Warning, serious number crunching ahead! That’s right, it’s Edmond real estate market update time!
Here in Edmond we’re kicking off May with 1233 active listings, that might sound like a lot of signs in the ground but it’s about the same amount we had as we entered March. The number of homes listed (531) remains a bit lower than the total contracts accepted and transactions closed (575). If current conditions remain the same and no more homes were to come on the market in Edmond, it would take almost six months to sell through the current inventory. That means we are in a balanced market.
Here’s how the rest of the Edmond real estate market breaks down for April 2016;
- 531 new listings hit the market in Edmond last month with an average first list price of $286,000
- 25% of the homes listed in April are already either under contract or sold.
- 318 offers were accepted by sellers. They had an average list price of $240,000 and had been on the market for an average of 25 days.
- 257 transactions closed during April with an average sold price of $205,000 and had been on the market for about 43 days. That’s less than 10 more closings than in March.
- Year to date, one home is sold in Edmond every .14 days. About 7 homes a day so far.
- The lowest priced home to sell was a small one bedroom, one bathroom condo near Quail Springs Mall. It went for about $63,000.
- The highest priced home to sell had over 4800 square feet with four bedrooms, three and a half bathrooms, and three living areas on just under an acre in Redmond Trace. That’s near Coffee Creek and Bryant. It went for $1,090,000. It was the only million dollar home sold in Edmond last month.
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Data collected for this report by using the OKCMAR MLS within the Edmond Public School boundaries April 1-30, 2016