Every quarter, Linda and I produce updates of some of the older neighborhoods we work in. This time, I thought I’d share one with you. This is Linwood, one of our favorites. For geographical reference, Linwood Place Amended lies west of Drexel Blvd and east of I-44; south of 23rd Street and north of 16th. Enjoy. If you want to see an update for a particular older neighborhood, contact us. Odds are we are familiar with it.
Quarterly Market Update – Linwood Place
For Period Beginning January 1 and Ending March 31, 2012
| Active – 5 Properties | |||||||
|
Sq Feet |
Bedrooms |
Full Baths |
Half Baths |
List Price |
Sale Price |
Days on Mkt |
|
|
Min |
1420 |
3 |
1 |
1 |
$110,000.00 |
- |
7 |
|
Max |
2593 |
3 |
3 |
1 |
$285,000.00 |
- |
177 |
|
Avg |
1970 |
3 |
2 |
1 |
$196,734.00 |
- |
56 |
| Sold – 5 Properties | |||||||
|
Sq Feet |
Bedrooms |
Full Baths |
Half Baths |
List Price |
Sale Price |
Days on Mkt |
|
|
Min |
1141 |
2 |
1 |
$29,900.00 |
$35,000.00 |
2 |
|
|
Max |
1774 |
3 |
2 |
$175,900.00 |
$175,500.00 |
138 |
|
|
Avg |
1489 |
3 |
1 |
$112,140.00 |
$111,880.00 |
51 |
|
| Pending – 3 Properties | |||||||
|
Sq Feet |
Bedrooms |
Full Baths |
Half Baths |
List Price |
Sale Price |
Days on Mkt |
|
|
Min |
1267 |
2 |
1 |
$99,900.00 |
- |
65 |
|
|
Max |
1357 |
3 |
2 |
$120,000.00 |
- |
187 |
|
|
Avg |
1297 |
2 |
1 |
$110,967.00 |
- |
132 |
|
| Expired – 2 Properties | |||||||
|
Sq Feet |
Bedrooms |
Full Baths |
Half Baths |
List Price |
Sale Price |
Days on Mkt |
|
|
Avg |
3362 |
4 |
3 |
$365,000.00 |
- |
159 |
|
(Data courtesy of MLS Gateway. Information is believed to be accurate but is not guaranteed. Not intended to solicit currently listed properties)
The numbers look more balanced in Linwood now than they have for some time. Sales have been off since the beginning of 2011, but appear to be bouncing back. Five homes sold in the first three months of 2012 (compare to four sales at the end of 4Q 2011; and five at the end of 3Q and 2Q 2011). As a point of reference, there were six sales at this time last year, and nine in the fourth quarter of 2010. Three were under contract as of March 31, slightly better than two on Dec. 31 and one on Sept. 30. Of more importance to sellers, the number of houses for sale is lower. There were five homes for sale as of March 31, down from nine at the end of December; down from 17 at the end of the third quarter; and down from 15 at the end of the second quarter 2011. That should help the supply/demand ratio. Since I like to see the number of pending and sold listings equal to or greater than the number of active listings, these numbers are healthy – particularly compared to recent numbers. Two listings expired in the first quarter (including the large one at 3141 NW 18. It did not re-list. The other one re-listed and got a contract after seven days). That’s the same as the previous two quarters.
Please let us know if we can help you. And if you, a friend or a relative want to buy or sell a house, please keep us in mind. Referrals are the lifeblood of our business.
Dan & Linda Connally
Realtors, Paradigm-AdvantEdge Real Estate
16301 N. May Ave., Edmond, OK 73013
405-760-4653 (Linda)/ 405-760-4645 (Dan)
www.connallyrealtors.com
danconnally@sbcglobal.net
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