The Edmond Real Estate market continues to show very significant signs of growth as we approach the end of May, 2007. Last year, 2006, brought a rise in most areas of Edmond, Deer Creek and Oklahoma City and indicators are shaping up well for 2007. View the latest statistics here: (OKC Real Estate).
The following chart shows statistics of homes sold in the Cedar Pointe addition, located on the East side of Santa Fe, between Danforth & Covell, from May 23rd, 2006 through May 23rd, 2007 and compares these numbers with their respective numbers from 2005-2006:
|
|
2006-07 |
2005-06 |
Change |
|
Number of sales |
25 |
37 |
-32.43% |
|
Years built |
1997-2004 |
1997-2005 |
|
|
Largest home sold (sf) |
2317 |
2276 |
|
|
Average home sold (sf) |
1894 |
1933 |
|
|
Smallest home sold (sf) |
1572 |
1582 |
|
|
Highest sales price |
$210,000 |
$210,000 |
0.00% |
|
Average sales price |
$174,382 |
$171,667 |
1.58% |
|
Lowest sales price |
$140,500 |
$138,500 |
1.44% |
|
Average list price |
$178,336 |
$173,968 |
2.51% |
|
Sales price vs list price |
97.78% |
98.68% |
-0.91% |
|
Highest price per sf |
$100.65 |
$99.95 |
0.70% |
|
Average price per sf |
$92.27 |
$89.05 |
3.62% |
|
Lowest price per sf |
$76.07 |
$65.97 |
15.31% |
|
Longest DOM |
209 |
324 |
-35.49% |
|
Average DOM |
61 |
79 |
-22.78% |
|
Shortest DOM |
0 |
0 |
|
|
|
|
|
|
|
Current Active Listings |
14 |
|
|
Current Absorption Rate |
6.72 |
|
|
As you can see, the Cedar Pointe comparison from 2006 to 2007 is very promising. While the number of homes sold in 2006-2007 was a bit lower than the previous year, the average sales prices and prices per square foot increased and the days on market decreased. These are healthy signs. With so many Edmond homes for sale right now, it's great to see such strong appreciation figures. However, with a city-wide average absorption rate of just under 5 months, Cedar Pointe's absorption rate is a little high.
If you're curious what your home would sell for or would like a chart more specific to your street, visit our website, where you'll find Cedar Pointe Homes and information, as well as details on many other premier Edmond neighborhoods.
**Based on information provided to and compiled by MLSGateway.com, Inc. covering a period (05/23/05) through (05/23/07). MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy
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