June 2022 Preston Report
8/8/2022
What a change, still busy enough not to get report out on time, but a lo of changes in the last month.
Sold houses for the Edmond area were down 6% for June, 503 vs 533 last year. Back to numbers before covid, actually would be a high before the last two years. year to date sales are down 10.7% with 280 fewer sales thru June in 2021, a record year.
Average prices though were up for June.
The big chances were Active and pending contracts.
Active listings rose from 474 listings to 740. almost three times as much as we started the year with. But we started the year at an all time low. Since 2000 up to Covid we had not been below a 1000 active listings, so still under where we have been in the past. Most of them in the upper price ranges but all price ranges had increases and some sitting on market even in the lower price ranges. asking too much price or too much for condition.
Pending contracts are down 14% from May with 122 fewer and down 20% from last June with 188 fewer contracts than this time last year.
A big difference is the days to sale, priced right are still at 3 days on market, where the active listings, the ones still available and have not sold yet have an average of 52 days and Median of 32 days.
Things are still moving, but asking what you want no matter the condition is over.
Absorption rates up in every price range but $700,000 to a Million because they had a real good closing month, almost matching how may sales we had the first five months of the year.
Click Here for The Preston Report
Sold houses for the Edmond area were down 6% for June, 503 vs 533 last year. Back to numbers before covid, actually would be a high before the last two years. year to date sales are down 10.7% with 280 fewer sales thru June in 2021, a record year.
Average prices though were up for June.
The big chances were Active and pending contracts.
Active listings rose from 474 listings to 740. almost three times as much as we started the year with. But we started the year at an all time low. Since 2000 up to Covid we had not been below a 1000 active listings, so still under where we have been in the past. Most of them in the upper price ranges but all price ranges had increases and some sitting on market even in the lower price ranges. asking too much price or too much for condition.
Pending contracts are down 14% from May with 122 fewer and down 20% from last June with 188 fewer contracts than this time last year.
A big difference is the days to sale, priced right are still at 3 days on market, where the active listings, the ones still available and have not sold yet have an average of 52 days and Median of 32 days.
Things are still moving, but asking what you want no matter the condition is over.
Absorption rates up in every price range but $700,000 to a Million because they had a real good closing month, almost matching how may sales we had the first five months of the year.
Click Here for The Preston Report