While a few markets around the country are struggling or declining, the Real Estate market in Edmond, Oklahoma and the overall OKC metro area continues to show signs of strength. The following chart shows the monthly
Oklahoma City Metropolitan Real Estate statistics for
June 2007 as compared to
May 2007 and
June 2006. | | Jun-07 | May-07 | Jun-06 | 1-month change | 1-year change |
| TOTAL CLOSED | 2031 | 1994 | 2031 | 1.82% | 0.00% |
| TOTAL $ VOLUME | $315,551,833 | $302,824,147 | $310,036,903 | 4.03% | 1.75% |
| AVERAGE PRICE | $155,367 | $151,833 | $152,652 | 2.27% | 1.75% |
| MEDIAN PRICE | $130,000 | $130,000 | $128,000 | 0.00% | 1.54% |
| AVG. INT. RATE | 6.19% | 5.96% | 6.40% | 3.72% | -3.39% |
| %SELLING PRICE TO LIST PRICE | 97% | 98% | 99% | -1.03% | -2.06% |
| DAYS ON MARKET | 74 | 78 | 66 | -5.41% | 10.81% |
| NUMBER OF LISTINGS | 8955 | 8838 | 8419 | 1.31% | 5.99% |
| ABSORPTION RATE | 4.41 | 4.43 | 4.15 | -0.52% | 5.99% |
The first thing you'll notice is that all value comparisons to last month and last year reflect very positive appreciation. Both the average and median home prices are up, and the average interest rate is lower than this time last year. The overall days on market and the absorption rate have improved slightly over last month, even though they are a little higher than this time last year. Total closed transactions is up over last month and even with last year, while the total volume is up over both last month and last year.
In summary, these figures show us that the Oklahoma City metro area Real Estate market and the Edmond Real Estate market are still on the rise, despite the wariness of many consumers. With 8,955 homes currently on the market in the metro, and 2,031 sold in June, we have a 4.41 month inventory on hand. This summer appears to be a great time for buying and selling Edmond Real Estate. If you have any questions about Homes for Sale in Edmond, OK, please don't hesitate to contact us for a free, no obligation analysis of the current market. In the meantime, you'll find a wealth of information at our Edmond Real Estate website.
**Based on information provided to and compiled by MLSGateway.com, Inc. covering a period (06/01/06) through (06/30/07). MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy
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Very nice post on your local market. It's good to see that Edmond real estate is alive and well!