While a few markets around the country are struggling or declining, the Real Estate market in Edmond, Oklahoma and the overall OKC metro area is still increasing at a healthy, steady rate. The following chart shows the monthly Oklahoma City Metropolitan Real Estate statistics for May 2007 as compared to April 2007 and May 2006.
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, while the average interest rate and the percentage of sale price to list price have remained steady. The overall days on market and the absorption rate have improved over last month, even though they're still a little higher than this time last year. Total closed transactions and volume is up over both last month and last year, so we're still in a building trend and even the indicators that are higher than this time last year are improved over last month.
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 caused by continual negative media attention. With 8,838 homes currently on the market in the metro, and 1,994 sold in May, we have a 4.43 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 (05/01/07) through (05/31/07). MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy
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