Edmond Market Update (February 2014)

More snow and ice. Not exactly the way I would choose to start March. But as long as we’re all stuck inside, we may as well take a quick look back at the real estate market here in Edmond, Oklahoma for February. As always, the report is prepared using data gathered using the Oklahoma City Metropolitan Association of REALTORs MLS within the boundaries of Edmond Public Schools February 1, 2014 through February 28, 2014.

As we begin March, there are 765 active listings within the Edmond Public Schools boundaries. They’ve been on the market for an average 91 days. During February, 331 new listings hit the market with and average list price of $239,354. A third of those are already under contract or have closed. 

271 homeowners accepted offers on their property during February. Almost half of those were also new listings.

In February 174 transactions closed for an average sold price of $240,976. As a matter of fact, 60% of the homes sold here went for less than 250K making it more affordable than many people think. Four additions stood out as top selling Edmond neighborhoods for February 2014. They were Northampton and Silver Hawk on the west side of town, Robin Ridge off of Santa Fe and Faircloud near I35 and Covell.

For a detailed report of what’s happening in your own Oklahoma neighborhood, drop me a line at kristyn.grewell@century21.com. Be sure to check back tomorrow for my take on the traditional tactic of testing the market at a higher list price in our current market conditions.

Talk to you soon!

Leave a Reply

Your email address will not be published. Required fields are marked *