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 specifically in the Thomas Trails addition, located on the South side of Covell, between Kelly & Broadway, from May 28th, 2006 through May 28th, 2007 and compares these numbers with their respective numbers from 2005-2006:
| 2006-07 | 2005-06 | Change | |
| Number of sales | 27 | 30 | -10.00% |
| Years built | 2005-2007 | 2004-2005 | |
| Largest home sold (sf) | 2569 | 2322 | |
| Average home sold (sf) | 2001 | 1956 | |
| Smallest home sold (sf) | 1805 | 1657 | |
| Highest sales price | $229,900 | $200,650 | 14.58% |
| Average sales price | $192,269 | $177,986 | 8.02% |
| Lowest sales price | $162,500 | $158,900 | 2.27% |
| Average list price | $195,422 | $178,009 | 9.78% |
| Sales price vs list price | 98.39% | 99.99% | -1.60% |
| Highest price per sf | $103.68 | $99.14 | 4.58% |
| Average price per sf | $96.18 | $91.29 | 5.36% |
| Lowest price per sf | $86.71 | $76.23 | 13.75% |
| Longest DOM | 312 | 365 | -14.52% |
| Average DOM | 122 | 90 | 35.56% |
| Shortest DOM | 0 | 0 | |
| Current Active Listings | 15 | ||
| Current Absorption Rate | 6.67 |
As you can see, the Thomas Trails comparison from 2006 to 2007 is very promising. While the number of homes sold decreased slightly from 2006 to 2007, the overall sales prices and prices-per-square-foot saw significant increases. The sales price vs list price stayed strong while the days on market did see an increase. In addition, the absorption rate is a little higher than the current citywide average (under 5 months), but I don't believe it's high enough to be alarmed.
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 Thomas Trails 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 (05/28/05) through (05/28/07). MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy
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