Edmond's real estate market is experiencing a price correction, with values down 5.7% from last year. Home prices have decreased 7.7% in the past month. With 2.8 months of supply, Edmond's inventory levels remain relatively tight. Homes are taking about 27 days to sell, which is 8 days longer than this time last year. A significant 33.5% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 22.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Edmond market with the affordability index at 30.6. Looking ahead, the Edmond market is expected to maintain its current trajectory with relatively stable conditions.
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