While a few markets around the country are seriously struggling and values declining dramatically, the Real Estate market in Edmond, Oklahoma and the overall OKC metro area is still strong. Yes, for the second month in a row I have some slightly declining numbers, however, we're not yet reporting anything to cause alarm.
The following chart shows the monthly Oklahoma City Metropolitan Real Estate statistics for August 2007 as compared to July 2007 and August 2006.
As you can see, the total transactions closed and total $ volume is lower than this time last year, however, the average price and median price are still appreciating in comparison. You'll also notice that, in spite of the current problems in the mortgage industry, the average interest rate is better than that of August 2006.
The other figures are only slightly changed, and the absorption rate and the Days On Market have improved.
In summary, these figures show us that the Oklahoma City metro area Real Estate market and the Edmond Real Estate market are holding steady, despite the wariness of many consumers. With 9,495 homes currently on the market in the metro, and 1,918 sold in August, we currently have a 4.95 month inventory on hand.
In my experience, buyer traffic is very strong right now and with the anticipated drop in interest rates later this week, many more buyers will be out looking this month. 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 (08/01/06) through (08/31/07). MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy
Realtor ® Associate
Hukill Group - Paradigm Realty
16211 N May Ave
Edmond, OK 73013
direct.: (405) 802.HOME
fax: (405) 285.8428
ryanhukill@cox.net
www.YourOpenHouse.us
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