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Brian Preston

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5/3/2013 March Edmond Real Estate Stats
Year to date sales are up 15.7% over last year. and last year year was a record year in number. We have also started off the year with three of the highest months for homes under contract with over 700 homes under contract for Jan thru March with hitting a record high in March with 823 Homes under contract in the Edmond area.
 
We should see prices going up as well because in some prices ranges we have more homes under contract then what is active on the market to buy!!
 
Our sold homes have not hit the pending numbers because we have deals busting form loans, appraisals and inspections, but also the new home market is strong and quite a few of those pending numbers are under construction for months before being completed.
 
At this pace we should look at very big record breaking year for 2013. Being the traditionally slowest months of the year, the first quarter, we are setting these numbers.

Click her to view the *Preston Report*
4/1/2013 The Preston Report for February 2013

Just like the spring weather of  this past weekend, the Edmond area market is heating up. Despite a dip in closings for February of 4% compared to last year, the year-to-date sales are still up 5%. Pending sales continue to rise with almost 200 more homes under contract this year than this time last year, rising to a record 750 homes under contract.

Now we just need for them to close. Lately there have been a large number of contracts submitted compared to deals closing. It would be nice to know why they are not making it to the closing table. Inspections, appraisals, financing or whatever the reason might be, this is one area that needs improvement. 
 
The number of available houses on the market is down 12% from last year. With this low number of homes a few price ranges have dropped below two months for absorption rates. The four prices ranges between $100,000 and $200,000 all have more pending listings than they do active listings. A great sign for sellers in those markets!
 
The new home market has seen a lot of activity with the highest number of pending sales in years. Plus two great months for closing on new homes kicked off the year right. 
 
The next few months will be interesting to watch to see how many of these homes under contract close. We could be on our way to another record year at this pace. 

Now we just need to get some more homes on the market. 
 
Click here to view the [February Preston Report]
3/5/2013 Preston Report for January 2013
2013 is taking off like a rocket, at least Edmond Home sales.

All stats are showing a positive outlook for the start of the year.

Active homes on the market is at it's lowest level since 2006. with under 1200 homes on the market in the area. A lot better than pushing that 2000 mark.

Homes sales for January were up 17.59% over last years start.

But the big news is the number of homes under contract. 734 homes in the Edmond area had contracts on them in January. up 53.88% over the same time last year. matter of fact we did not have a single month that made it over 700 contracts last year. that includes the summer months and we did it this year in January!

The real question is how many of these deals will stay together to the closing table.

Contracts for new homes hit an all time high since I started this report. January's numbers tower over any other month for the last five years.

Lets keep it up Edmond and set another record year for Real Estate

To view my Report click here  Preston Report
1/17/2013 2012 Preston Report
Records Have been broken!!

Sales are up 19% over last year, but not only were sales up we broke records!

The records for sales and volume set in 2007 have been broken in 2012. and the highest average sales price set in 2008 was also broken this year.

2007 was our record year for sales with 3739 homes sold in the Edmond and Deer Creek areas. Also the total sales dollar volume was also set in 2007 with $875,591,542 in real estate sales.

2012 broke the sales record with 3790 transactions closed last year. breaking the record by 51 Tranactions. But we broke the record on total volume closed by over $71.4 million. 2012 saw $947,036,274 in real estate closed. Way to go Edmond.

The 2008 record for highest average sales price was also broken this year by $5,000 with an average sales price for 2012 of $249,878

The fourth quarter was outstanding helping us to break this records and the number of pending contracts are still at high number for this time of year. If rates and inventory stay down we can plan on some good numbers for 2013 as well.

click here for the 2012 {Preston Report}
12/31/2012 November 2012 Preston Report
What a fourth Quarter we are having.

November sales are up 40.84% over last year with 300 sales for Novemeber compared to 213 for 2011.
YTD sales through November 30 are up 18.64%.

Listings are down and pending sales and closed sales are up. all good signs!

This report is a little late this month so i have a feel for year end numbers as well.
Edmond area has officially broke the records for total number of sales, total volume sold, and highest average price. all set in 2007 are being broke by 2012. You can not argue with the numbers. things are lot better in Edmond!!

As of right now we have 3752 closed houses for the Edmond area compared to 3739 in 2007. did not beat it by much but it is a record. the big one is volume. The record volume was set in 2007 with $875 million in sales. we almost reach that through November this year. So far we have $937 million in closing for 2012

2013 will start off with headlines of "record year for Edmond real estate"

Lets hope 2013 looks just as bright.

Happy New Year to everyone!

Click here for the Preston Report
12/17/2012 October 2012 Preston Report

We have started off the fourth quarter with an explosion. October 2012 blew away the previous five years. With an increase in sales of 22.65% or 58 more transactions this October over last year. This makes our year to date sales up 16.9% over last year. an increase of 460 more homes sold for the year.

With more deals waiting to close then we have had this time of year. 2012 will end not on a high note but a bang!!!

New homes sales up across the board and our winter numbers this year looks more like a spring market!!

Upper end houses are seeing an up swing with all the relocations into Edmond.

I am sorry i didn't get to wish you a Happy Thanksgiving, But I did make it in time to wish you a Merry Christmas

Check out the numbers on the Preston Report

October 2012 Preston Report
10/30/2012 September 2012 Preston Report
September fell just short by a few tranactions of beating last years month. But we are still up 400 sales for the year!! which is still a 16.22% increase over 2011. A great year in the making!

The pending numbers are still way above the charts. It would be nice to see a better close to bust ratio. Just think of the year we could be having.

Speaking of which it has been a busy month, so this report will be short so I can get back to work!!

Click below
The Preston Report for September 2012
9/24/2012 August 2012 Preston Report
The trend for 2012 has stayed alive with August. Sales are still up with August out preforming last August by 22.92 %.
The year to date sales are up 19.23% over 2012.
Actually, August was so good it was the second best month overall for the last six years!

The pending market feel below 600 homes for the first time since March of this year. But it is still well above normal numbers for this time of year.

With The active number of listing staying low and homes sales up, the absorption rates are improving in most price ranges.

2012 is looking to be a good year for Edmond Real Estate!!

Go to the Preston Report to check out the numbers

 click here for AUGUST PRESTON REPORT
8/28/2012 July 2012 Preston Report

The summer is coming to an end, but the market is still going strong. Edmond area home sales are up 18.58% for year to date sales through July 31. and with sales pending over 600 for the fifth straight month, August should have some good numbers as well. It looks like we are going to have a great year!

This July out preformed all July's for the last six years, including 2007 our record year. This does not mean we are on a record setting pace. But we have had three months out of seven this year that the same can be said. Which has us going in the right direction.

New home closings saw July as it's second best closing month since August 2008. With even more new homes under contract waiting to close, a six year high of new home pending sales.

2012 is shaping up into a great year, confidence in the market combined with low interest rates have things moving again. I look forward to reporting year end results for 2012!!

Click here for the Preston Report

Brian Preston
RE/MAX Associates
7/25/2012 June 2012 Preston Report
Well, here we are half way through the year and still going strong.
June sales were up again 8% over last June. Which made Year to Date sales up 18.61 over last year.
It does not look like the increase will slow down with our fourth straight month with over 600 homes under contract!
A couple other signs are out there too.
Like the absorbtion rate for $100,000 to $125,000 price range is lower than two months at this time, great news!
And even in $250,000 to $300,000, there are at this time, more homes under contract than what is actively on the market.

I am excited to see what the end of the year will turn out to be.

Click here to view the Preston Report

Brian Preston
RE/MAX Associates
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