Elite Real Estate & Dev. Blog

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BUYERS-2nd Quarter might be very competitive!

Edmond Home Sales down in January 2014

 

Our cold winter has slowed home sales.  I am expecting the 2nd Quarter to be very competitive for home buyers with more buyers waiting for better weather.  What does this mean for you, the buyers?  Probably more competition for the small Inventory we have (currently around 6000 in the metro for sale with the average being closer to 8000 so).  Here is the data.

 

MARKET SUMMARY

There are currently 128 properties in Edmond,  OK only that are in some stage of foreclosure (default, auction or bank owned) while the number of homes listed for sale on RealtyTrac is 766. 

In February, the number of properties that received a foreclosure filing in Edmond, OK was 40% higher than the previous month and 40% higher than the same time last year. 

Home sales for January 2014 were down 49% compared with the previous month, and down 15% compared with a year ago. The median sales price of a non-distressed home was $191,100. The median sales price of a foreclosure home was $193,000, or 1% higher than non-distressed home sales.

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