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Brian Preston

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September 2016 Preston Report


September sales matched September of last year. With over four hundred closings for the month. It still leaves use down 5% for the year or down 174 transactions from last year.

Active listings held steady compared to last month. But pending sales are down from not only last month but from last year. The good news is that even though pending sales were down from last year we had the same number of closings. More deals are making it to the table.

It will be interesting to see how our fourth quarter does this year. We have had years where we were on track the first nine months, and set records and fell apart in the fourth quarter. Of course I do not see a record year coming this year, But hopefully it will be steady like September.


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August 2016 Preston Report


Edmond area sales down 2.98% for August. The third month in a row for sales to drop. We are down 185 transactions from this time last year or down 6.14% in closed transactions. The average sales price is also down $14,000 from last year. Our total sales volume is down for year to date almost $79 Million. We are still on track for breaking the Billion dollar sales volume but will fall short of the last couple years in volume. New homes sales are off even more. They are down 19% from last year.

We did see a drop in number of active listings from last month, even though we have 340 more listings than last year. But at least they are not still going up and following the fall usual of drop in listings.

This does not mean a buyers market just because we have a drop. This drop is off record setting years. It is turning into a normal market. With some price ranges and areas still a sellers market and some a buyer can work a deal. It is more important to price a property right in this market instead of trying for that better price.

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July 2016 Edmond Stats


Edmond home sales dropped again in July. down 9.7% from last year a total of 46 fewer homes sold this year for that month.

Bringing the year to dates sales short 204 closed deals compared to 2015, down 7.8% for the year.

Active listings held steady this month. That is the first time in a year that they did not increase.

We should easily break the billion dollar volume mark again this year with the average price holding steady.

the $500,000 to $700,000 had an up swing in July closings, overall and new homes.

To see all the numbers click below

July 2016 Preston Report

June 2016 Preston Report


June saw another down month compared to last year. Sales for June fell 11% from last June. Bringing the YTD total sales down 5.5%. A total of 114 transactions short. The active listing market is up as well. there are 30.7% more homes on the market compared to this time last year.


The big increase in listing came in the $275,000 to $300,000 prince range. It had an increase of 14% in listings just from last month. Making most the absorption rates to rise.

The number of pending sales also dropped both from last month and last year.

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May 2016 Preston Report


May saw another down month with sales dropping 5.58% which makes the YTD sales down 4.05%

Active listing increase by 49 listing over last month up 2.87%. But that is a 32.57% increase over May of 2015. We are at the highest number of active listing since 2010. But not at the almost 2000 listings we had then.

Pending contracts are up 4.74% over last month. But they are down 7.68% from this time last year.


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April 2016 Preston Report


Another roller coaster start to the year. two good and two bad months.

April left us down 3.6% for YTD sales from last year. Down 43 transactions. The number of Pending sales are also down from last year as well, so it will be interesting to see where this year goes.  Active listings held pretty steady compared to last month.

New homes sales are where we are down. We had 56 less closing of new homes so far this year down 16.32% from last year. the number of active new homes did drop by 27 this month.

It still depends on the price range you of the house. Some ranges you can not find a house in as a buyer or very little to choose from at the time or you have so many to choose from in other price ranges. Last year May is where things started picking up so hopefully we will see that this year.

To see the numbers

Click here for Preston Report


March 2016 Preston Report


Sales rebound in March. Enough to take us from down 4.6% in sales after the first two months to down just two transactions after March sales were added in. So down just 0.02% from last year.

New Homes had a great rebound in March. We hope to see that continue. Pending contracts are down from last year but still had an increase from last February.

Active listings is where we are seeing the biggest changes. March saw the highest number of active listings for the last 72 months. That is usually a summer month we see the high numbers. Active listing increased 8.6% from February numbers but up 43.3% from march of 2015. Another change was new home inventory was down from the month before for the first time in a couple years. Meaning most of the active increase is existing homes.

The $450,000 to $500,000 price range had a good Pending month with a 200% increase in contracts. Jumping from 10 to 30 properties under contract.

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February 2016 Preston Report


This year is starting like last year with one month up and the next down. February was down 20% in sales from last February making us down 4.6% for year to date sales. February was down 53 sales from last year and year to date sales down 22.

Active listings is up from last month but compared to this time last year the number of homes on the market have increased 37.4%. From last month the majority of the increase is in the price ranges over $275,000. Under that price range we are keeping steady.

Homes under contract is holding steady at almost the same number as last year. So hopefully next month will be up like last year.

New homes sales have fallen behind the whole market. the sales volume for new homes is usually a third of the total volume of homes sold. this year it is about a fourth of the volume. The absorption rate for every price range in new homes under $700,000 increased this month. The only reason that one price range did not increase is the number of active listings went down. Could be from price adjustments or just off the market at this time.

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January 2016 Preston Report


Starting off the year with a 15% increase in the number of sales over last January! A good start.

Listing inventory is down 13% from last year, but until we see a change in the closings that has been good. It has been dropping for year but closing has still be good which means more deals are making it to the closing table.

Active listing has been holding at 26% increase from same time last year for a few months. Has not increased.

New homes are just the opposite. hardly a change in the number of active listings compared to last year. But pending contracts are down 33% on new homes from last January. And more so even with the 15% increase in sales for January overall, new home sales were down 38% over last January.

I combined the two price range fields in new homes to one field. under $150,000 and $150,000 to $200,000, were combined to one field of under $200,000. Most the second half of last year we did not have a listing active in the lower price range.

The over million dollar price range for new homes went from over 30 months to down below six months. This comes from the number of active listing being cut almost in half. and actually selling, they were just not changed in the MLS until after the first of the year. First time in years the absorption rate for this price range has been under 30 months.


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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.  


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