Dayton OH May 2023 Housing Market
When people find out I’m a Realtor the question often arises, “How’s the market?” We always hear about state or national housing stats on the news and radio but what about our local Dayton, OH market? That’s what matters to those of us who live and work in the Dayton area. The Dayton Board of Realtors publishes those statistics for us monthly. New listings to the market are down 26.60% over May of 2022. That’s a lot! What does that do to sales? It pushed them down 13.92 % simply because there are fewer places to buy. Median price jumped 2.27% due to the supply shortage. A lot of sellers are afraid to put their homes on the market for fear they won’t be able to find a replacement. This contributes to the short supply. So, it’s a great Seller’s Market but tough to navigate if you are a buyer. As a buyer there are things you can do to make your offer stand out. I know the best options to get your offer accepted. Just reach out to start the conversation.
Heat Pumps Explained
When I’m showing homes for sale in the Dayton, OH area there is often some confusion on what a heat pump is and how it works. Heat Pumps are common in the Dayton area and are an alternative when other heating options are not available or are too costly. They are all electric so no need for the additional cost of a tank for propane or oil. They are cheaper to run than the resistance heat you would find with electric baseboard heat. Here’s what confuses buyers, the same unit both heats AND cools the home. You don’t have two separate systems as with a furnace and a central air unit. In the summer the heat pump provides cool central air via the magic of thermodynamics which allows it to extract heat from the interior of the home and transfer it to the outside. In the winter, a reversing valve allows it to absorb heat from outside and transfer it inside. The amazing part is it can actually extract heat from exterior temps down to around 30 degrees! It’s a very efficient system but not without some drawbacks. The system is less well suited to colder northern climates but does well in the Dayton area. When the temps get into the 20’s and below it can’t extract enough heat from outside to warm the house efficiently so it switches over to resistance coil heat. Basically, like a giant hair dryer for the house. It is much more expensive to run in this mode. Feel free toreach out with any home buying, selling or inspection based questions!
Radon in a Slab Home?
As I help people buy and sell homes in the Dayton, OH area the single biggest misconception I run across is people believing that radon is only a potential problem on homes with a basement. This is FALSE! The second highest radon level I’ve personally seen was in a ranch home with a slab. Radon is heavier than air so the highest concentration will be in the lowest level of the house. So, if there is a basement that’s where we test but that does not mean you can’t have it in a house with a crawl space or one built on a slab. Radon comes from the decay of uranium which is naturally occurring in the ground. As the uranium decays, if off-gases radon which is a cancer causing radioactive gas which when inhaled at certain levels can cause cancer. Radon is the second leading cause of lung cancer just behind smoking. The fix is pretty simple and involves installing a pvc pipe beneath the floor of the home that has a fan that runs 24/7. This gentle vacuum pulls the radon up and exhausts it outside rather than allowing it to build-up inside. The system generally runs about $1200.00 to install and costs about $50.00 per year to run. Feel free to reach out with any questions that come to mind surrounding home inspections and more.
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