The Edmond Sun
Edmond’s market for homes increased in value this year, according to most recent figures.
The average price for a home in Edmond increased this year from more than $235,000 in January and February to $265,052 in September, according to Preston’s Edmond Market Report.
This report is prepared by Brian Preston of RE/MAX Associates Realtors. The report extends through September of this year. The most homes sold in a month occurred with 397 in August. January reported the fewest homes sold with 199, according to the report.
“I think it’s going to be a phenomenal fourth quarter,” Preston said. “We’ve had Devon transferring people up from Houston and I’ve been going non-stop.”
Families shopping in Edmond for a new home found the average price the lowest in April at $254,995, down from $266,057 in January. The average cost for a new home in Edmond peaked in August at $281,995 before a slight decline to $279,843 in September.
“As of September, we’re up 16.25 percent,” Preston said. “And it looks like fourth quarter numbers are going to hold steady if not increasing that over last year. We’re up 400 transactions, year-to-date at this time.”
In September, there were 1,339 residential homes on the market with 292 sold that month. This brings a total of 2,865 homes sold since January, according to the report.
Active listings of homes were fewer than 1,400 on average this year. However, the report shows that more homes were listed under contract in 2012 from March to September. And in August, the number of homes sold was the most in five years, nearly tying the 400 units sold in 2007.
In September, there were 2,865 homes that had sold since January, 1,339 were on still on the market and 560 were under contract.
“Depending on the price range, we’re actually having trouble finding houses for people,” Preston said.
Most of the sales, 400, were in the range of $250,000 to $300,000, with the second highest selling sector in the $150,000 to $175,000 price range, according to the report.
TO LEARN MORE about home sales in Edmond, visit http://www.edmond4sale.com/prestonreport.aspx?ptid=8984669.