Good news in OK for home sellers | News

EDMOND, Okla. -- We've heard a lot about the struggling housing markets across the country, but it seems there is good news about a market right here in the metro. Edmond is a bright spot.

RE/MAX realtor Brian Preston says, "It's a good thing we're in Edmond. It's a good thing we're in Oklahoma. Real estate is all about location, location, location and we have not been hurt here like other parts of the nation."

Last year things were getting good and this year, so far, they're getting even better.

The number of homes closed on in January in Edmond and Deer Creek is up 26 percent from January of 2011.

The buying boom caught homeowner Morgan Stotts and her family a bit by surprise; her home sold in three weeks.

She says, "We actually have nowhere to go. I guess that's a better position to be in than two house payments."

All indications show January’s numbers are more than just a fluke.

Homes under contract are at a six-year high and the number of homes on the market are at a six-year low.
Preston says, "Our supply is going down and demand is going up. We're selling more houses. The next thing to be affected could be the prices."

Mostly sellers are getting their asking price with multiple offers.

Newly-built homes are selling better now too.

Stotts says, "I work for a home builder, a custom builder. We're swamped right now and actually looking to hire more people."

With low interest rates and low home prices right now, anyone considering a new home should be excited.

Preston says, "You do all the math and everyone should know OK, it's time to move."

Stotts adds, "I think it's a great thing because your home, your property values are hopefully are going to start to go back up. So that's good for everybody's pocket."

January is not usually a good month for home sales, so these numbers are especially promising.

Preston says it's the less than $300,000 homes that are going quickly helping boost our metro housing market.