Is Broken Arrow, OK a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Broken Arrow has remained a Seller's Market.
Key Takeaway
Broken Arrow is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Broken Arrow, OK
How much do homes in Broken Arrow, OK cost?
Median Sold Price
$289,995
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Broken Arrow have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Broken Arrow was $289,995 in March 2024, up 6.8% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $645K | $103K | -84.0% |
| 2 Bedrooms | $162.2K | $184.9K | +14.0% |
| 3 Bedrooms | $240K | $252K | +5.0% |
| 4 Bedrooms | $335K | $348.9K | +4.2% |
| 5+ Bedrooms | $410K | $489.5K | +19.4% |
Summary: Broken Arrow housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 84%, 2 bedroom homes increased by 14%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 19.4%.
Median Sold Price Compared To Nearby Cities
| Coweta | $222K | $268K | +20.7% |
| Broken Arrow | $269.9K | $289.9K | +7.4% |
| Broken Arrow | $271.5K | $289.9K | +6.8% |
| Bixby | $357.7K | $377.3K | +5.5% |
Housing Supply in Broken Arrow, OK
How many homes are available in Broken Arrow, OK?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 659 | 740 | +12.3% |
Summary: The Broken Arrow real estate market had 740 homes for sale in March 2024, a 12.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 16 | 21 | +31.3% |
| 3 Bedrooms | 316 | 371 | +17.4% |
| 4 Bedrooms | 287 | 303 | +5.6% |
| 5+ Bedrooms | 37 | 42 | +13.5% |
Summary: The Broken Arrow housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 31.3%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 13.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 130 | 162 | +24.6% |
Asking Price vs. Sold Price
79 Homes Were Sold
Under Asking
44 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Broken Arrow, you may be able to get a good deal. 48.8% of homes here sold below asking price last month.
Summary: A total of 162 homes were sold or pending in Broken Arrow in March 2024, up by 24.6% month-over-month. Of the 162 sold homes, 49% were sold under asking, 27% were sold at asking, and 24% were sold over asking.
Days on Market for Broken Arrow, OK
How long does it take to sell a home in Broken Arrow, OK?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 34 Days | 47 Days | +36.3% |
Summary: Homes in Broken Arrow had an average of 47 days on market in Mar 2024, up by 36.3% compared to last year.
Breakdown of Home Sale Times
93 Homes Were Sold
Under 30 Days
36 Homes Were Sold
In 30 - 90 Days
33 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Broken Arrow are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 162 homes were sold in Broken Arrow; 57% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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