Edmond Real Estate - OKC Housing Statistics for March 2007

Despite the daunting reports from the national media about the real estate market, Edmond Real Estate trends still continue to build steam. The following chart shows the monthly Oklahoma City Metropolitan housing statistics for March 2007 as compared to February 2007 and March 2006. As you can see, more transactions were closed this March than both last month and March 2006, resulting in a higher sales volume. In addition, the average and median sales prices were higher than this time last year and the average interest rate is even improved. You'd have to really want to see negatives to notice that the average percentage of selling price to listing price dropped slightly and the average "Days On Market" increased from 74 to 93. I believe these two factors are affected simply by the increase in overall homes on the market in comparison to this time last year. Overall, these figures show us that the Oklahoma City metro area Real Estate market and the Edmond Real Estate market are still going strong, despite the wariness of many consumers caused by continual negative media attention. With 8,491 homes currently on the market in the metro, and 1,762 sold in March, we have a 4.8 month inventory on hand, which is greatly improved over last month's 6.2 month inventory. Spring is here and, while it's still a buyer's market, things also look very positive from a sellers standpoint. If you have any questions about buying or selling Real Estate 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 (03/01/06) through (03/31/07). MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy