Chamber of Commerce. To honor his achievement, he took part in the 2014 Mum Parade.

CFPB Integrated Mortgage Disclosures

According to the American Land Title Association (ALTA), the Consumer Financial Protection Bureau (CFPB) has released its final rule for new integrated mortgage disclosures. The rule integrates forms required under the Truth-in-Lending Act (TILA) and Real Estate Settlement and Procedures Act (RESPA).

As many know, the closing process will soon see significantly changes.  In an effort to better prepare our customers, we’ve provided links to resources which have come from the final rule.  Please contact us if you have questions, or check back for update.

National Title Professional (NTP)

National Title Professional (NTP)

 

National Title Professional

Tim Evans, owner of Evans Title Agency, Inc. was recently recognized as having the specific credentials to earn the designation of National Title Professional (NTP).

The National Title Professional (NTP) designation is designed to recognize land title professionals who demonstrate the knowledge, experience, and dedication essential to the safe and efficient transfer of real property. Requirements for certification includes a minimum of five years of industry experience, active involvement in both state and national title associations and completion of online courses.

Tim and nineteen other title professionals from 16 states throughout the country were recognized last month at the annual American Land Title Association (ALTA) convention as the inaugural class to achieved the NTP designation.

Of the twenty title insurance agents to receive this designation, two of the agents are from the State of Ohio; Jim Stipanovich, Vice President of Old Republic National Title Insurance Company; East Central Division Manager and Tim Evans, Owner of Evans Title Agency, Inc. Currently, Tim is the only NTP agent in Ohio from an independent title agency.

For more information, please visit the ALTA website. Click here for a direct link.

ALTA Best Practices, A Soon-To-Be Reality

ALTA Best Practices, A Soon-To-Be Reality


As a benchmark for the mortgage lending and real estate settlement industry, the American Land Title Association (also know as, ALTA) published the Best Practices policy on Wednesday, January 2, 2013.  Their goal is to “guide its membership on best practices to protect consumers, promote quality service, provide for ongoing employee training and to meet legal and market requirements”.  The policy contains seven areas of focus, ranging from proper licensing and insurance requirements to how customer complaints are handled.

Evans Title Agency, Inc. views the Best Practices policy as the forthcoming wave of the industry.  The policy will hold licensed title agents and settlement companies to a higher standard and will almost certainly be required to stay competitive in nearly all markets.  These practices are voluntary; however the degree of professionalism they’ll illustrate to consumers and clients will almost certainly become the new standard for the real estate settlement industry.

Taking the policy very serious, Evans Title Agency, Inc. is currently working towards a complete publication of how they go above and beyond meeting the seven areas outlined by the ALTA Best Practices policy.  We encourage you to visit www.alta.org and familiarize yourself with the new policy.  Please feel free to contact us with any questions you might have.

Click here to view ALTA Best Practices Policy

Tim Evans Receives Prestigious Award…

Tim Evans Receives Prestigious Award…

Tim Evans, owner of Evans Title Agency, Inc., was the recipient of the 2012 Ohio Land Title Association (OLTA) Meritorious Service Award.

Evans Title Agency, Inc. owner, Tim Evans was the recipient of the 2012 Ohio Land Title Association (OLTA) Meritorious Service Award. This award recognizes persons who have provided outstanding contributions over many years to the title insurance industry. It is intended as a high honor of the association to those who are not yet eligible for the Honorary Life Membership Award, but who have otherwise provided significant contributions to the industry and the association.