Is Oklahoma City Northeast, 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, Oklahoma City Northeast has remained a Seller's Market.
Key Takeaway
Oklahoma City Northeast is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oklahoma City Northeast, OK
How much do homes in Oklahoma City Northeast, OK cost?
Median Sold Price
$444,368
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Oklahoma City Northeast have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in Oklahoma City Northeast was $444,368 in May 2024, down 1.1% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $259K | $280K | +8.1% |
| 2 Bedrooms | $263.7K | $281K | +6.5% |
| 3 Bedrooms | $350K | $362.4K | +3.5% |
| 4 Bedrooms | $515.5K | $520.5K | +1.0% |
| 5+ Bedrooms | $755K | $689.7K | -8.6% |
Summary: Oklahoma City Northeast housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.1%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 8.6%.
Median Sold Price Compared To Nearby Cities
| Edmond | $359.5K | $357.6K | -0.5% |
| Oklahoma City Northeast | $449.3K | $444.3K | -1.1% |
| Jones | $419.5K | $410K | -2.3% |
| Arcadia | $523.7K | $465.6K | -11.1% |
Housing Supply in Oklahoma City Northeast, OK
How many homes are available in Oklahoma City Northeast, OK?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 248 | 254 | +2.4% |
Summary: The Oklahoma City Northeast real estate market had 254 homes for sale in May 2024, a 2.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 5 | 0.0% |
| 2 Bedrooms | 10 | 9 | -10.0% |
| 3 Bedrooms | 81 | 76 | -6.2% |
| 4 Bedrooms | 108 | 112 | +3.7% |
| 5+ Bedrooms | 44 | 52 | +18.2% |
Summary: The Oklahoma City Northeast 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 decreased by 10%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 47 | 48 | +2.1% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oklahoma City Northeast, you may be able to get a good deal. 54.2% of homes here sold below asking price last month.
Summary: A total of 48 homes were sold or pending in Oklahoma City Northeast in May 2024, up by 2.1% month-over-month. Of the 48 sold homes, 54% were sold under asking, 31% were sold at asking, and 15% were sold over asking.
Days on Market for Oklahoma City Northeast, OK
How long does it take to sell a home in Oklahoma City Northeast, OK?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 69 Days | 65 Days | -6.4% |
Summary: Homes in Oklahoma City Northeast had an average of 65 days on market in May 2024, down by 6.4% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oklahoma City Northeast are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 48 homes were sold in Oklahoma City Northeast; 52% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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Listings courtesy of Heartland Multiple Listing Service Inc. as distributed by MLS GRID.