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Brian Preston

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7/28/2015 May 2015 Preston report

Sales are down for May 2015. Year to date sales are 1590. Behind 2014 (1645) and 2013 (1622). Listing inventory is up as well. the homes that are not selling.

The number of pending contracts are down also.

We are still having a good year and thinks are moving. Good houses have multiple offers on them and as soon as they come on the market. in the lower price ranges buyers have trouble finding a houses to buy for this reason. Some of our upper ranges have seen the best pending contracts they have seen in years. Prices along with, of course the average price, keeps rising.

We are not on track for a record year but it is still a good market, better than previous years of 2012 and earlier.

We will have to see how the summer months do

 

Check out The Preston Report here

6/11/2015 April 2015 Preston Report

April made a nice rebound from March and we are only off pace from last years record start by 7 transactions.

Inventory is still down overall but the higher priced homes inventory is increasing. The silver lining to that is that so are the pending numbers.

We also have already had three closings of over one million dollar new homes this year, Spec houses. which the last few years two has been our top number for the year. And there is another one under contract.

I would like to see some of these make it to closing. The sold numbers are still off from the pending numbers but not as bad as they were in the past.

The lower price ranges gap between pending sales and active listings keeps growing. A couple of years ago we had no price ranges where we had more pending sales than active listings. Under $150,000 we have three times as many more now.

For the numbers click here

4/24/2015 March 2015 Preston Report

we saw a drop of 5.31% in sales for the first quarter. down 45 transactions from last year. most of which we saw in March. But march of 2014 was a big record breaker. We also see a rise of pending contracts over last year so hopefully we will see those numbers get back to a record setting pace. Even if they do not it looks like another good year for Edmond.

Pending numbers are up across the board. All the price ranges under $200,000 have more homes under contract than active inventory. We also see an increase in the number of bigger homes under contract. We have three new construction homes over a million dollars under contract. A first, we have not had that many close in a year. I hope they all make it to the closing table.

New home inventory is up and pending and closed numbers are down from previous years. But the good side is inventory is down and pending numbers are up from February. Just the opposite. not as good as it was previous years but better than last month. Improvement.

Click here for the numbers on THE PRESTON REPORT

 

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

 

 

 

 

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