Summit Parke, Edmond, OK - Neighborhood Market Summary

With every listing presentation I prepare, I'm continually amazed at how well the Edmond Real Estate market is performing (View the latest statistics here), in spite of all of the negative press the National Real Estate market is still receiving. While preparing a listing presentation tonight for a home owner I'm meeting with tomorrow, I found yet another example.

Summit Parke is a small, quiet neighborhood, conveniently located on the North side of NW 150th St, between Penn & Western, within walking distance of Summit Middle School and Charles Haskell Elementary School, and just a mile from Quail Springs Mall and more restaurants than you can imagine.

Summit Parke is also in good company. It's surrounding neighbors include some very popular communities, such as Sonoma Lake to the North, Brasswood to the South, and the prestigious Fairview Farms to the East.

Last year, 2006, brought a significant rise in most areas of Edmond, Deer Creek and Oklahoma City and indicators are still following suit as we head into August, 2007. The following chart shows statistics of homes sold specifically in the Summit Parke addition, from August 1st, 2006 through August 1st, 2007 and compares these numbers with their respective numbers from 2005-2006:

As you can see, the Summit Parke comparison from 2006 to 2007 shows very positive signs. The number of sales increased significantly, along with higher sales prices and prices per square foot. You'll also notice that the percentage of sales price versus list price is quite high. In addition, with an absorption rate of 4.5 months, Summit Parke's inventory is at a healthy level in line with the current city-wide average.

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 Summit Parke Homes and information, as well as details on many other great Edmond neighborhoods.

**Based on information provided to and compiled by MLSGateway.com, Inc. covering a period (08/01/05) through (08/01/07). MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy