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.