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Brian Preston

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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

3/7/2014 January 2014 Preston Report
We are starting off the year down from last year, But only by six transactions.
The number of pending contracts is down as well but well above the previous years.
 
The real story is lack of inventory. Active listings are down from last year but even more so in the lower price ranges.
There are only 10 active listings under $100,000 with 12 pending contract in that price range.
But the $100,000 to $125,000 price range has 32 homes under contract and only 6 active listing to choose from in all of the Edmond area. That is the biggest cap I have seen since starting this report. It was impressive to have more pending contract homes than active listing last year, but to have over five times as many shows where or prices are going. It is getting harder to find this price range in Edmond.
 
We are at the same number of homes on the market as there was in 2005, the hot sellers market everyone remembers, But when you take into consideration that we sold over 400 more houses than we did in 2005, Supply and demand is more on the sellers side than 2005.
 
We will have to see how this affects us for 2014
 
Click here for the January 2014 Preston Report
1/17/2014 December 2013 Preston Report
It is always nice to hit a milestone in the sales business. Well, Edmond, you hit three of them in the same year. For the first time we had over a billion dollars in sale volume -- $1,067,494,151 for the Edmond and Deer Creek market area to be exact.
 
We also blew past the 4000 homes sold milestone with 4149 homes sold in 2013, topping the record set last year of 3790 sales. This is a 9.4% increase!
 
The last milestone was an easy one. The average sales price in Edmond jumped to $257,290. This is the first tinme we have been over the $250,000 mark. Last year we were only shy by $200.
 
2013 was a great year for Edmond Real Estate! To have three big milestone hit in one year is virtually unheard of. It may be a while before we break records on this level again.
 
The 2013 fourth quarter was not as strong as 2012, but it was still head and shoulders above other years.
 
Listing inventory just dropped to numbers comparable to 2005 as well. We are getting close to dropping under 1000 homes for sale as opposed to breaking 2000 homes on the market a few years ago. The biggest lack of houses is under $175,000. We spent most of the year with as many of these homes under contract as what was available. The charts for these price ranges look like ski slopes for the active inventory. The absorption rates for this price range is one to two months.
 
Another year has passed and Edmond stood out again compared to other parts of the metro, state and nation. Way to go and be proud you live or work in such a great community.
 
12/13/2013 November 2013 Preston Report

Merry Christmas to you all!!

 

We are coming to the close of another year and we do not even have to wait for the last month of stats. We have set a new record for the number of sales in the Edmond market area!

 

Last year's record of 3792 sales has already been broke with 3875 closings through the end of November. And we came very close to passing the Billion dollar milestone as well -- just shy of $995 Million.

 

November itself was down 25 sales from last November, only the second month this year to miss last year's mark. I was surprised we matched October's super preformance last year, so I am not surprised about November falling short.

 

2012's fourth quarter was unbelievable. We may not be matching it but this years fourth quarter is blowing away the fourth quarters from the previous four years before 2012.

 

We are up 11.25% for year-to-date sales over last year which is 392 more homes closed so far.

 

November was a very strong month for the over $500,000 price range with 26 closing in that price range and four of those over a million dollars.

 

Listing inventory is still down. Most of these drops are in the price ranges below $175,000. If you look at the graphs, active listings in those price range have been in a free fall since last year. The high summer months' inventory didn't even get close to last year's fall numbers. We are getting close to 2005 numbers in the way of inventory.

 

A sign for a good start for 2014 is that pending numbers are still at a all time high. So lets finish off this year with a bang and get started with 2014!!

 

Click here for the Preston Report

 

 

 

11/18/2013 October 2013 Preston Report

October matched last October sales with 314 homes closed. That puts our year to date gain at 13.07%. Still on our wayto that milestone of 4000 closed homes. We just need 502 more closings to meet that mark in the last two months. We had 609 closings in the last two months of 2012.

 

Compared to the rest of the year, matching October's numbers from last year seems like a decline. However, it was during the fourth quarter last year that the big upswing in sales began. So matching it is still good for our market.

 

It looks like we should keep that streak going with an all time hign in the number of pending sales for this time of year.

 

October also saw us hit over $900 million in sales volume in Edmond for only the second time in History. The other mile stone of a billion dollars in sales volume is right around the corner. We averaged about $75,000,000 a month for November and December last year. And we just need over $83,000,000 in closed sales to break through that mark.

 

Another Milestone that we have already reached is the first time the average sales price in Edmond has broke the $250,000 price mark.

Lets keep up the good work and good news Edmond

Click here to view the PRESTON REPORT

10/18/2013 September Preston Report

This is one of the reasons I do this report. let the numbers speak for our market and not our feelings. I have slowed down. Feeling the slow down and hearing ever one else talk about how slow the market has turned, got me wondering if the market had dipped.

But September numbers are very strong. we sold 69 more homes this year in September then we did in 2012. An increase of 23.63% for the month.

And our year to date closings are up 415 tranactions over last year for an increase of 14.74% for the year.

Of course some will say yeah that was September, what about October. Well the numbers are not in yet but we have 30 more homes under contract for this time of year then we did last year. So the pending contracts are still up.

The Market slows down every year about this time, but we are still out preforming previous years. So lets keep it up, we are still on track for a record breaking year and hitting those new milestones.

 

Click here for the Preston Report

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