By James Pratt
Edmond, Oklahoma home sales are up 8.2% so far through November 2012 versus 2011. According to the OKC Metro MLS, 3,207 homes were closed in Edmond through Dec 7, 2012 versus 2,861 through Dec 7, 2011. This is a very strong market since 2011 was also a good year. Our experience also reflects this. We are seeing homes selling for much closer to asking price than before, and more buyers in the market for fewer homes. Hence, prices are finally starting to rise ever so slightly from the past couple of years. New home starts are also up as builders see increased demand. The market right now seems to be very stable with good solid growth but without the overheating we saw a few years ago. Right now is a good time for home sellers in central Oklahoma, but because of continuing low interest rates and the low inflation rate, it is also a good time for buyers in this market. The market seems to be fairly balanced right now and is not really a buyer’s or seller’s market.