Brian Preston, a Realtor in Edmond, has felt a slowdown in home sales.
Other Realtors have felt a slowdown.
Indeed, there was a slowdown from August to September, but that is not unusual. Area Realtors handled 1,691 sales in September, a 16-percent drop from 2,013 sales in August, according to the Oklahoma City Metro Association of Realtors.
But it was a smaller month-to-month drop than last year, when sales fell 25 percent from 1,922, in August to 1,442 in September, records show.
Home sales in September still beat sales in September 2012.
Year to year, what slowed down was the rate of increase, according to the Realtors and Preston's own Preston's Edmond Market Report.
“This is one of the reasons I do this report. Let the numbers speak for our market and not our feelings,” he wrote in a blog post. “I have slowed down. Feeling the slowdown and hearing everyone else talk about how slow the market has turned got me wondering if the market had dipped.”
No dip year over year. Edmond saw 361 homes sold in September, 69 more than in September 2012, an increase of 24 percent, Preston said.
Edmond still strong
Edmond also still outperformed the metro area as a whole. Realtors in the Oklahoma City area handled 1,691 home sales in September, compared with 1,442 in September 2012, a 17.3-percent increase, according to the Metro Association of Realtors.
“Of course, some will say, ‘Yeah that was September. What about October?' Well the numbers are not in yet, but we have 30 more homes under contract for this time of year than we did last year. So the pending contracts are still up,” Preston said.
Year to date, 3,283 houses were sold in Edmond through September, 415 more than the same period last year and an increase of 14.74 percent, Preston said.
Year to date across the metro area, Realtors handled 15,243 sales, 25 percent more than in the first three quarters of 2012, the association reported.
“The market slows down every year about this time, but we are still outperforming previous years,” Preston said. “What a year 2013 is turning out to be: record highs, highest number of sales so far, up 13.53 percent over last year, most homes under contract at one time for many months running and the highest number of closings for a single month,” he said. “We have seen it all in 2013. It just makes it appropriate that we are closing in on two milestones in real estate for 2013 in Edmond.
Preston said Edmond is closing on two milestones.
“The first is 4,000 closings in one year. We are on track for reaching that number even if we do not have increases in sales for the final ... months,” he wrote on his blog. “The second one is sales volume. We are on track for having our first year in Edmond for over a BILLION dollars in sales volume. Yes Billion, with a capital B! Edmond finished just over $50 Million short last year. We are $111 million over this time last year. We should blow past that milestone easily.
“We will break those records even if the market doesn't keep increasing. Yet monthly sales keep surpassing last year, and the number of pending contracts are still at all-time highs for this time of year. July fell behind July of 2012 but August saw them up over last year again. 2013 will be a year to remember.”
This is one of the reasons I do this report. Let the numbers speak for our market and not our feelings.”
A Realtor in