Oklahoma City Real Estate Market Data - June

Real Estate Market Data for Oklahoma City
June 2022:
Average Sales Price: $240,000
Median Days on Market: 4
Months of Inventory: 1.3
Average Sales/List Price Ratio: 100%

If you’ve googled “Is now a good time to sell my home?” or “Is now a good time to buy a home” you’ve probably heard some pretty scary stuff. The big news outlets will make you think that the Oklahoma City real estate market is crazy or maybe you’ve heard the market is crashing! What is actually happening in the market is a little less intense than you might expect.

Inventory is up from where we were at the bottom of the shortage when we had less than 0.6 months supply, but overall still low! *This varies by price point though! Higher price points naturally have a little more inventory because there are less buyers looking for these homes.

Well priced homes throughout the metro area are still selling quickly and close to list price. However, buyers are being more conservative with offer terms.

Sellers: Pricing your home competitively and having it in the best possible shape for showings is going to be important than ever as inventory continues to increase. When given options, buyers will choose the best priced comparable home that fulfills their needs.

Buyers: You may notice more options to choose from! Many builders are offering closing cost assistance and other incentives to help move inventory. You still need to act fast if you see your dream house, but it may not be as difficult to get a home as you might think!

Are you thinking about buying a new home, selling your house or even purchasing an investment property this year? Let's chat and figure out what the best strategy would be for you!!