Is Southwest Oklahoma City, OK a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Southwest Oklahoma City has remained a Seller's Market.
Key Takeaway
Southwest Oklahoma City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southwest Oklahoma City, OK
How much do homes in Southwest Oklahoma City, OK cost?
Median Sold Price
$270,000
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Southwest Oklahoma City has remained the same since last year.
Summary: The median home sold price in Southwest Oklahoma City was $270,000 in May 2024, the same as last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $224.9K | $123.7K | -45.0% |
| 2 Bedrooms | $155K | $168.5K | +8.7% |
| 3 Bedrooms | $239.9K | $243.6K | +1.5% |
| 4 Bedrooms | $330.2K | $324.6K | -1.7% |
| 5+ Bedrooms | $416.7K | $402.9K | -3.3% |
Summary: Southwest Oklahoma City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 45%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 1.5%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes decreased by 3.3%.
Housing Supply in Southwest Oklahoma City, OK
How many homes are available in Southwest Oklahoma City, OK?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 730 | 741 | +1.5% |
Summary: The Southwest Oklahoma City real estate market had 741 homes for sale in May 2024, a 1.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 14 | 14 | 0.0% |
| 3 Bedrooms | 376 | 374 | -0.5% |
| 4 Bedrooms | 300 | 308 | +2.7% |
| 5+ Bedrooms | 39 | 44 | +12.8% |
Summary: The Southwest Oklahoma City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 0.5%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 12.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 173 | 174 | +0.6% |
Asking Price vs. Sold Price
62 Homes Were Sold
Under Asking
78 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest Oklahoma City, expect to pay close to the asking price. 44.8% of homes here sold near the asking price last month.
Summary: A total of 174 homes were sold or pending in Southwest Oklahoma City in May 2024, up by 0.6% month-over-month. Of the 174 sold homes, 36% were sold under asking, 45% were sold at asking, and 20% were sold over asking.
Days on Market for Southwest Oklahoma City, OK
How long does it take to sell a home in Southwest Oklahoma City, OK?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 40 Days | -6.2% |
Summary: Homes in Southwest Oklahoma City had an average of 40 days on market in May 2024, down by 6.2% compared to last year.
Breakdown of Home Sale Times
104 Homes Were Sold
Under 30 Days
47 Homes Were Sold
In 30 - 90 Days
23 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest Oklahoma City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 174 homes were sold in Southwest Oklahoma City; 60% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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