Are You Correctly Timing the Market to Sell?

Are you planning a move in 2015? Maybe you need more room for your kids - maybe you are tired of your neighbor living right on top of you - maybe you are tired of taking care of that big house and want something a little smaller.  Whatever your motivation, the market needs to be considered.  

Why Can't I Find a Home I Like?

Inventory levels in the Edmond market vary greatly by price range.  Generally, a balanced market in real estate is considered to have 6 months of inventory on hand.  After looking over the data, we can see that anything under $400,000 is leaning towards a seller's market.  Generally, the lower the price, the higher the demand.  Keep in mind that the average number of days on market for each price range below $400,000 is less than 70 days, and in some cases much lower. 

The Chart

Price (up to) ACT PEND CLOSD Units Per Month Inventory (Months) AVG DOM
$150.00 65 288 659 54.9 1.18 32
$200.00 78 232 755 62.9 1.24 43
$250.00 99 176 519 43.3 2.29 57
$300.00 103 176 415 34.6 2.98 69
$350.00 117 108 298 24.8 4.71 65
$400.00 108 92 228 19.0 5.68 69
$450.00 70 88 137 11.4 6.13 59
$500.00 49 32 94 7.8 6.26 82
$600.00 56 60 112 9.3 6.00 69
$700.00 40 44 47 3.9 10.21 85
$800.00 18 12 42 3.5 5.14 66
$1,000.00 18 4 30 2.5 7.20 123
$5,000.00 31 16 13 1.1 28.62 129

So What Does This Mean for Me?

If you are thinking of selling your house and it is less than $400,000, then we have less competition.  Just the opposite is true if your home is worth more than $400,000.  Our marketing and pricing strategies will help you get the most out of your home.  For an evaluation of your home, give us a call at 509-0541 for click on the "Contact Us" button on the top bar.

 All data in this post is based off of the Edmond school district and MLS data - believed to be accurate but not guaranteed.