Edmond Market Update (March 2015)

 

Data collected using OKCMAR MLS within boundaries of Edmond Public Schools March 1-31, 2015
Data collected using OKCMAR MLS within boundaries of Edmond Public Schools March 1-31, 2015

Did I catch you on a coffee break? While you sip away, let me give you the low down on the real estate market here in Edmond for last month. We started March 2015 with an inventory of about 830 listings and we’re headed into April with 835 homes on the market. In between, a whole lot of buying and selling went on. Here’s how it shaped up (beware, lot’s of numbers ahead!);

In March, 368 shiny new listings hit the market with an average list price of $322,620. Of those, 106 are already under contract and 7 have closed. March also saw 311 contracts accepted after an average 67 days on the market. The average list price of those homes was $300,527. Another 259 transactions closed with an average sold price of $257,869 or $105.67 per square foot. The highest priced home to sell went for 1.2 million (81% of list price and 162 days on market). It’s a 5800 square foot home right on the Gaillardia golf course. The lowest priced home was a little one bedroom condo near Quail Springs Mall that sold for just 54K (97% of list price and 20 days on market). Just two miles separate the homes.

As I’ve said before, inventory is still low and the good ones are selling quick (many with multiple offers). If you’re planning to buy, have your ducks in a row and a pre-approval in hand. If you’re thinking of selling soon, let me know by completing the form below with your address in the comment section and I’ll get back with you ASAP with a custom report detailing your home’s value.

Talk to you soon!

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