What's going on in Edmond Real Estate?

The Edmond Real Estate market continues to show very significant signs of growth as we approach the middle of June, 2007. Last year, 2006, brought a significant rise in most areas of Edmond, Deer Creek and Oklahoma City and indicators are following suit in 2007. View the latest statistics here: (OKC Real Estate).

The following chart shows statistics of homes sold specifically in the Bridgewater addition, located on the East side of Santa Fe, between 2nd & Danforth, from June 11th, 2006 through June 11th, 2007 and compares these numbers with their respective numbers from 2005-2006:  

	2006-07	2005-06	Change
Number of sales	4	5	-20.00%
Years built	2003-2004	2003-2004
Largest home sold (sf)	1982	1996
Average home sold (sf)	1818	1922
Smallest home sold (sf)	1620	1831
Highest sales price	$173,900	$167,000	4.13%
Average sales price	$158,975	$162,100	-1.93%
Lowest sales price	$145,000	$157,000	-7.64%
Average list price	$160,350	$163,480	-1.91%
Sales price vs list price	99.14%	99.16%	-0.01%
Highest price per sf	$89.51	$85.75	4.38%
Average price per sf	$87.56	$84.32	3.84%
Lowest price per sf	$83.25	$82.73	0.63%
Longest DOM	75	67	11.94%
Average DOM	43	35	22.86%
Shortest DOM	14	15
Current Active Listings	2
Current Absorption Rate	6.00

As you can see, the Bridgewater comparison from 2006 to 2007 shows some positive signs. Although there hasn't been much growth in the area and the number of sales was slightly lower than last year, the prices-per-square-foot saw respectable increases. The overall sales prices did decline slightly, but the sales prices vs list price stayed level. With a city-wide absorption rate of just under 5 months, Bridgewater's inventory is a little heavy at 6.00 months, but it's not high enough to cause major concern. 

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 buyer and seller tips & how-tos, as well as details on many other great Edmond neighborhoods.

**Based on information provided to and compiled by MLSGateway.com, Inc. covering a period (06/11/05) through (06/11/07). MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy

I'm especially excited about this particular listing appointment because I grew up in this area. As a 1990 Putnam City North graduate, I was in elementary school when many of these homes were built and got to see many of them go up. I spent many hot summer days at the Willow Creek Estates HOA community pool and riding bikes through the streets. These homes, ranging in size and style, have character and charm. The community has the same, with winding, hilled streets, creeks and lots of trees.

Most of my reports are usually about Edmond Real Estate, but I wanted to share the information I've found while investigating the sales statistics for the Willow Creek Estates area. The following chart shows statistics of homes sold specifically in the Willow Creek Estates addition, from June 7th, 2006 through June 7th, 2007 and compares these numbers with their respective numbers from 2005-2006: 

	2006-07	2005-06	Change
Number of sales	31	22	40.91%
Years built	1973-1987	1975-1983
Largest home sold (sf)	3259	3535
Average home sold (sf)	2268	2252
Smallest home sold (sf)	1821	1835
Highest sales price	$199,500	$179,400	11.20%
Average sales price	$143,722	$137,714	4.36%
Lowest sales price	$112,500	$110,000	2.27%
Average list price	$147,367	$138,304	6.55%
Sales price vs list price	97.53%	99.57%	-2.06%
Highest price per sf	$74.90	$73.65	1.70%
Average price per sf	$64.00	$61.69	3.74%
Lowest price per sf	$45.63	$45.34	0.64%
Longest DOM	195	170	14.71%
Average DOM	55	62	-11.29%
Shortest DOM	0	3
Current Active Listings	11
Current Absorption Rate	4.26

As you can see, the Willow Creek Estates comparison from 2006 to 2007 is very positive. The number of homes sold increased sharply, and the overall sales prices and prices-per-square-foot saw very significant increases. While the Days On Market did see a small increase, the absorption rate of 4.26 months is slightly better than the city-wide average of just under 5 months, indicating that homes in WCE are selling slightly better than average Oklahoma City Metro area real estate and that this community isn't overloaded with inventory on the market. 

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 buyer and seller tips & how-tos, as well as details on many other great NW Oklahoma City and Edmond neighborhoods.

**Based on information provided to and compiled by MLSGateway.com, Inc. covering a period (06/07/05) through (06/08/07). MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy

The following chart shows statistics of homes sold specifically in the Valencia addition, located on the NW section of NW 178th & Penn, from June 7th, 2006 through June 7th, 2007 and compares these numbers with their respective numbers from 2005-2006:

	2006-07	2005-06	Change
Number of sales	94	33	184.85%
Years built	2005-2007	2005
Largest home sold (sf)	3225	2395
Average home sold (sf)	1756	1701
Smallest home sold (sf)	993	1277
Highest sales price	$389,735	$259,325	50.29%
Average sales price	$177,352	$153,784	15.33%
Lowest sales price	$113,178	$112,526	0.58%
Average list price	$177,782	$158,672	12.04%
Sales price vs list price	99.76%	96.92%	2.93%
Highest price per sf	$124.05	$108.28	14.56%
Average price per sf	$101.51	$91.31	11.17%
Lowest price per sf	$81.01	$42.89	88.88%
Longest DOM	390	205	90.24%
Average DOM	149	81	83.95%
Shortest DOM	0	0
Current Active Listings	41
Current Absorption Rate	5.23

As you can see, the Valencia comparison from 2006 to 2007 is very positive. The number of homes sold increased sharply, due to increased building activity. This community began construction in Spring of 2005, so the number of closings in 2005 was limited and the community really picked up steam in 2006. The overall sales prices and prices-per-square-foot saw very significant increases, also due to the construction volume being so much higher in 2006. The sales price vs list price was very strong for the last 12 months while the days on market did see an increase. With a city-wide absorption rate of just under 5 months, Valencia's inventory is a little heavy at 5.23 months, but it's not high enough to cause concern. 

Figuring an accurate CMA for Valencia can be tricky, due to the wide variety of homes in size, sytle, price, and builder. If you're curious what your home would sell for or would like a chart more specific to your street, click here. We also have information on other great Edmond neighborhoods you may be interested in.

**Based on information provided to and compiled by MLSGateway.com, Inc. covering a period (06/07/05) through (06/08/07). MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy