Dayton, Ohio’s real estate market is getting a boost, thanks to multi-million dollar transactions including the sale of two new health care facilities and an office portfolio in July, according to a report on The Dayton Business Journal.
According to the report, office portfolio sales worth $81 million to Hines Interests LP in West Chester have contributed to the uptick in local real estate market sales, which reached $113 million last month.
The second largest transaction accounting for the local real estate growth was the sale of $12.6 million worth of new facilities to health care company CommuniCare.
The report noted that while the sale is helpful in reaching a new high water mark for the local industry, the market would still see modest growth without it.
“Without that sales volume still saw a healthy increase from the past three months, with $32 million in individual sales among the top 10 deals,” the report said.
Other real estate deals that were highlighted in the report include the sale of a building which serves as a headquarter for Victoria’s Secret Direct call center in Kettering for $4.8 billion; the sale of Dayton parking lots for $2.6 million, a dialysis center for $2 million, and the sale of The Best Western Hotel in Monroe for $2.26 million.
In related news, the Dayton housing market showed mixed results from last figures, according to June data from the Dayton Area Board of Realtors (DABR).
A total sales volume reaching $790.8 million pushed the average sales price to $128,758 and median sales price to $110,000 during the first half of the year, translating to an increase of 3.4 percent and 4.2 percent from last year.
The sale-to-list percentage as expected also improved by one percent, from 95.58 percent during the first half of last year to 96.27 percent in the same period this year.
Yet when it comes to the tally of sales transactions of single-family homes and condo units, the numbers were down to 6,142 in H1 2014, from 6,290 during the same period last year. It represented a 2.35 percent decrease, DABR data revealed.
Dayton’s lukewarm real estate market may dampen some realtor’s enthusiasm in selling properties in the region, but with the help of innovative real estate marketing technologies, several opportunities are expected in the coming months. Those who are closing deals in the commercial real estate sector, meanwhile, can potentially increase their earnings through the use of these technologies as well.
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