Each month my friend and local realtor Brian Preston prepares his “Preston Report” that shows historical trend data on home sales in Edmond. For 2010, Edmond area home sales were down 4.25% compared to 2009, and down 20% from the record year of 2007. But when compared to other national housing markets, that number is pretty good. For comparison:
- Oklahoma City MLS home realty sales were down 10.66% from 2009
- Total USA real estate sales were down 26.4% in 2010
Compare that to:
- Philadelphia down 44.5%
- Minneapolis down 39.1%
- New Orleans down 38.9%
- Miami down 13.2%
- Phoenix down 11.4%
- San Diego down 11.4%
When you compare the Edmond market in 2010 to other national markets, our slight decrease of only 4.25% looks pretty darn good!
Here are a few interesting statistics for the Edmond real estate market in 2010:
- Average home sale price – $233,011
- Average new home sale price – $249,581
Despite slight decrease in home sales, the average price is up from last year, and is the third best average home sale price in the past 10 years. So the good news for Edmond home owners is the home values are increasing despite a soft market.
For more detailed analysis you can download Brian’s report below.
