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Brian Preston

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1/27/2016 2015 Preston Report

December was a great finish to 2015. One of the best Decembers on record. We just missed the record number of transactions by 13. 4271 closings in 2015 compared to the record year of 4284 in 2014. We did set records in sales volume and average price. 1.22 Billion dollars in closed transactions for Edmond and Deer Creek school area. With an average price of $286,264. The median sales price was $239,900

new home sales was 52 transactions off from last year. 1079 sales this year compared to 1131 in 2014. The average sales price was up this year on new homes to $332,618 compared to $308,217 last year. With a total of 358.9 million dollars in sales volume.

Active inventory is up about 25% from last year. making the overall market a normal market. but some price ranges are still a sellers market because of storage of homes. and other price ranges have a large number of homes for buyers to choose from putting them more in the drivers seat.

it will be interesting to see how 2016 shapes out with oil and gas prices at such a low. We will see if our economy is diversified enough to handle it.  


Click her for The Preston Report

12/28/2015 November 2015 Preston Report

 November Sales were up 15 transactions compared to last year. Which puts year to date sales down just under one percent. We have closed 3938 deals this year compared to 3975 last year. Not a bad year.

Active listings dropped from October but compared to November of last year we are now up 29% in the number of active homes on the market. new home inventory keeps rising. 47% of the homes in Edmond on the market right now is a new home.

Pending numbers are also up 15 units from last year. They took their tradition big fall from October but doing better than last year.

Does not look like we will set a record this year, but the numbers of sold properties are good. Pending looks good as well. It is the active listings we will have to watch next year.


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11/23/2015 October 2015 Preston Report

Like I thought we did not keep up with such a big month last October. Our year to date sales are now down 1.58% from this time last year. We are behind 59 Closed transactions. We do have more homes under contract then we did last year but this could be from the new TRID rules that went into effect Oct 1. Which could delay some closings. This October fell 74 closed deals short of last October.

Listing inventory is up 24% from this time last year. New homes have gone above 600 homes on the market for the first time in six years.

The sales volume is up $48.5 million over last year even though sales are down. Thanks to the Higher average price. We crossed the one billion dollar in sales volume in October.

Click here for the Preston Report

10/27/2015 September 2015 Preston Report

I have heard some people lately say we are in a buyers market now. It is hard for me to call it a buyers market when we are five transactions ahead of a record year thru September. But we are seeing a change with 25% more homes on the market than this time last year. We only have an increase of 33 homes from last month. But this is the time of year after school has started that our inventory starts going down.

It depends upon the price range you are in. Some ranges have an abundance of homes and others we are selling with multiple offers. I have also heard some say they are glad to see more inventory because they are having trouble finding something for their buyers. But our sellers have gotten use to selling as soon as we put them on the market. That does not make it a buyers market yet. Just a normal market.

With Oil prices the way they are we will see more homes come on the market. It remains to see if the new jobs in other fields coming in will off set them or not.

I do not see us actually breaking last years record unless we have another great fourth quarter like we did last year. last year's fourth quarter was so far above previous years. But we had a good summer to put us back on track so far after being a little behind through Winter and Spring.

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9/21/2015 August 2015 Preston Report

Another good closing month for August with 431 transaction closed. We are up 16 transactions from last year record numbers. But that is not even a full percentage increase. While on the other hand the number of active listing is up 19.49% from this time last year. And Pending contracts is at the exact number of last year with 649 contracts waiting to close.

New homes on the market are up 15% from this time last year but up 28.8% from two years ago.

We are on track for another record year, but sellers will have to watch what they are asking for their house with more competition out there for them. Pending contracts are still good, but more house will be sitting with the new inventory.

Prices are up with an average of $284,138 and a median price of $239,900.

The lower prices ranges are still hot with hot much to choose from. And even the $300,000 to $350,000 is having great numbers. We will have to watch to see how the extra inventory effects us. But all other numbers are still good and slightly ahead of record setting pace.

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9/14/2015 July 2015 Preston Report

After being behind last years record setting pace we caught up and are ahead eight transactions through July. 2533 closed transactions over 2014's 2525.

The average and median prices are both up from this time last year. The average and median price for year to date are both up, with an average price of $284,919 and a median price of $239,000. Last year they were $268,826 for average and $226,000 for median prices.

The active inventory is up 16% over this time last year. More inventory then we have had the last two years but better than we had for the previous years before that.

Pending lists are holding steady and they are still less than we had a few years ago but still closing more so more are still making it to the closing table.

For more details click below

July 2015 Preston Report

8/2/2015 June 2015 Preston Report

June was a good month for Edmond Real Estate. 477 Closed Transactions up 21 from last June. That still puts us 34 transactions behind last years Year to date sales. But average sales price keeps climbing. A lot of that is the number of large transactions with 21 homes over a Million dollars already closed this year. That is the same number of closings in that price range we had for all of 2014.

Active listings is up again. This is the largest total of listing we have had since 2011. We are not at the active listing totals we had in 2008-2010 at almost 2000 but is a large increase compared to what we have had the last couple years. The lower price range is the exception with fewer homes to choose from if any. The $150,000-$175,000 had more pending contracts and even more closed homes than active listings.

Our Pending are down as they have been for a while but compared to previous years the closing rate is still better.

Click below to check out June Numbers

JUNE 2015 Preston Report

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


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