Rain, rain, go away! That was the song being sung by Realtors all over Edmond as we did our best to shield our clients with enormous golf umbrellas and sludge our boots through mud at new construction home sites. We survived the wettest May on record and still managed to sell a whole bunch of real estate!
Here’s an Edmond Market Update; we started the month of May with sunny skies and 892 active listings within the Edmond Public Schools boundaries in the MLS. As we start June, the sunshine is back and there are 888 active listings.
In May, 459 new listings hit the market with an average list price of $335,515 (despite the rain, that was only 8 less than were listed last May). 35% of those new listings have already sold or have accepted offers. May saw 375 contracts accepted after an average 45 days on the market. That’s almost the same as the previous month. The average list price of those pending transactions was $296,408.
302 homes sold in Edmond last month with an average sold price of $280,998 after about 45 days on the market. That’s a slight increase from the previous month. The highest priced home sold for just under 1.5 million in Sweetwater, a neighborhood east of Arcadia Lake. It happens to be the same addition that the highest priced home sold in during April. Seems to be the hot neighborhood for the jet setters out there, if you’re in the market, I’ll clear my schedule! On the flip side, the lowest priced home to sell last month went for just $29,500 in Arcadia (yep, that’s Edmond Schools).
Inventory in Edmond 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!