Is Central 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, Central Oklahoma City has remained a Seller's Market.
Key Takeaway
Central Oklahoma City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Central Oklahoma City, OK
How much do homes in Central Oklahoma City, OK cost?
Median Sold Price
$192,305
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Central Oklahoma City have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in Central Oklahoma City was $192,305 in May 2024, up 1.2% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $118K | $102K | -13.6% |
| 2 Bedrooms | $141.8K | $150K | +5.7% |
| 3 Bedrooms | $194.2K | $194.9K | 0.4% |
| 4 Bedrooms | $271.9K | $266.6K | -2.0% |
| 5+ Bedrooms | $355.9K | $314K | -11.8% |
Summary: Central Oklahoma City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.6%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 0.4%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 11.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Youngs-Englewood | $175K | $219.2K | +25.3% |
| Central Oklahoma City | $190K | $192.3K | +1.2% |
| Pennsylvania Place | $266.5K | $199.7K | -25.0% |
| Aurora | $260.5K | $194.5K | -25.3% |
Housing Supply in Central Oklahoma City, OK
How many homes are available in Central Oklahoma City, OK?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,212 | 1,298 | +7.1% |
Summary: The Central Oklahoma City real estate market had 1,298 homes for sale in May 2024, a 7.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 31 | 33 | +6.5% |
| 2 Bedrooms | 264 | 298 | +12.9% |
| 3 Bedrooms | 628 | 672 | +7.0% |
| 4 Bedrooms | 227 | 222 | -2.2% |
| 5+ Bedrooms | 62 | 73 | +17.7% |
Summary: The Central Oklahoma City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.5%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 17.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 299 | 288 | -3.7% |
Asking Price vs. Sold Price
129 Homes Were Sold
Under Asking
85 Homes Were Sold
At Asking
74 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Central Oklahoma City, you may be able to get a good deal. 44.8% of homes here sold below asking price last month.
Summary: A total of 288 homes were sold or pending in Central Oklahoma City in May 2024, down by 3.7% month-over-month. Of the 288 sold homes, 45% were sold under asking, 30% were sold at asking, and 26% were sold over asking.
Days on Market for Central Oklahoma City, OK
How long does it take to sell a home in Central Oklahoma City, OK?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 23 Days | 25 Days | +10.8% |
Summary: Homes in Central Oklahoma City had an average of 25 days on market in May 2024, up by 10.8% compared to last year.
Breakdown of Home Sale Times
211 Homes Were Sold
Under 30 Days
58 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Central Oklahoma City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 288 homes were sold in Central Oklahoma City; 73% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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