The Edmond Real Estate market continues to show very significant signs of growth as we rapidly 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 Homestead addition, located on the NW section of Santa Fe & Danforth, from May 24th, 2006 through May 24th, 2007 and compares these numbers with their respective numbers from 2005-2006:
|
|
2006-07 |
2005-06 |
Change |
|
Number of sales |
20 |
22 |
-9.09% |
|
Years built |
1996-2001 |
1996-2002 |
|
|
Largest home sold (sf) |
2513 |
2645 |
|
|
Average home sold (sf) |
2309 |
2443 |
|
|
Smallest home sold (sf) |
2055 |
2256 |
|
|
Highest sales price |
$231,000 |
$231,200 |
-0.09% |
|
Average sales price |
$212,170 |
$211,318 |
0.40% |
|
Lowest sales price |
$191,000 |
$194,000 |
-1.55% |
|
Average list price |
$215,054 |
$214,313 |
0.35% |
|
Sales price vs list price |
98.66% |
98.60% |
0.06% |
|
Highest price per sf |
$98.05 |
$91.27 |
7.43% |
|
Average price per sf |
$91.90 |
$86.52 |
6.22% |
|
Lowest price per sf |
$85.93 |
$81.42 |
5.54% |
|
Longest DOM |
96 |
170 |
-43.53% |
|
Average DOM |
26 |
51 |
-49.02% |
|
Shortest DOM |
3 |
2 |
|
|
|
|
|
|
|
Current Active Listings |
2 |
|
|
Current Absorption Rate |
1.20 |
|
|
As you can see, the Homestead comparison from 2006 to 2007 is very promising. While the number of homes sold in 2006-2007 didn't change much from the previous year, and the overall sales prices stayed level, the average prices per square foot saw significant increases and the days on market decreased substantially. These are healthy signs for Homestead and for the Edmond Real Estate community as a whole. With so many Edmond homes for sale right now, it's great to see strong appreciation figures and quicker sales and with a city-wide average absorption rate of just under 5 months, Homestead's absorption rate is VERY strong at well under 2 months.
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 Homestead 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 (05/24/05) through (05/24/07). MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy
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