Dayton OH Property Values: Understanding What Your MiamiValley Home is Really Worth

Understanding home value isn’t always simple. If you’re buying or selling in Dayton or the Miami Valley, you’ve probably seen different numbers—market value, assessed value, appraised value—and wondered which one is right.

As a local Realtor® with years of experience helping clients across Montgomery County, I’m here to break down what each term means and how these valuations impact your real estate decisions.

What Is Market Value?

Market value is the estimated price your home would sell for today—between a willing buyer and seller under normal market conditions. It reflects current Dayton real estate trends, buyer demand, and comparable home sales.

This is the number that matters most when you make or receive an offer.

What Is Assessed Value?

The assessed value is what the Montgomery County Auditor assigns to your property for tax purposes. In Ohio, assessed values are often updated every few years and typically lag behind the actual market.

That’s why your assessed value may be lower than your purchase price—which often means lower property taxes.

What Is an Appraisal?

An appraisal is a professional opinion of your home’s market value conducted by a licensed Ohio appraiser. Lenders require it to ensure the home is worth what you’re paying (and what they’re lending you).

If the appraisal comes in low, you may need to renegotiate the price or bring more cash to closing.

What Is a Comparative Market Analysis (CMA)?

A Comparative Market Analysis (CMA) compares your home to recently sold properties nearby to estimate fair market value. It’s a tool real estate agents use to price homes competitively.

I offer free CMAs to help Miami Valley buyers and sellers make informed pricing decisions.

How These Values Affect Your Finances

Property Taxes: Based on your assessed value, paid annually (often through your escrow account).

Transfer Tax: A one-time fee when the home changes ownership. In Montgomery County, this amount varies and is negotiated in the purchase contract.

Loan Approval & Closing Costs: Based on appraisal value—not market or list price.

Why Do These Values Differ?

Each value has a unique purpose:

• Market Value: Guides offer pricing and negotiation
• Assessed Value: Used for tax calculations
• Appraisal Value: Required for mortgage underwriting
• CMA Value: Helps you understand pricing strategies and local market trends

Common Questions from Dayton Home Buyers

Q: “Why is my assessed value lower than what I paid?”
A; In Ohio, assessed values often don’t keep up with current market prices. That’s actually a good thing—it typically means lower property taxes.

Q: “What if the appraisal is lower than the purchase price?”
A: You may need to renegotiate the contract, bring additional funds to closing, or request a second appraisal from a licensed Ohio appraiser.

Your Next Step: Know Your Home’s True Value

Understanding the different ways a home is valued puts you in control during your real estate journey. Whether you’re preparing to buy, sell, or refinance in Dayton or the Miami Valley, I’m here to help.

Need a custom market analysis?

Contact Claire Dunn Real Estate for a free CMA and a clear picture of what your home is worth today.