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Brian Preston

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3/18/2015 Februarry 2015 Preston Report

Back on track!!

February Sales were up 13% over last years. Bringing us back on track after a down January. Year to dates sales are up nine transactions over last year. Our best February in last six years.

New homes also the best February in years. Matter of fact the $150,000 to $200,000 price range for February saw more sales in then either month for the last fifteen months. Even better then last summers months.

We have about the same number of homes under contract so we should keep on track next month.

We are off on a roller coaster year, but on track for another great year.


Click here for the Preston Report

2/27/2015 Preston Report for January 2015

It is January, so you never know what to expect.

Edmond sales start off sluggish, down 9% from last January. But Pending contracts is right at last years numbers.

Inventory is up 8.68% from this time last year but matches 2013 numbers.

Average sales price was way up for January with an average price for the month of $290,000 and an average of $331,000 for new homes. The upper price ranges had a good January.

The four price ranges under $175,000 are keeping up the trend of more homes under contract than active on the market. And the $275,000 to $300,000 price range had a big spike in pending contracts this month.

It will be interesting to see how the year goes. Makes you wonder if Oil prices are effecting our sales. Or is it just January as usual. unpredictable


Click here to go to the Preston Report

1/23/2015 2014 Preston Report

For the second year in a row Edmond has set a new record in residential home sales. topping last years record by 189 closed sales with 4284 closing for 2014. We also set a new Volume record with 1.155 Billion dollars of sales for the Edmond market area.

November had fallen way short of previous Novembers. But December was the highest in years to help us break the record.

Our pending contracts have been behind the previous years numbers all year. But that is a very good sign being our closed deals are up. Showing we are getting more of these contracts to the closing table. With a few price ranges having more closing then pending contracts. Great ratio.

The number of active listings are still down. Not to an all time low but way down for the demand compared to then. If a house is priced right and more important updated and good shape it is selling like hot cakes.

December also saw the most home under contract in the over million dollar price range. going to be a great start for that price range in 2015. made me remember an interview I did in 1995 as President of the board talking about 1994 sales. Saying we had properties sell from $15,000 as a low to the high price that year was around $750,000. A big difference in 20 years.

You can still see a big difference in listings versus sales as price ranges go up. The cap in the charts get wider. Under $200,000 Pending out paced active listings almost all year long. Even one month Closed out paced pending and active houses. I would like to see that more often.

So I would say lets celebrate a great 2014, but we are all to busy working on a busy start to 2015. Good Luck all


Click here to see the Preston Report

11/21/2014 October 2014 Preston Report

Well October was another great month. With 71 more closings than October of 2013 for an increase of 23.5% over last October.

That brings our year to date sales up to a 4.8% increase.

That also makes my statement last month false! I said we should hit the one billion dollar sales volume sometime in November. Thanks to this great month we passed that number in October! Way to go Edmond.

New homes followed suite and also had a great two months.

listings are up a bit from this time last year, more so for new homes. The biggest increase in total listings came in the $250-275,000 price range. with a 26.5% increase in the number of homes on the market.


We can go into the holidays knowing we are on track for a record year.


Happy Thanksgiving!!

Click here for the numbers on the Preston Report

11/7/2014 September 2014 Prest Report

What a September. We had 57 more closings than September last year for an increase of 14.85%

We had a drop in the number of listings as we usually do this time of year after school starts. But new home listings are up. Especially in the $500,000 to $700,000 range.

Pending contracts fell as well. mostly in the $150,000 to $200,000. We are behind last year again with the number of homes under contract, but we are still out pacing it in closings. Which is a good sign that more of these deals are closing.

We should break the Billion dollar sales volume in November.

Click here for the Preston Report

10/22/2014 August Preston Report

We are still making headway over last year. We have 47 more closings for 2014 over the same period in 2013. for an increase of 1.6% over our record breaking year.

Total Volume in sales dollars is up 6% over 2013 with over $44 million more in sales.

This is from the average price being up $11,000. and that average is just not made up from the big houses only. Actually the over million dollar home sales are down from last year. We had 22 closing of homes over a million in 2013 and so far this year for the same time period we only have 13 sales.

Click here to go to the Preston Report


8/28/2014 July 2014 Preston Report

July fell short from last year by just 13 closed transactions. 423 compared to 436 last July. But we are still up by 59 closed transactions for the year. With 2521 closing this year and 2462 in 2013.

July was the first month this year to have more pending contracts then the same month last year. Every month has fallen short of 2013 and then July comes in with 102 more pending transactions then last July. 700 for this July and 598 last year.


Last years pending contracts ranged from 720-830 per month and fell off to 598 in July. This year the number did not fall off in July. Which hopefully means another big month for August or September.

Click here for the July Preston Report





7/31/2014 June 2014 Preston Report. Edmond Real Estate Stats

Homes sales are still up compared to last year's record-setting numbers -- up 3.56% over 2013. June alone was up 12.38% over last June with 50 more homes closed for that month!


June was also a good month for the higher price ranges. In fact 25% of the sales for the year on homes over $400,000 happened in June 2014.


Pending contract numbers are down, but with totalsales up that shows a higher success rate over last year for getting the deals closed. The $150-175k price range had the best ratio this month in pending to closed numbers. At the same time, the $275-300k range saw a large amount of those homes come back on the market.


While total home sales are up, new homes sales are down about 5% from last year. New home sales have only outsold last year two out of the six months so far whereas total sales have outpaced last year four of those six months. Pending contracts on new homes have not reached last year's numbers in any of those months.


2013 was a record year for volume of sales and we are on pace to surpass this record right now!


June 2014 Preston Report

4/15/2014 March 2014 Preston Report
What a month! It was our best March in years if not ever. Our first quarter sales are up 3.4% over our record year last year and up 18.18% over 2012 for the first quarter. Inventory is still lacking in certain price ranges. We have more homes under contract than what is available in all price ranges from $175,000 and down. We even have more closed homes than active listings in the three prices ranges under $150,000.Way to go Edmond for that $100,000 to $125,000 price range! We have more closings than pending contracts for the first time that I can remember. Most of what was under contract last month closed -- very few busted deals in this price range for March. That is a great sign.We did see higher than usual closing ratios overall in our market. We are down all three months for this quarter in the number of pending contracts from last year. There are about 95 contracts less per month as a matter of fact. But our closed numbers are higher than last year. I hope we can keep that up and, better yet, improve on it. Have a Happy Easter!!Click here to go the Preston Report
4/1/2014 February 2014 Preston Report

We are keeping up with last year’s record-setting pace, even if it is just by a hair, with two more closed transactions compared to 2013.


Inventory is still down, especially in the lower price ranges where active listings have dramatically disappeared. Absorption rate in these price ranges is under a month.


The number of homes under contract has dropped as well, but it has not affected closings at this time. We could be having a better closing rate on contracts. The number of pending contracts may be behind last year’s numbers but they are still soaring over numbers from previous years.


We are seeing a lot of multiple offer situations on homes. This mainly happens when homes that are move-in ready and lacking competition, or when they need work but are priced to reflect such. Those that are trying to take advantage of this strong market by asking premium prices for houses that need work are learning that buyers are not willing to settle even when there is not much to choose from.


The next few months will be a sign on where we are going this year. But everything is moving in the right direction so far. 


February 2014 Preston Report

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